This is an initial introduction to accounting. There are four types of accounting: bookkeeping, financial, managerial, and tax. Accounting records are probably the first written records and double entry bookkeeping is over 500 years old. Accounting is a fundamental concept of modern life.
Miraculous accounts payable(ap) process improvement ideasInvoicera Tondon
In this highly competitive business environment, you need to be aware of account payable process mistakes and the steps that you can take to improve them.
This is an initial introduction to accounting. There are four types of accounting: bookkeeping, financial, managerial, and tax. Accounting records are probably the first written records and double entry bookkeeping is over 500 years old. Accounting is a fundamental concept of modern life.
Miraculous accounts payable(ap) process improvement ideasInvoicera Tondon
In this highly competitive business environment, you need to be aware of account payable process mistakes and the steps that you can take to improve them.
All about accounting software & SQL Accounting SoftwareVikashKumar2111
Accounting software is a fundamental application that enables an organization to record cash flows for internal and external analysis and audit. It is the primary tool for assessing an organization's financial health and compliance with tools such as general ledgers, accounts payable and receivable, purchase orders, inventory management, and billing.
FellowBuddy.com is an innovative platform that brings students together to share notes, exam papers, study guides, project reports and presentation for upcoming exams.
We connect Students who have an understanding of course material with Students who need help.
Benefits:-
# Students can catch up on notes they missed because of an absence.
# Underachievers can find peer developed notes that break down lecture and study material in a way that they can understand
# Students can earn better grades, save time and study effectively
Our Vision & Mission – Simplifying Students Life
Our Belief – “The great breakthrough in your life comes when you realize it, that you can learn anything you need to learn; to accomplish any goal that you have set for yourself. This means there are no limits on what you can be, have or do.”
Like Us - https://www.facebook.com/FellowBuddycom
Client Onboarding: Effectively Managing the Client LifecycleDoxim Inc.
The first 90-120 days of your client’s lifecycle is commonly referred to as client on-boarding period. This period represents one of the best opportunities for a wealth management firm to engage with the client and maximize business opportunities. It is also represents an account administration challenge in terms of account opening, asset transfers, needs assessments and data capture. Download this presentation to discover more about:
- The 3 Stages of Client Onboarding
- Client Onboarding Best Practices
- Doxim's onboarding solution - Doxim OpenAdvantage
Visit www.doxim.com for more information.
11 Practical Tips for Accounting & Bookkeeping for Small BusinessElevar Accounting
Leveraging professional business bookkeeping services to categorize your transactions will help you know how much money each category adds to your income or costs at the end of a specific period.
Beyond QuickBooks - Exploring The Best Accounting Software Alternative.pdfInvoicera
Are there moments when you feel that there is more to accounting than just QuickBooks?
Well, you’re not alone!
A SmallBizTrends latest survey reveals that “85% of business owners are seeking accounting software alternatives.
While QuickBooks has been the ruling king of this domain for a long time, it’s not the only option.
Top Financial Management Tools Navigating Cash Flow And Receivables.pdfInvoicera
Elevate your business success by mastering financial management. This blog offers an all-encompassing guide to:
● The critical role of financial handling
● Selecting the best tools, like Invoicera and Zoho, for the job
● A deep dive into what makes these tools indispensable
● Bonus tips for making intelligent financial decisions
Accounting is the most stable element in management disciplines to manage the financial healthiness of any business.
Investing in Accounting software automates any business's financial activity and increases the overall efficiency. This presentation describes all the what, why, and how reasons to invest in accounting software.
In this presentation, there are detailed information explaining the impact of accounting software in MSME business
7 Challenges Small Businesses Face Maintaining Accounting Records.pptxvirtuousbookkeeping
Managing accounting records efficiently is one key to a successful business. However, this can be a challenge to business owners. Find out what these challenges are and how to overcome them.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
All about accounting software & SQL Accounting SoftwareVikashKumar2111
Accounting software is a fundamental application that enables an organization to record cash flows for internal and external analysis and audit. It is the primary tool for assessing an organization's financial health and compliance with tools such as general ledgers, accounts payable and receivable, purchase orders, inventory management, and billing.
