Home
Search results “Cash payments accounting”
Cash Receipt Journal | Accounting and Financial Management (ACCT101)
 
13:09
http://goo.gl/4WVE0T for more free video tutorials covering Accounting and Financial Management. This video gives an overview on cash receipt journal and subsequently explains how to record transactions in the cash receipt journal and related subsidiary ledgers. Journal that specifically records all cash inflow including cheques to the firm or bank deposits are known as cash receipt journal. This journal is designed especially for the firm. Hence unlike sales journal, each column will correspond to the most frequent mode of cash inflow that the organization receives. Cash receipt journals are prepared for the convenience of having all cash inflows in one location rather than narrations or extensive general journal as well as it makes lot easier to track inflows from specific debtors when combined with subsidiary ledger and can also verify any repayment. Moving on, the video demonstrates how to prepare this special journal approach and clears the fact that amounts relating to accounts receivables from customers with subsidiary ledgers need to be posted which will represent the repayment of debt through a simple example.
Views: 23604 Spoon Feed Me
Managerial Accounting: Cash Payments Budget
 
04:12
Help us caption & translate this video! http://amara.org/v/G630/
Views: 1165 ProfAlldredge
Recording Of Transactions – I - Accounting Equation Solutions - Problem 3 - Solution
 
15:03
Mohit has the following transactions, prepare the accounting equation: a. Business started with cash ₹ 1,75,000 b. Purchased goods from Rohit ₹ 50,000 c. Sold goods on credit to Manish (Costing ₹ 17,500)₹ 20,000 d. Purchased furniture for office use ₹ 10,000 e. Cash paid to Rohit in full settlement ₹ 48,500 f. Cash received from Manish ₹ 20,000 g. Rent Paid ₹ 1,000 h. Cash withdrew for personal use ₹ 3,000 Additional content on this topic can be found at http://www.eduxir.com/curriculum/cbse/class-xi/accountancy/recording-of-transactions-i/recording-of-transactions-i-accounting-equation-solutions
Views: 39852 Eduxir
Accounting for 1st year Varsity: Cash payments journal
 
02:47
Cash payments journal
Views: 5944 Tutormeonlineza
Accounting for Beginners #14 / Journal Entry with Cash / Expense
 
05:04
https://www.youtube.com/playlist?list=PLT-zZCow6v8t5_2RQDnAOQHfQiBYDw26z BEST ACCOUNTING PLAYLIST ON YOUTUBE !!!!!!!! In my 14th video for my Accounting for beginners series, i go over a Basic Journal Entry involving cash. In this Journal Entry, i have cash leaving the Business as an Expense The easiest way to keeps debits and credits, and Assets = Liabilities + Equity ( Accounting Equation) straight. This is how i passed the CPA Exam to become a licensed CPA in the State of Florida. You can use the information in the video on your first day of Accounting class all the way tho being a CPA. Debits, Credits, Assets, Draw, Expenses, Liabilities, Equity, Revenue. This video has a very basic example and can be used in the most advanced situations. Learn Debits and Credits and the basic accounting equation which is assets = liabilities + equity. This will also help with the income statement which is Revenues - Expenses. I hope you enjoy the video. In this video i go over journal entries. Get your tips here in this accounting for beginners video. There is also information on the balance sheet here in this video. I also go over Accounts Receivable, Accounts Payable, Depreciation, Accumulated Depreciation, Putting Assets on the books, Fifo and Lifo Inventory Valuation, and so much more in this series for beginners. Accounting For Beginners #1 https://www.youtube.com/watch?v=_pTU4gwmcMs Debits and Credits / Assets = Liabilities + Equity Accounting For Beginners #2 https://www.youtube.com/watch?v=0--jJn6zqfg Basics / Accounting Equation Accounting For Beginners #3 https://www.youtube.com/watch?v=YXFEEr3qHIo Journal Entries / Beginner Tips Accounting For Beginners #4 https://www.youtube.com/watch?v=Yy1DtVND7yo Income Statement / Revenue - Expenses Accounting For Beginners #5 https://www.youtube.com/watch?v=fEtBFB_Nq-o The Balance Sheet / Basic Tutorial Accounting For Beginners #6 https://www.youtube.com/watch?v=XyB3mmzQ_jU Putting an Asset on the Balance Sheet Accounting For Beginners #7 https://www.youtube.com/watch?v=H4udCOiU8i8 Depreciating an Asset / Basics Accounting For Beginners #8 https://www.youtube.com/watch?v=xjXgpnUEgFI Depreciation Expense / Basics Accounting For Beginners #9 https://www.youtube.com/watch?v=QFV6PGIMT5M Accounts Receivable / Basics Accounting For Beginners #10 https://www.youtube.com/watch?v=xQ0u_QocSO4 Accounts Payable / Basics Accounting For Beginners #11 https://www.youtube.com/watch?v=tFA9HD3-7SI Fifo and Lifo Inventory / Basics Accounting For Beginners #12 https://www.youtube.com/watch?v=Z-g1Tnf3oi4 1 Journal Entry With 2 Assets / Basics Accounting For Beginners #13 https://www.youtube.com/watch?v=ds2Y0MxzMBA Accounting Study Guide / Template Accounting For Beginners #14 https://www.youtube.com/watch?v=BU9emeoLKX0 Journal Entry with Cash / Expense Accounting For Beginners #15 https://www.youtube.com/watch?v=kwCtASXQRLU Journal Entry With Cash / Revenue Accounting For Beginners #16 https://www.youtube.com/watch?v=1YrcjlHFBZ0 Debits & Credits / Negative Asset Accounting For Beginners #17 https://www.youtube.com/watch?v=amf1hyptG70&t=25s T-Accounts / Debits and Credits / Accounting 101 Accounting For Beginners #18 https://www.youtube.com/watch?v=18zPzkMbS2c What is a Draw? / Withdraw / Distribution / Dividend / Equity Accounting for Beginners #19 https://www.youtube.com/watch?v=r43j010KT58 Don't Abbreviate / Accounting 101 / Basics Accounting For Beginners #20 https://www.youtube.com/watch?v=yXJVISZA8yU Chart of Accounts / Assets, Liabilities, Equity, Revenues, Expenses Accounting For Beginners #21 https://www.youtube.com/watch?v=CK9NgJoqJa4 T Account Example / Accounting Tutorial Accounting For Beginners #22 https://www.youtube.com/watch?v=EC93RsvgK9E&t=25s Trial Balance Unadjusted / Accounting Basics Accounting For Beginners #23 https://www.youtube.com/watch?v=-9-LAnE61lw&t=25s Cash in a Bank Account / Checking Account / Basic Accounting Accounting For Beginners #24 https://www.youtube.com/watch?v=aUjVslkn4HI&t=25s Does The Transaction Increase Assets / Accounting Basics Accounting for Beginners #25 https://www.youtube.com/watch?v=zKreBUTJx5E&t=25s Accounts Receivable Example / Accounting 101 / Accounting Basics Accounting For Beginners #26 https://www.youtube.com/watch?v=66YddsOGau0&t=312s Reducing Accounts Receivable / We got Paid / Accounting basics #Accounting #Exercise #CPA
Views: 47821 CPA Strength
Financial Accounting: Internal Controls for Cash Receipts & Payments
 
