@andreascarnarvon
Perfil
Registrado: hace 3 días, 13 horas
According to Linda Boisvert, director of management programming at the NAIT vocational and also proceeding education school in Edmonton, Canada [4], the greatest defect in computer system researchers is not knowing what the consequences of what they do on the rest of the service!
This is particularly easy to understand when a computer scientist is dealing with accountancy software program without recognizing the fundamentals of accountancy for developers.
What is audit?
Audit is a science that examines the recording of economic deals in the audit publications, the collection of deals in the General Journal accounts, with the goal of producing the monetary declarations ( annual report, earnings declaration) which scrupulously stand for the economic situation of the business at a given day. An extra web page to the monetary declarations, called the Auditor's Record, states, if existing, that the monetary declarations precisely stand for the monetary placement of the business at a provided day. If this record is absent, beware of the value of monetary statements.
Audit concepts
The method of executing accountancy is framed by principles called "Most often acknowledged accountancy principles" (GAAP). These concepts apply to private enterprises (i.e. not noted on the stock exchange) and also a certain right of adaptation of accounting concepts has been developed according to details circumstances. On the other hand, when it comes to noted business, brand-new requirements called "International Reporting Specifications" (IFRS) come into pressure on January 1, 2011, for countries that have actually made a decision to take on these standards, i.e. more than 'a hundred nations, including Canada, the European Union, Japan. These criteria need to undertake modifications in 2012, 2013, 2014 to bring them closer to the criteria effective in the USA which have actually not yet embraced IFRS requirements, regarding their present standards much more legitimate. The brand-new criteria have the essential characteristics of leaving even more room for concepts and also less area for policies (eg enforcing a chart of accounts for a category of company). Raising the versatility of the accountant in the workout of his professional judgment, at the degree of the application of the principles, will allow the economic declarations to show even more scrupulously the genuine economic scenario of the firm yet could additionally assist in the manipulation having in contrast effects. According to the accountancy principle of going concerned, the economic statements for 2010 should be presented according to the new standards to allow comparison in between 2011 as well as 2010. These brand-new requirements will certainly advertise the flexibility of accountants worldwide.
" (video: https://www.youtube.com/embed/uruLdsHwaDI)
The audit concepts explained below relate to GAAP.
Bookkeeping concept of business character
To correctly execute as well as recognize a organization's accountancy, one must see the business as a different person from its owner, even though lawfully business and also its owner might be the same person. As an example, a sole proprietor may possess a company marketing computer system devices. In this case, the earnings of the business is lawfully the earnings of the owner as well as the financial debts of business are legally the financial debts of the owner.
From an bookkeeping perspective, you shouldn't look at it in this way.
The purpose of accountancy is to generate economic declarations (balance sheet as well as revenue statement) which scrupulously represent the financial circumstance of the business for decision-making purposes.
For example, if the very same owner likewise has a shoe service center, he likewise has other revenue, expenditures, financial obligations, etc
. It is noticeable that, for the function of decision-making in each business, we have to not blend the incomes of one and the other, the expenditures, the financial debts. What is more, overhead should not be mixed with personal expenditures, etc
. This is why, under the bookkeeping principle of the personality of the business, a company is acknowledged as an accounting professional various from another accounting firm and also different from its owner.
It complies with that the revenue statement of the computer system equipment sales service contains the earnings (income) of the computer system devices sales company, much less the charges ( costs) of the computer tools sales company. 'computer tools made use of to earn these items; the net earnings ( earnings - cost) of the earnings declaration for that reason represents the earnings of the business from the sale of computer system tools just.
The annual report of the computer system devices sales business stands for the assets of the computer tools sales firm and also says that brought the money to obtain these possessions; for instance, inventory ( possession) is funded by a financial debt (liability) which is the account payable to the distributor; the land ( possession) is financed by the deposit from the sole owner ( funding); if the company is a company, we can claim that the land is financed by the funding of the investors ( investors' equity). Funding and also Shareholders' equity are identical. So the audit formula should constantly be inspected: asset = responsibility + capital.
A firm is an accountant that, nevertheless, is unworthy much, no greater than a sparrow called "Les arpents vert inc.". This sparrow perched on an electrical cord has, under its left-wing, the possessions that weigh as much as there is under its right-wing, ( obligations + funding). If the sparrow offers every one of its assets, it has the cash to pay off its financial obligations and also remit the owner's down payment. Subsequently, the only riches of the sparrow is "the sparrow", an accountant that calls himself "Les arpents vert inc.". All accounting transactions ought to be represented from the viewpoint of the "sparrow" as well as not the proprietor.
To learn more, I welcome you to check this website:Multi-Currency Bookkeeping (Suggested Online site) (image: https://innovuratech.com/wp-content/uploads/2024/02/Heading-18.jpg)
Web: https://clearcreek.a2hosted.com/index.php?action=profile;u=670930
Foros
Debates iniciados: 0
Respuestas creadas: 0
Perfil del foro: Participante