FellowBuddy.com is an innovative platform that brings students together to share notes, exam papers, study guides, project reports and presentation for upcoming exams.
We connect Students who have an understanding of course material with Students who need help.
Benefits:-
# Students can catch up on notes they missed because of an absence.
# Underachievers can find peer developed notes that break down lecture and study material in a way that they can understand
# Students can earn better grades, save time and study effectively
Our Vision & Mission – Simplifying Students Life
Our Belief – “The great breakthrough in your life comes when you realize it, that you can learn anything you need to learn; to accomplish any goal that you have set for yourself. This means there are no limits on what you can be, have or do.”
Like Us - https://www.facebook.com/FellowBuddycom
Client Onboarding: Effectively Managing the Client LifecycleDoxim Inc.
The first 90-120 days of your client’s lifecycle is commonly referred to as client on-boarding period. This period represents one of the best opportunities for a wealth management firm to engage with the client and maximize business opportunities. It is also represents an account administration challenge in terms of account opening, asset transfers, needs assessments and data capture. Download this presentation to discover more about:
- The 3 Stages of Client Onboarding
- Client Onboarding Best Practices
- Doxim's onboarding solution - Doxim OpenAdvantage
Visit www.doxim.com for more information.
11 Practical Tips for Accounting & Bookkeeping for Small BusinessElevar Accounting
Leveraging professional business bookkeeping services to categorize your transactions will help you know how much money each category adds to your income or costs at the end of a specific period.
Beyond QuickBooks - Exploring The Best Accounting Software Alternative.pdfInvoicera
Are there moments when you feel that there is more to accounting than just QuickBooks?
Well, you’re not alone!
A SmallBizTrends latest survey reveals that “85% of business owners are seeking accounting software alternatives.
While QuickBooks has been the ruling king of this domain for a long time, it’s not the only option.
Top Financial Management Tools Navigating Cash Flow And Receivables.pdfInvoicera
Elevate your business success by mastering financial management. This blog offers an all-encompassing guide to:
● The critical role of financial handling
● Selecting the best tools, like Invoicera and Zoho, for the job
● A deep dive into what makes these tools indispensable
● Bonus tips for making intelligent financial decisions
Accounting is the most stable element in management disciplines to manage the financial healthiness of any business.
Investing in Accounting software automates any business's financial activity and increases the overall efficiency. This presentation describes all the what, why, and how reasons to invest in accounting software.
In this presentation, there are detailed information explaining the impact of accounting software in MSME business
7 Challenges Small Businesses Face Maintaining Accounting Records.pptxvirtuousbookkeeping
Managing accounting records efficiently is one key to a successful business. However, this can be a challenge to business owners. Find out what these challenges are and how to overcome them.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
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This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
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A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
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Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
9. Record keeping
•It is a primary stage in accounting that entails
keeping a record of monetary business
transactions, knowing the correct picture of
assets-liabilities, profits, loss, etc. In addition, it
assists in maintaining control of the expenses to
minimize the expenditure and have important
information for legal and tax purposes. In other
words, a recordkeeping system is the
backbone of any company’s financial structure.
10. •One of the first things any
new business must decide
on is how its records will
be kept. Accurate record
keeping is a key to many
aspects of your business's
success -- from assessing
your operation's profit
margins to ensuring that
you're in compliance with
IRS tax rules.
11. There are two methods
in which business records
can be kept:
1. manual record keeping
2. computerized (or
automated) record
keeping.
12. Manual Record Keeping System
•Operators of smaller business ventures often opt
for a manual record-keeping system. For a
particularly part-timers and business owners
who have just opened their doors -- the pencil
and paper method is adequate. Some
businesses grow out of the manual system, but
others may find that the manual system works
just fine for the long run, too
13. Manual Record Keeping System
•Manual records satisfy the tax code as long
as they are accurate and can be understood
or explained if questioned. Of course, if you
decide to use a manual system, you must
learn how to use it.