05:01
Description Help us caption & translate this video! http://amara.org/v/Fivr/
Views: 19127 ProfAlldredge
Accounting Methods-Cash & Accrual
 
01:52
Cash & Accrual Accounting Methods http://www.dwmbeancounter.com Cash Method or Basis of accounting recognizes revenue (earnings) in the period the cash is received and expenses in the period when the cash payments are made. Accrual Method or Basis of accounting records income in the period earned and records expenses in the period incurred. Free Accounting and Bookkeeping Help http://www.dwmbeancounter.com In a nutshell, my site Bean Counter is primarily an accounting educational and training site that offers free beginning bookkeeping and accounting tutorials, courses, exams, tests, quizzes, and games with a dose of humor injected.
Views: 3566 Bean Counter
Internal Control Over Cash Payments | Financial Accounting | CPA Exam FAR | Ch 7 P 3
 
09:38
Internal control, sarbanese-oxley, public company, internal control components, control procedures, risk assessments, information system, monitoring of controls, environment, tone at the top, internal auditor, external auditor, separation of duties, encryption, lock box system
Automated Accounting - Cash Payments Journal General Debit
 
01:44
Automated Accounting - Cash Payments Journal General Debit
Views: 257 Mike Gustantino
9-4 Accounting for Cash Payments
 
08:53
Recorded with http://screencast-o-matic.com
Views: 102 SpearsClassroom
CASH PAYMENT ENTRY in ePLUS Accounting Software
 
01:59
HELP LINE : +917622016104 , 0261-4016104 INQUIRY/DEMO : +917990153253 , +918460722326 FACEBOOK : https://www.facebook.com/digitaldreamsinfotech WEBSITE : http://www.digitaldreamsinfotech.com
Recording Of Transactions – I - Accounting Equation Solutions - Problem 4 - Solution
 
15:22
Rohit has the following transactions: a. Commenced business with cash ₹ 1,50,000 b. Purchased machinery on credit ₹ 40,000 c. Purchased goods for cash ₹ 20,000 d. Purchased car for personal use ₹ 80,000 e. Paid to creditors in full settlement ₹ 38,000 f. Sold goods for cash costing ₹ 5,000 ₹ 4,500 g. Paid Rent ₹ 1,000 h. Commission received in advance ₹ 2,000 Prepare the accounting equation for the above transactions Additional content on this topic can be found at http://www.eduxir.com/curriculum/cbse/class-xi/accountancy/recording-of-transactions-i/recording-of-transactions-i-accounting-equation-solutions
Views: 3036 Eduxir
Small Business Tips - 2 - Banking and Cash Payments
 
04:36
Banking and cash payment tips for small businesses. http://www.dwmbeancounter.com In a nutshell, my site Bean Counter is primarily an accounting educational and training site that offers free beginning bookkeeping and accounting tutorials, courses, exams, tests, quizzes, and games with a dose of humor injected. - See more at:
Views: 338 Bean Counter
Financial Accounting: Petty Cash Account
 
03:59
Help us caption & translate this video! http://amara.org/v/Fw9M/
Views: 18148 ProfAlldredge
Automated Accounting - Cash Payments Journal, Pay Cash on Account (No Discount)
 
00:59
Automated Accounting - Cash Payments Journal, Pay Cash on Account (No Discount)
Views: 308 Mike Gustantino
Quickbooks 15: Receiving Payments, Paying Bills., Cash Deposits
 
11:08
Ken Boyd is the owner of St. Louis Test Preparation (www.stltest.net). He provides tutoring in accounting and finance to both graduate and undergraduate students, as well as QuickBooks consulting. Ken is the author of Cost Accounting for Dummies (Available in March of 2013). As a former CPA, Auditor, Tax Preparer and College Professor, Boyd brings a wealth of business experience to education.
Views: 109258 AccountingED
100.110 Pay Employee with Cash Transaction Accounting Equati
 
04:16
Accounting transaction for paying employee with cash using accounting equation showing effect on assets liabilities and equity. Why Learn Accounting - Financial Accounting / Managerial Accounting https://youtu.be/uaWDB1YdA1k?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Double Entry Accounting System Explained - Accounting Equation https://youtu.be/66e9QbrkE4g?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Cash vs Accrual - Cash Method / Accrual method differenc https://youtu.be/i2O0cexCrqc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Revenue Recognition Principle https://youtu.be/M_pauBGz5Jc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI Double Entry Accounting System Explained - Balance Sheet https://youtu.be/kOItl8E3fNA?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Income Statement Introduction https://youtu.be/1k11H8icQxc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Accounting Objectives - Relevance Reliability Comparability https://youtu.be/mO8tPzFmN8o?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Rules - Accounting Equation https://youtu.be/0vy6W_WTO2I?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Throught Process / Steps - Accounting Equation https://youtu.be/SlTo3EXDuqU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Owner Deposits Cash Transaction Accounting Equation https://youtu.be/lPZoImc88eU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Work Completed for Cash Transaction Accounting Equation https://youtu.be/ll5xIHVdrVs?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 100.110 Pay Employee with Cash Transaction Accounting Equati https://youtu.be/bSa3NuVpkwc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits Normal Balance - Double Entry Accounting Sy https://youtu.be/alSWKuWPlxU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits - One Rule to Rule Them All https://youtu.be/RL3BFjL1eyE?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI
What Happened to the Cash Payments?
 
