Archive for June, 2007
SAS Update – Caporicci & Larson – San Diego, Orange County, Oakland, and Sacramento
In May of 2006 the Office of Management and Budget issued a new revised supplement for OMB A-133. This revised supplement had several changes made to grant program narratives on the program requirements, which resulted in other parts of the compliance supplement also being changed. The changes range from minor verbiage changes to specific changes [...]
Construction Company Profits – Save Tens-of-Thousands of Dollars INSTANTLY
Two of our recent clients, one construction company with over $100 million in revenue and exceptional personnel, training, and controls in force, and another with under $2 million in revenue without any controls, had the same problem that so many of our clients facelost profits from lack of controls of material deliveries in the field. [...]
Construction Company Profits – Save Tens-of-Thousands of Dollars INSTANTLY
Two of our recent clients, one construction company with over $100 million in revenue and exceptional personnel, training, and controls in force, and another with under $2 million in revenue without any controls, had the same problem that so many of our clients facelost profits from lack of controls of material deliveries in the field. [...]
Principles of Accounting and Accounting Assumptions
In the modem world no business can afford to remain secretive because various parties such as creditors, employees, taxation authorities, investors, public and government etc., are interested to know about the affairs of the business. Affairs of the business can be studied mainly by consulting final accounts and the balance sheet of the particular business. [...]
Accounting Sub Journals and Cash Book
The accounting procedure, for recording information, involves two steps, namely journalizing and posting. It follows that every business must maintain a journal (books of original or prime entry) and a ledger (principal book). Thus the system of book-keeping originally envisages that all the transactions must be recorded first in the book of original record, i.e., [...]
Writing Single Column Cash Book, Double Column Cash Book and Triple Column Cash Book
Single Column Cash Book It has only one. column on each side for amount In fact, it is written just like cash account in the ledger (being real account what comes in is debited; what goes out is credited). This form of ‘cash book has the same ruling as that of a ledger account There [...]
Maintaining Cash Book, Posting and Balancing
In the case of a new business the amount will be written in the cash column if the cash is introduced and in the bank column if it is directly deposited in the bank with the words, “To Capital Account” on the debit-side of the cash book. In the case of a continuing business the [...]
Analytical Cash Receipts and Cash Payments Books
The Performa of analytical cash receipts and cash payments books relating to the insurance business appears in this page. Any business can modify suitably the proforma depending upon its own requirements. Petty Cash Book Every business has to make payments involving smaller or petty amount, e.g.. carriage, cartage, cooly hire, postage telegrams etc. Such payments, [...]
Accounting Verification by Trial Balance, Preparation of Trial Balance
By now you should have observed that for every debit entry that is given to an account, or for every series of debits given to several accounts, there is a credit or a series of credits of an equal amount given to some other accounts and vice versa. It follows, therefore, that any time the [...]
Advantages Objectives of Trial Balance, Trial Balance Limitations – Shortcomings of Trial Balance
Advantages (Objectives of Trial Balance) 1. It ensures that the transactions recorded in the books of accounts have identical debit and credit amount. 2. Balance of each ledger account has been computed correctly. 3. Balance of each and every ledger account has been transferred accurately and on the correct side of the sheet on which [...]