14. There are a few traditional ways to
manually keep small business records.
•Preformatted record books. Inexpensive,
preformatted record books are available at
most office supply stores.
•Ledger sheets. Ledger sheets (also available
at office supply stores) are columnar pads of
paper, usually light green in color.
17. •Either way, you must keep a
record of each expense --
jotting down a brief
description of the business
expense, the date incurred,
the amount, and to whom it
was paid. On the profit side
of the equation, you must
also keep similar records of
any income your business
receives.
•
18. Pros of Manual Record Keeping
•low cost (ledger pads and books)
•ease of use (the manual system is pretty
painless, especially if you don't have lots of
different expense and income items).
19. Cons of Manual Record Keeping
•They are often "single entry" systems, meaning
you enter each transaction only once. As such,
there is no automatic check and balance system
like that used in computer programs (like Quicken
or in more formal double entry bookkeeping
systems.
•You must manually tally up expenses or income by
category or by month -- which can be time
consuming.
20. Computerized Record Keeping
Keeping your business's records on a computer
follows the same principles as a manual system,
except the computer automates the process so it's
faster and more accurate. A simple-to-use software
program like Quicken (Intuit) or MS
Money (Microsoft) eliminates the need for a
handwritten set of books. You input each
transaction (whether expense or income) into the
software program and assign a category to each --
whether a descriptive word like "advertising" or a
number code such as "201."
21. Pros of Using a Software Program
•eliminate math errors
•instantly see your income and expenses by
category
•get profit and loss statements and other financial
summaries quickly, and
•interface with compatible tax software programs -
- so you don't need to re-input data come tax
time.
22. Cons of Using a Software Program
•They are slightly more expensive than manual
record keeping supplies. A simple program
like Quicken runs about $50, while programs
(like Quickbooks) that are geared toward larger
businesses can cost $150 or more.
•You must have a computer and be comfortable
using it on a regular basis.
23. Keeping Source Documents
•Regardless of how you keep your business's
records, you must still hold onto what
accountants call "source" documents. These
are the receipts, bank statements, purchase
invoices, and other records that back up the
numbers that get entered into your record-
keeping system.
24. Should You Hire a Bookkeeper?
•Most new businesses don't have the money to hire
bookkeeper, This makes it more important for business owners
to choose a record-keeping system that they're comfortable
with.
•But what if you can afford to hire a bookkeeper? Does this
mean that you don't need to worry about the ins and outs of
different record-keeping systems? In a word, no. Tax law places
responsibility for most bookkeeping and accounting errors
squarely on the business owner. So, even if you've hired a
bookkeeper to handle your business's books on a day-to-day
basis, it is still essential that you have a good grasp of general
bookkeeping concepts and an awareness of what's going on
with your business's record-keeping practices.
25. Experiential Learning:
•Plan and execute a small-scale
tourism event, such as a guided tour
or cultural showcase. Document the
process, including record-keeping
practices, and present your findings
to the class.
26. Activity 1: Creating an Itinerary
•Teaching Strategy:
Project-Based Learning
•Materials:
Travel brochures, computers with internet access
•Significance:
Students will create a detailed itinerary for a
tourist visiting a specific destination, incorporating
record-keeping practices.
27. Instructions:
•1) Research a popular tourist destination and
gather information on attractions,
accommodations, transportation, and other
relevant details.
•2) Create an itinerary using a template or design
your own, including time slots, activities, and
necessary information.
•3) Present your itinerary to the class and explain
the record-keeping practices used.
28. Rubric:
•- Completeness and accuracy of itinerary 5
•- Organization and presentation - 5
Incorporation of record-keeping practices
(10 pts)
31. Quiz
1-2 What are the 2 methods use in record
keeping?
3-4 Give the 2 traditional ways to manually
keep small business records.
5-6 pros of using manual record keeping
7-8 cons of using manual record keeping
9-10 Pros of Using a Software Program