01:01
Dominion Energy is providing electric customers significantly reduced bills instead of the cash back proposal. Find out why. Learn more at www.brighterenergyfuture.com
Views: 133 Dominion Energy
Payment, Received, Journal, Contra Entry Busy Accounting Software  9210161132-9212221060
 
20:52
A. K. SOFTWARES AND SERVICES 35-A, MAIN ROAD, EAST AZAD NAGAR, KRISHNA NAGAR, DELHI-110051 E-mail : [email protected] Website : www.busyak.in Contact : (9210161132 Shahrukh Sir, 9212221060 Amit Sir)
Accounting, Cash Payment journal, নগদ প্রদান জাবেদা
 
13:11
আমার ফেসবুক পেজের লিংকঃ- https://www.facebook.com/businessscho... আমার ফেসবুক গ্রুপের লিংকঃ- https://www.facebook.com/groups/17341... প্রয়োজনে কথা বলতে পারেন এই নাম্বারে: 01766966454 ( রাত ১০টা থেকে রাত ১১টার মধ্যে) ভালোভাবে বুঝতে চাইলে সম্পূর্ণ প্লেলিস্ট শুরু থেকে দেখোঃ https://www.youtube.com/watch?v=Of5UvFZtdEg&list=PLr_H45tIT76oPouCXY-Nkqj06mEWTde-qAccounting, Cash Receive journal, নগদ প্রদান জাবেদা Current Assets & Current Liabilities চলতি সম্পদ ও চলতি দায় চেনার উপায় আমি আপনাদের সাথে যা যা নিয়ে আলোচনা করবো, সেগুল হলঃ- লেনদেন, জাবেদা, খতিয়ান, রেওয়ামিল, সমন্বয় জাবেদা, সাধারন জাবেদা, সংশোধনী জাবেদা, বিপরীত জাবেদা, সাধারন খতিয়ান, সরকারি খতিয়ান, কার্যপত্র, কার্যপত্রের সমন্বয়, আর্থিক বিবরণী, ssc, hsc, একতরফা দাখিলা, পদ্ধতি, দৃশ্যমান অদৃশ্যমান, লেনদেন অনাদায়ী পাওনা, ট্রেডমার্ক, হিসাববিজ্ঞান, অব্যবসায়ী প্রতিষ্ঠানের হিসাব, অংশীদারি কারবার, নগদ প্রবাহ বিবরণী, যৌথ মূলধনী কোম্পানির হিসাব, শেয়ার, শেয়ারের জাবেদা, যৌথ মূলধনী কোম্পানির আর্থিক বিবরণী, আর্থিক বিবরণী বিশ্লেষণ ,অনুপাত বিশ্লেষণ, তারল্য অনুপাত, তড়িৎ অনুপাত, মূলধন গিয়ারিং অনুপাত, চলতি সম্পদ, চলতি অনুপাত, চলতি দায়, মজুদ আবর্তন অনুপাত, বিক্রিত পণ্যের ব্যয়, ক্রয়, বিক্রয়, নিট ক্রয়, need bikroy সমাপনী মজুদ পণ্য, প্রারম্ভিক মজুদ পণ্য, তিন ঘরা নগদান, বই দুই ঘরা নগদান বই, এক ঘরা নগদান বই, খুচরা নগদান বই, অগ্রদত্ত পদ্ধতি, উৎপাদন ব্যয় বিবরণী, বেতন ও মজুরি, মজুদ পণ্যের হিসাবরক্ষণ, পদ্ধতি ব্যয় ও ব্যয়ের শ্রেণিবিভাগ , সমচ্ছেদ বিন্দু, ইত্যাদি নিয়ে আমি আপনাদের সাথে আলোচনা করব . আপনাদের যদি আমার কাছে কোন কিছু জানার থাকে তাহলে অবশ্যই আমাকে জানান .আমি অবশ্যই চেষ্টা করব সে ব্যাপারে আপনাকে সাহায্য করতে ধন্যবাদ ভুল ত্রুটি হলে ক্ষমার দৃষ্টিতে দেখবেন This lesson is very important for these keywords: ssc accounting bangla tutorial, accounting bangla tutorial for ssc, accounting lecture ssc, accounting for ssc, accounting 9-10, accounting ssc, accounting class 10 bangla, accounting class 9 bangla, ssc accounting, hisab biggan class 9-10, accounting class 9-10, class 9-10 accounting, accounting bangla tutorial, Bangla accounting , accounting in bangla, Bangladeshi accounting, hishab biggan , হিসাব বিজ্ঞান , রেওামিল , জাবেদা , খতিয়ান , rewamil , jabeda, khotiyan , debit , credit , debit credit niyom, ledger ,trial balance , journal journal entry, accountancy (field of study,) contes,t simple, easy, journa,l entry tutoria,l simple steps, accounting, accounting tutorial, basics of accounting, introduction to accounting, journal entry basics, simple accounting tutoria,l journal in accounting ,how to make journal entry, journal বিশদ আয় বিবরণী income statement accounting income statement bangla income statement tutorial in bangla income statement and balance sheet tutorial আয় বিবরণী detailed income statement ssc class 9-10 accounting হিসাববিজ্ঞান আর্থিক বিবরণী financial statement ssc accounting bangla tutorial accounting bangla tutorial for ssc accounting lecture ssc accounting for ssc accounting 9-10 accounting ssc ssc accounting hisab biggan class 9 accounting bangla tutorial
Views: 1117 Business School
Cash-Basis vs. Accrual-Basis Accounting | Intermediate Accounting | CPA Exam FAR | Chp 3 p 8
 
31:09
Cash-Basis Accounting Versus Accrual-Basis Accounting is presented in Appendix A of Chapter 3 for the purpose of demonstrating the difference between cash basis and accrual-basis accounting. Under the strict cash basis of accounting, revenue is recognized only when cash is received, and expenses are recorded only when cash is paid. The accrual basis of accounting recognizes revenue when it is earned and expenses when incurred without regard to the time of receipt or payment of cash. Cash basis accounting, accrual basis accounting, convert from accrual to cash basis, CPA exam, college accounting, intermediate accounting, cash flow statement, cash flow statement direct method, cash flow statement indirect method
Accounting Entry for Payment through Cheque
 
