Accounting, Bookkeeping and Write-Ups
American Accounting Association defines accounting as the process of identifying, measuring and communicating information to permit judgment and decision by users of accounts. It is a tool for recording, reporting and evaluating, in monetary terms, the transactions, events and situations that affect an enterprise.
Accounting functions consists of the following five types of activities:
Collection and recording of data
Classification of data
Processing of data including calculating and summarizing
Maintenance or storage of results
Reporting of results
Accounting serves many purposes. It is broadly divided in three types according to the purpose served by it. These
three types of accounting are:
Basic accounting
Management Accounting
External Accounting
Basic accounting, also called Bookkeeping, represents the earliest application of accounting. It serves the purpose of facilitating the operating activities of an enterprise involving financial transactions. For example to determine the money to be paid to suppliers, or to be collected from customers.
The information available from the basic accounting can be further analyzed and presented to management of a firm to help them in their planning and controlling functions. This is the function served by management accounting.
With advent of large corporation the ownership of companies got separated from management, and a need arose for
providing information on activities and performance of companies to shareholder and other stakeholders outside the company, not involved in direct operation or management of company. External accounting meets the need for this type of external accounting.
Write-up services provide the basic accounting information needed to prepare income and payroll tax returns, manage operations and maintain credit. When received timely, these services can contribute significantly to the management of a business.
Some write up services include:
Recording cash receipts and disbursements, accruals, and adjustments to produce a general ledger or trial balance
Reconcile Bank Statement
Preparing Financial Statements from general ledger or trial balance information
Maintaining accounts receivable and/or accounts payable ledgers
Calculating depreciation and maintaining fixed asset registers
Calculating payroll tax deposits
Preparing payroll tax returns
Summarizing data required for tax returns
From ehow.com and vardy.com
American Accounting Association defines accounting as the process of identifying, measuring and communicating information to permit judgment and decision by users of accounts. It is a tool for recording, reporting and evaluating, in monetary terms, the transactions, events and situations that affect an enterprise.
Accounting functions consists of the following five types of activities:
Collection and recording of data
Classification of data
Processing of data including calculating and summarizing
Maintenance or storage of results
Reporting of results
Accounting serves many purposes. It is broadly divided in three types according to the purpose served by it. These
three types of accounting are:
Basic accounting
Management Accounting
External Accounting
Basic accounting, also called Bookkeeping, represents the earliest application of accounting. It serves the purpose of facilitating the operating activities of an enterprise involving financial transactions. For example to determine the money to be paid to suppliers, or to be collected from customers.
The information available from the basic accounting can be further analyzed and presented to management of a firm to help them in their planning and controlling functions. This is the function served by management accounting.
With advent of large corporation the ownership of companies got separated from management, and a need arose for
providing information on activities and performance of companies to shareholder and other stakeholders outside the company, not involved in direct operation or management of company. External accounting meets the need for this type of external accounting.
Write-up services provide the basic accounting information needed to prepare income and payroll tax returns, manage operations and maintain credit. When received timely, these services can contribute significantly to the management of a business.
Some write up services include:
Recording cash receipts and disbursements, accruals, and adjustments to produce a general ledger or trial balance
Reconcile Bank Statement
Preparing Financial Statements from general ledger or trial balance information
Maintaining accounts receivable and/or accounts payable ledgers
Calculating depreciation and maintaining fixed asset registers
Calculating payroll tax deposits
Preparing payroll tax returns
Summarizing data required for tax returns
From ehow.com and vardy.com
Business Development Structural Reorganizing Marketing Innovations Revenue and Profit Increase Sales Strategies and Implementations Office Management and Administration Tax Preparation and Filing Accounting Bookkeeping and Write Ups HR –Payroll and Employee Maintenance Virtual Secretarial and Assistant Duties Certified Notary Services Customize Unique Services