02:04
Did you liked this video lecture? Then please check out the complete course related to this lecture, ACCOUNTING BASICS A COMPLETE STUDY with 300+ Lectures, 28+ hours content available at discounted price (only Rs.640)with life time validity and certificate of completion. https://www.udemy.com/fundamentals-of-accounting-a-complete-study/?couponCode=YTBABCS56 ---------------------------------------------------------------------------------------------------------------- Welcome to one of the comprehensive ever course on Accounting Basics. This course starts from “What is Accounting”, “Need for Accounting” to various Practical aspects in Accounting. Enjoy lectures for each and every concept in accounting presented in digital hand written format followed by Solved Case Studies Video. New videos are being added at frequent intervals and this course will be the longest one in Accounting soon. ---------------------------------------------------------------------------------------------------------------- Welcome to Accounting Basics - A Complete Study Course! This is one of the comprehensive course in Fundamentals of Accounting covering theory as well as practice. In this course, you will learn Fundamentals of Accounting, step by step covering the following: Section 1: a) Introduction to Accounting; b) Book Keeping; c) Accounting – Objectives and Process; d) Accounting Cycle; e) Accountancy, Accounting and Book Keeping; f) Users of Accounting Information; g) Branches of Accounting; h) Basic Accounting Terms; i) Basic Assumptions in Accounting; j) Basic Concepts in Accounting; k) Modifying Principles of Accounting; l) Accounting Standards; Section 2: m) Double Entry System in Accounting; n) Accounting Equation; o) Golden Rules of Accounting; Section 3: p) Source Documents; q) Cash Memo; r) Invoice; s) Receipt; t) Debit Note; u) Credit Note; v) Pay in Slip; w) Cheque; x) Vouchers; Section 4: y) Books of Original Entry; z) Journal and Format aa) Steps in Journalising; bb) Journal Illustrations; cc) Compound Journal Entry; Section 5: dd) Ledger; ee) Utility of Ledger; ff) Format of Ledger; gg) Posting; hh) Procedure for Posting; ii) Posting of Compound Journal Entry; jj) Posting the Opening Entry; kk) Balancing an Account; ll) Significance of Balancing; mm) Balancing of Different Accounts; nn) Procedure for Balancing; Section 6 - covering Trial Balance and Final Accounts. This course is structured in self paced learning style. Video lectures are used for delivering the course content. Take this course to create strong foundation in fundamentals of accountancy. • Category: Business What's in the Course? 1. Over 206 lectures and 20 hours of content! 2. Understand need and importance of Accounting 3. Understand Book Keeping, Objectives and Advantages 4. Understand Accounting Process, Accounting Cycle, 5. Understand Users of Accounting Information 6. Understand Branches of Accounting 7. Understand Basic Accounting Terms 8. Understand Accounting Assumptions, Concepts and Principles 9. Understand Rules of Accounting 10. Understand Journal, Ledger, Trial Balance and Final Accounts Preparation Course Requirements: 1. No basic knowledge is required 2. Students can approach this course with fresh mind Who Should Attend? 1. Any one interested in Learning Accountancy 2. Accounting / Finance / Science Students 3. Entrepreneurs
Views: 9554 CARAJACLASSES
Webinar: EZLynx Accounting - Direct Bill Cash Payments (All Users)
 
12:01
This video is intended for all users at an agency that uses EZLynx Accounting. Learn how to use EZLynx Accounting to collect customer payments for direct bill policies. Also, includes how to make deposits and make carrier payments.
Views: 1870 EZLynx
20  Cash Book  Payment Voucher in Accounting V2
 
01:55
AutoCount Accounting V2.0 www.autocountsoft.com
Views: 138 AutoCount
Cash Payment Journal,  নগদ প্রদান জাবেদা, Principles of Accounting, Bangla Lecture Part - 7
 
10:19
Cash Payment Journal, নগদ প্রদান জাবেদা, Principles of Accounting, Bangla Lecture Part - 7 purpetual inventory system and periodic inventory system.
Statement of Cash Flows | Intermediate Accounting | CPA Exam FAR | Chp 5 p 2
 
01:00:46
cash flow statement tutorial, cash flow statement explained, cash flow statement analysis, cash flow statement direct method, how to prepare cash flow statement, cash flow statement direct vs indirect, cash flow statement direct vs indirect, Cash flow statement FAR, Financial Accounting Reporting,FAR,FAR CPA Review,FAR CPA Exam,FAR CPA Lectures, Roger CPA FAR,CPA Exam FAR Tips, ,how to pass the CPA exam,how to study for the cpa exam,becker,cpa exam,cpa, CPA exam Tutor,CPA exam Tutoring, video, FAR video, Free FAR video The information in a statement of cash flows should help investors, creditors, and others to assess: (1) the entity’s ability to generate future cash flows; (2) the entity’s ability to pay dividends and meet obligations; (3) the reasons for the difference between net income and net cash flow from operating activities; and (4) the cash and noncash investing and financing transactions during the period. The required presentation of the statement of cash flows provides financial statement users with information about the major sources and uses of cash during the fiscal period. Classification of Cash Flows 3. The statement of cash flows classifies cash receipts and cash payments by operating, investing, and financing activities. Operating activities include all transactions and events that are not investing and financing activities. Operating activities include the cash effects of transactions that enter into the determination of net income, such as cash receipts from sales of goods and services, and cash payments to suppliers and employees for acquisitions of inventory and expenses. Operating activities involve income determination items. 4. Investing activities include (a) making and collecting loans, and (b) acquiring and disposing of investments and productive long-lived assets. Investing activities involve cash flows generally resulting from changes in long-term asset items. 5. Financing activities involve liability and stockholders’ equity items and include (a) obtaining cash from creditors and repaying the amounts borrowed, and (b) obtaining capital from owners and providing them with a return on, and return of, their investment. Financing activities involve cash flows generally resulting from changes in long-term liability and stockholders’ equity items. 6. The typical cash receipts and cash payments of a business entity classified according to operating, investing, and financing activities are shown below. Operating Activities Cash inflows From sales of goods or services. From returns on loans (interest) and on equity securities (dividends). Cash outflows To suppliers for inventory. To employees for services. To government for taxes. To lenders for interest. To others for expenses. Investing Activities Cash inflows From sale of property, plant, and equipment. From sale of debt or equity securities of other entities. From collection of principal on loans to other entities. Cash outflows To purchase property, plant, and equipment. To purchase debt or equity securities of other entities. To make loans to other entities. Financing Activities Cash inflows From sale of equity securities. From issuance of debt (bonds and notes). Cash outflows To stockholders as dividends. To redeem long-term debt or reacquire capital stock.
Automated Accounting - Cash Payments Journal, Pay cash on account with discount
 
01:19
Automated Accounting - Cash Payments Journal, Pay cash on account with discount
Views: 223 Mike Gustantino
IFRS 2 Share-Based Payment
 
09:43
http://www.ifrsbox.com Get free report Top 7 IFRS Mistakes! This is the short summary of IFRS 2 Share-based Payment. The objective of IFRS 2 is to specify the financial reporting by an entity when it undertakes a share-based payment transaction Share-based payment transaction is a transaction in which the entity either: - Receives goods or services from the supplier (including employee) in a share-based arrangement; or - Incurs an obligation to settle the transaction with the supplier in a share-based payment arrangement when another group entity receives those goods or services. Share-based payment arrangement entitles the counterparty to receive either: - Cash or other assets of the entity for amounts based on the price or value of entity's or another group entity's own equity instruments (shares, share options, etc.). These transactions are cash-settled. - Equity instruments of the entity or another group entity -- these transactions are equity-settled. How to recognize share-based payment transactions: - Goods or services received in cash-settled transactions are recognized with the corresponding credit to liabilities; and - Goods or services received in equity-settled transactions are recognized with the corresponding credit to equity. How to measure share-based payment transactions: - At fair value of goods or services received. - If it is impossible to determine (mainly in the transactions with employees), then at fair value of equity instruments granted. Vesting conditions: - If the share-based payment is not vested, then the transaction is recognized immediately at the grant date; - If the share-based payment is vested, then the transaction is recognized over the vesting period. For full summary of IFRS 2 and many other IFRS materials, please check out http:///www.ifrsbox.com
Views: 81889 Silvia M. (of IFRSbox)
(CRASH COURSE) Cash Book Accounting Tutorial In Hindi(PART 2)
 
10:29
What is a 'Cash Book' A cash book is a financial journal that contains all cash receipts and payments, including bank deposits and withdrawals. Entries in the cash book are then posted into the general ledger. Larger firms usually divide the cash book into two parts: the cash disbursement journal that records all cash payments, such as accounts payable and operating expenses, and the cash receipts journal, which records all cash receipts, such as accounts receivable and cash sales. 'Cash Book' The cash book is set up as a ledger in which all cash transactions are recorded according to date. It is a book of original entry and final entry. That is, the cash book serves as the general ledger. There is no need, as in a cash account, to transfer to a general ledger. Cash Book vs. Cash Account There are differences between a cash book and a cash account. A cash book is a separate ledger in which cash transactions are recorded, whereas a cash account is an account within a ledger. A cash book serves the purpose of both journal and ledger, whereas a cash account is structured like a ledger. Details or narration are required in a cash book, but not in a cash account. Finally, cash books use a ledger folio, while cash accounts use a journal folio. There are numerous reasons why a business might record transactions using a cash book instead of a cash account. Daily cash balances are easy to access and determine. Mistakes can be detected easily through verification, and entries are kept up-to-date, since the balance is verified daily. Cash Book Format All transactions in the cash book have two sides: debt and credit. All cash receipts are recorded on the left hand side, and all cash payments are recorded by date on the right hand side. The difference between the left and right side shows the balance of cash on hand, which always shows a debit balance. The cash book is set up in columns. The date column is the date of the transaction. In the first line, the accountant inputs the year, and in the second line, the accountant inputs the name of the month, followed by the date. In the next column, the accountant inputs the name of the opposite or contra account, along with a small description or narration of the transaction. In the ledger folio column, the accountant inputs the number of the ledger that holds the account, and the amount of the transaction. If the transaction comes with a voucher, that column may be added as well.
Views: 5451 How To Do Accounting
Statement of Cash Flow--Direct Method | Intermediate Accounting | CPA Exam FAR | Chp 23 p 3
 
20:57
Direct Method Minimum disclosure requirements for companies using the direct method include the following: Receipts a. Cash collected from customers. b. Interest and dividends received. c. Other operating cash receipts, if any. Payments a. Cash paid to employees and suppliers of goods and services. b. Interest paid. c. Income taxes paid. d. Other operating cash payments, if any. Use of the indirect method requires separate disclosure of changes in inventory, receivables, and payables relating to operating activities. Such disclosures are required for the purpose of aiding users in approximating the direct method. Direct versus Indirect Method 18. Under the direct method (also called the income statement method) cash revenues and expenses are determined. The difference between these two amounts represents net cash flows from operating activities. In essence, the direct method results in the presenta¬tion of a cash basis income statement. Under the indirect method (also called the reconciliation method), computation of net cash flows from operating activities begins with net income. This accrual-based amount is then converted to net cash provided by operating activities by adding back noncash expenses and charges and deducting noncash revenues. a. The principal advantage of the direct method is that it shows operating cash receipts and payments. Supporters contend that this is useful in estimating future cash flows and in assessing an entity’s ability to (a) generate sufficient cash flow from operations for the payment of debt, (b) reinvest in its operations, and (c) make distributions to owners. b. Proponents of the indirect method cite the fact that it focuses on the difference between net income and net cash flow from operations as its principal advantage. Also, supporters of the indirect method contend that users are more familiar with the method and it is less costly to present the statement of cash flows using this method. Special Problems in Statement Preparation 19. (L.O. 4) Some items that relate to various aspects of the statement of cash flows require special attention when preparing the statement of cash flows. a. Depreciation and amortization. Depreciation expense is added back to net income to arrive at net cash provided by operating activities. Likewise, amortization of limited-life intangible assets, deferred costs, and bond premium or discount are also adjustments to net income. b. Pension benefit costs. The difference between the pension expense recorded during the period and the amount of cash funded for the pension plan is an adjustment to net income in arriving at net cash provided by operating activities. c. Deferred income taxes. Changes in deferred income taxes affect net income, but have no effect on cash. An increase in deferred income taxes decreases net income but not cash, and therefore is added back to net income. d. Equity method of accounting. The net increase in the investment account increases net income but does not affect cash flow. The net increase is deducted from net income to arrive at net cash flow from operating activities. e. Gains and losses. Because a gain on the sale of plant assets is reported in the statement of cash flows as part of the cash proceeds from the sale of the assets under investing activities, the gain is deducted from net income to avoid double counting. A loss on sale is added back to net income, and the full cash proceeds is included under investing activities. f. Stock options. For share-based compensation plans, companies are required to use the fair value method to determine compensation cost. Compensation expense is recorded during the period(s) in which an employee performs the service if a company has a stock option plan. This expense is recorded by debiting compensation expense and crediting a stockholders’ equity account. Thus, net income is increased by the amount of compensation expense in computing net cash provided by operating activities. g. Unusual and infrequent items. Cash flows from unusual and infrequent transactions and other events whose effects are included in net income, but which are not related to operations, are reported as either investing or financing activities. h. Accounts receivable (net). An increase in the Allowance for Doubtful Accounts is added back to net income to arrive at net cash provided by operating activities. This is due to the fact that the increase in the allowance results in a charge to bad debts expense (a noncash expense). operating, investing, financing, operating activities, financing activities, investing activities, cash flows statement, statement of cash flow, financial statement, cash inflow, cash outflow, net cash used, net cash provided, non cash activities, direct method of cash flow, indirect method of cash flow, cash flow to total assets,
SapphireOne ERP, CRM & Accounting Software: Entering a Cash Payment
 
11:34
This movie demonstrates how to enter a Cash Payment from the Payables menu in the Accounts mode of the SapphireOne ERP, CRM and Accounting Software solution. Other content: - Menu design - Paper Clip - Management Review tabs - Standing Transactions
Views: 4309 SapphireOne
Receipts & Payments account (A/c of Non Profit Organisations) :-by kauserwise
 
17:18
▓▓▓▓░░░░───CONTRIBUTION ───░░░▓▓▓▓ If you like this video and wish to support this kauserwise channel, please contribute via, * Paytm a/c : 7401428918 * Paypal a/c : www.paypal.me/kauserwisetutorial [Every contribution is helpful] Thanks & All the Best!!! ─────────────────────────── Here is the video about Receipts & Payments account (A/c of Non Profit Organizations) Financial accounting simple tutorial. Hope this will help you to get the subject knowledge at the end. Thanks and All the best. To watch more tutorials pls visit: www.youtube.com/c/kauserwise * Financial Accounts * Corporate accounts * Cost and Management accounts * Operations Research Playlists: For Financial accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnojfVAucCUHGmcAay_1ov46 For Cost and Management accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnpgUjlVR-znIRMFVF0A_aaA For Corporate accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnorJc6lonRWP4b39sZgUEhx For Operations Research - https://www.youtube.com/playlist?list=PLabr9RWfBcnoLyXr4Y7MzmHSu3bDjLvhu
Views: 499097 Kauser Wise
Easy Steps to Prepare||Cash Budget||in management accounting||Solved Problem||by kauserwise
 
44:41
Here is the video about Cash Budget in Management accounting with solved problem in simple manner. Hope this will help you to get the subject knowledge at the end. Thanks and All the best. To watch more tutorials pls visit: www.youtube.com/c/kauserwise * Financial Accounts * Corporate accounts * Cost and Management accounts * Operations Research Playlists: For Financial accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnojfVAucCUHGmcAay_1ov46 For Cost and Management accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnpgUjlVR-znIRMFVF0A_aaA For Corporate accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnorJc6lonRWP4b39sZgUEhx For Operations Research - https://www.youtube.com/playlist?list=PLabr9RWfBcnoLyXr4Y7MzmHSu3bDjLvhu
Views: 612133 Kauser Wise
Cash Discount Program - Customer Testimonial EZ Pay (Accountant)
 
02:25
Cash Discount Program Customer Testimonial from Marcy, an accountant, shares her experience with the clients she has referred to EZ Pay. Many business owners are concerned about trying a new program, and many want an accountants opinion. Most involved and active accountants would agree with Marcy. Way to look out for your clients best interest, being as far into the profits as possible. Visit http://ezpay.company/cash-discount-program for more FAQ's and information.
Views: 849 EZ Pay Processing
Overview & Purpose of Statement of Cash Flows | Intermediate Accounting | CPA Exam FAR | Chp 23 p 1
 
27:12
cash flow statement tutorial, cash flow statement explained, cash flow statement analysis, cash flow statement direct method, how to prepare cash flow statement, cash flow statement direct vs indirect, cash flow statement direct vs indirect, Cash flow statement FAR, Financial Accounting Reporting,FAR,FAR CPA Review,FAR CPA Exam,FAR CPA Lectures, Roger CPA FAR,CPA Exam FAR Tips, ,how to pass the CPA exam,how to study for the cpa exam,becker,cpa exam,cpa, CPA exam Tutor,CPA exam Tutoring, video, FAR video, Free FAR video The information in a statement of cash flows should help investors, creditors, and others to assess: (1) the entity’s ability to generate future cash flows; (2) the entity’s ability to pay dividends and meet obligations; (3) the reasons for the difference between net income and net cash flow from operating activities; and (4) the cash and noncash investing and financing transactions during the period. The required presentation of the statement of cash flows provides financial statement users with information about the major sources and uses of cash during the fiscal period. Classification of Cash Flows 3. The statement of cash flows classifies cash receipts and cash payments by operating, investing, and financing activities. Operating activities include all transactions and events that are not investing and financing activities. Operating activities include the cash effects of transactions that enter into the determination of net income, such as cash receipts from sales of goods and services, and cash payments to suppliers and employees for acquisitions of inventory and expenses. Operating activities involve income determination items. 4. Investing activities include (a) making and collecting loans, and (b) acquiring and disposing of investments and productive long-lived assets. Investing activities involve cash flows generally resulting from changes in long-term asset items. 5. Financing activities involve liability and stockholders’ equity items and include (a) obtaining cash from creditors and repaying the amounts borrowed, and (b) obtaining capital from owners and providing them with a return on, and return of, their investment. Financing activities involve cash flows generally resulting from changes in long-term liability and stockholders’ equity items. 6. The typical cash receipts and cash payments of a business entity classified according to operating, investing, and financing activities are shown below. Operating Activities Cash inflows From sales of goods or services. From returns on loans (interest) and on equity securities (dividends). Cash outflows To suppliers for inventory. To employees for services. To government for taxes. To lenders for interest. To others for expenses. Investing Activities Cash inflows From sale of property, plant, and equipment. From sale of debt or equity securities of other entities. From collection of principal on loans to other entities. Cash outflows To purchase property, plant, and equipment. To purchase debt or equity securities of other entities. To make loans to other entities. Financing Activities Cash inflows From sale of equity securities. From issuance of debt (bonds and notes). Cash outflows To stockholders as dividends. To redeem long-term debt or reacquire capital stock.
Accounting Cash Journal
 
09:57
The cash journal is a subledger of Bank Accounting. It is used to manage a company's cash transactions. The system automatically calculates and displays the opening and closing balances, and the receipts and payments totals. You can run several cash journals for each company code. You can also carry out postings to G/L accounts, as well as vendor and customer accounts. The cash journal is a single-screen transaction. This means that you can enter, display, and change cash journal documents on one screen. You have the following options: Entering, saving, and posting cash journal entries You can save cash journal entries locally in the cash journal. The system also calculates the balances. The cash journal entries saved are then posted to the general ledger. For a cash journal document, you can carry out CO account assignments, and have taxes, including withholding taxes, calculated by the system with reference to business transactions, taking account of tax jurisdiction codes, for example. Displaying follow-on documents You can also display the follow-on documents arising for the cash journal entries posted. Defining cash journal business transactions As well as defining cash journal business transactions in Customizing, you can also, if necessary, define a new business transaction while you are making entries in the cash journal. Printing the cash journal You can print all of the cash journal entries posted in the time period displayed. You select the print form in Customizing. Printing receipts You can print the cash journal entries saved. You select the print form in Customizing. Deleting cash journal entries saved If you have the appropriate authorization, you can delete cash journal entries that have been saved. Displaying all cash journal documents that have been deleted You can display all the cash journal documents that have been deleted within a specific time period. Changing the cash journal You can change the cash journal and the company code while you are processing entries. Category Education SAP SE (Systems, Applications & Products in Data Processing) is a German multinational software corporation that makes enterprise software to manage business operations and customer relations. SAP is headquartered in Walldorf, Baden-Württemberg, Germany, with regional offices in 130 countries.The company has over 293,500 customers in 190 countries. In 1973, the first commercial product was launched. It was called SAP R/98 and offered a common system for multiple tasks. This permitted the use of a centralized data storage, improving the maintenance of data. From a technical point of view, therefore, a database was necessary. In 1976, SAP GmbH was founded, and moved its headquarters the following year to Walldorf, Germany. Three years later, in 1979, SAP launched SAP R/2, expanding the capabilities of the system to other areas, such as material management and production planning. In 1981, SAP brought a re-designed product to market.
Views: 672 SAP Tutor Channel
Sales Journal  বিক্রয় জাবেদা,  BBA Honours  First year Accounting Bangla Lacture Part -2
 
10:56
Sales Journal বিক্রয় জাবেদা, BBA Honours First year Accounting Bangla Lacture Part -2 Sales journal Purchases Journal Cash payment journal And Cash received journal Adjustment Process and Completing the Accounting Process: Key aspects of the Accrual basis of accounting, Cash accounting and Break-up basis of accounting-Adjustments-Adjusted Trial Balance-Preparation of Work Sheet-Closing Entries-Post-Closing Trial Balance-Reversing Entries.Merchandising Operations and Accounting System: Merchandising Operations and Classifying Inventory-Purchases, Sales, Other Use or Loss and Returns of Merchandise Inventory-Periodic and Perpetual Inventory Systems and Journal Entries-Specific Identification Method and Inventory Cost Flow Assumption (FIFO, LIFO and Average Cost). General Journal for BBA Bangle Lecture Accounting Systems and Special Ledgers: Manual and Computerized Accounting Systems and their effectiveness-The Voucher System-General Ledgers and Subsidiary Ledgers: General Ledger Control Accounts and Subsidiary Ledger Individual Accounts. Special Journals: Advantages of Special Journals-Cash Receipts Journal-Sales Journals-Purchase Journal-Cash Payments Journal and General Journal. Control of Cash: Controlling cash, Internal control. Petty Cash, Bank Reconciliation Statement. Accounting for Receivable and Current Liabilities: Receivable-Types of Receivables valuing and disposing Uncollectible accounts-Allowance for doubtful accounts. Financial Statements : Idea on a Complete Set of Financial Statement. Purpose and interrelationship of the Financial Statement. Importance, Limitations & Preparation of Financial Statements. Supplementary Statements/Schedules. Preparation of Financial
Statement of Cash Flows--Introduction | Financial Accounting | CPA Exam FAR | Chp 16 p 1
 
26:11
Purpose and Usefulness of the Statement of Cash Flows 2. (L.O. 1) The information in a statement of cash flows should help investors, creditors, and others to assess: (1) the entity’s ability to generate future cash flows; (2) the entity’s ability to pay dividends and meet obligations; (3) the reasons for the difference between net income and net cash flow from operating activities; and (4) the cash and noncash investing and financing transactions during the period. The required presentation of the statement of cash flows provides financial statement users with information about the major sources and uses of cash during the fiscal period. Classification of Cash Flows 3. The statement of cash flows classifies cash receipts and cash payments by operating, investing, and financing activities. Operating activities include all transactions and events that are not investing and financing activities. Operating activities include the cash effects of transactions that enter into the determination of net income, such as cash receipts from sales of goods and services, and cash payments to suppliers and employees for acquisitions of inventory and expenses. Operating activities involve income determination items. 4. Investing activities include (a) making and collecting loans, and (b) acquiring and disposing of investments and productive long-lived assets. Investing activities involve cash flows generally resulting from changes in long-term asset items. 5. Financing activities involve liability and stockholders’ equity items and include (a) obtaining cash from creditors and repaying the amounts borrowed, and (b) obtaining capital from owners and providing them with a return on, and return of, their investment. Financing activities involve cash flows generally resulting from changes in long-term liability and stockholders’ equity items. 6. The typical cash receipts and cash payments of a business entity classified according to operating, investing, and financing activities are shown below. Operating Activities Cash inflows From sales of goods or services. From returns on loans (interest) and on equity securities (dividends). Cash outflows To suppliers for inventory. To employees for services. To government for taxes. To lenders for interest. To others for expenses. Investing Activities Cash inflows From sale of property, plant, and equipment. From sale of debt or equity securities of other entities. From collection of principal on loans to other entities. Cash outflows To purchase property, plant, and equipment. To purchase debt or equity securities of other entities. To make loans to other entities. Financing Activities Cash inflows From sale of equity securities. From issuance of debt (bonds and notes). Cash outflows To stockholders as dividends. To redeem long-term debt or reacquire capital stock. 7. Some cash flows relating to investing or financing activities are classified as operating activities. For example, receipts of investment income (interest and dividends) and payments of interest to lenders are classified as operating activities. Conversely, some cash flows relating to operating activities are classified as investing or financing activities. For example, the cash received from the sale of property, plant, and equipment at a gain, although reported in the income statement, is classified as an investing activity, and the effect of the related gain is not included in net cash flow from operating activities. Likewise a gain or loss on the payment of debt is generally part of the cash outflow related to the repayment of the principal amount borrowed and, therefore, is a financing activity. Preparing the Statement of Cash Flows 8. (L.O. 2) The information used to prepare the statement of cash flows generally comes from three major sources: (a) comparative balance sheets, (b) the current income statement, and (c) selected transaction data. Actual preparation of the statement of cash flows involves three steps: a. Determine the change in cash. The difference between the beginning and ending cash balance can be easily computed from an examination of the comparative balance sheets. b. Determine the net cash flow from operating activities. This procedure involves analyzing not only the current year’s income statement, but also comparative balance sheets, as well as selected transaction data. c. Determine the net cash flows from investing and financing activities. All other changes in the balance sheet accounts must be analyzed to determine their effect on cash. operating, investing, financing, operating activities, financing activities, investing activities, cash flows statement, statement of cash flow, financial statement, cash inflow, cash outflow, net cash used, net cash provided, non cash activities, direct method of cash flow, indirect method of cash flow, cash flow to total assets,
Cash payment from your retirement savings - Royal London
 
01:31
Have all your savings paid as a cash lump sum.
Views: 2193 Royal London
Internal Control Over Cash Receipts | Financial Accounting | CPA Exam FAR | Ch 7 P 2
 
11:29
Internal control, sarbanese-oxley, public company, internal control components, control procedures, risk assessments, information system, monitoring of controls, environment, tone at the top, internal auditor, external auditor, separation of duties, encryption
Petty Cash Fund Financial Accounting CPA Exam FAR
 
05:32
Webiste: www.farhatlectures.com Like us on Facebook: https://www.facebook.com/accountinglectures Visit the website where you can search using a specific term: http://www.farhatlectures.org/ Connect with Linked In: https://www.linkedin.com/in/mansour-farhat-cpa-cia-cfe-macc-2453423a/ using checks to pay small amounts is both impractical and a nuisance. For instance, a company would not want to write checks to pay for postage due, working lunches, or taxi fares. A common way of handling such payments, while maintaining satisfactory control, is to use a petty cash fund to pay relatively small amounts. The operation of a petty cash fund, often called an imprest system, involves (1) establishing the fund, (2) making payments from the fund, and (3) replenishing the fund.3
Recording Of Transactions - I - Accounting Equation Solutions - Problem 8 - Solution
 
33:18
Show the effect of the following transactions on the accounting equation: a. Manoj started business with i. Cash ₹ 2,30,000 ii. Goods ₹ 1,00,000 iii. Building ₹ 2,00,000 b. He purchased goods for cash ₹ 50,000 c. He sold goods (Costing ₹ 20,000) ₹ 35,000 d. He purchased goods from Rahul ₹ 55,000 e. He sold goods to Varun (Costing ₹ 52,000) ₹ 60,000 f. He paid cash to Rahul in full settlement ₹ 53,000 g. Salary paid by him ₹ 20,000 h. Received cash from Varun in full settlement ₹ 59,000 i. Rent outstanding ₹ 3,000 j. Prepaid Insurance ₹ 2,000 k. Commission received by him ₹ 13,000 l. Amount withdrawn by him for personal use ₹ 20,000 m. Depreciation charge on building ₹ 10,000 n. Fresh capital invested ₹ 50,000 o. Purchased goods from Rakhi ₹ 10,000 Additional content on this topic can be found at http://www.eduxir.com/curriculum/cbse/class-xi/accountancy/recording-of-transactions-i/recording-of-transactions-i-accounting-equation-solutions
Views: 456 Eduxir
Quickbooks Petty Cash
 
13:45
There are a lot of different ways to fund and replenish petty cash in Quickbooks. This video goes over some of the primary ways to handle a petty cash, including reconciling the account.
Views: 90272 PaperTrailFinancial
Intro to Managerial Accounting: Financial Budget
 
56:23
Introduction to Managerial Accounting Professor Tatianna Gershberg Lecture: Financial Budget Financial Budget 0:10 Cash Budget 1:52 Example (Budgeted Cash Collections from Customers) 3:16 (Budgeted Cash Payments for Purchases) 5:44 (Budgeted Cash Payments for Operating Expenses) 6:54 (Cash Budget) 10:39 Getting Employees to Accept the Budget 15:35 Example (S22-5) 18:38 Example (S22-7) 25:42 Budgeted Balance Sheet 42:48 Budgeted Statement of Cash Flow 44:43 Sensitivity Analysis 46:09 Rolling Up Budgets 49:33 Example (S22-9) 51:58 We discuss the financial budget today, and its importance. The cash budget, budgeted balance sheet, and the budgeted statement of cash flows are all part of the financial budget. We go into detail about each of those budgets, and use examples to fully understand their importance to accounting. The most important part of the budgeting system is to get employees to accept the budget. Managers must motivate employees to accept the budget's goals. To do this, managers must support the budget themselves (otherwise, nobody else will). Managers must also show employees how budgets can help them achieve better results (which will entice them to accept it). Most importantly, managers must give employees the opportunity to participate in developing the budget so that they feel more involved. The master budget models the company's planned activities. Technology makes it more cost-effective for managers to conduct sensitivity analysis on their own unit's budget. The sensitivity analysis is a what-if technique that determines the result if predicted amounts differ from those budgeted. To conduct a sensitivity analysis, spreadsheet programs such as Microsoft Excel can be used (which is cost effective). What-if budget questions can be easily changed in Excel. Comprehensive sensitivity analyses can be performed. Managers must react quickly if key assumptions underlying the master budget (such as sales price or quantity) turn out to be wrong. Combine individual unit budgets to create the company-wide master budget. Individual operating units roll up budgets to prepare the company-wide budget. Budget management software is used, which is often part of an enterprise resource planning (ERP) system. It allows management to conduct sensitivity analysis on unit data. Managers can spend less time compiling and summarizing data and more time actually studying and analyzing the data. To receive additional updates regarding our library please subscribe to our mailing list using the following link: http://rbx.business.rutgers.edu/subscribe.html