Practiceeye

The Panama Papers history and what it is?

The Panama Papers are a phenomenal break of 11.5m records from the database of the world’s fourth greatest seaward law office, Mossack Fonseca. The records were acquired from a mysterious source by the German daily paper Süddeutsche Zeitung, which imparted them to the International Consortium of Investigative Journalists (ICIJ). The ICIJ then imparted them to an extensive system of worldwide…

Recordkeeping and Dealing with an Accountant importance in Bookkeeping Outsource

As a rule, with a little study and acclimation with your accounting programming, you ought to have the capacity to deal with your most essential budgetary records without the assistance of a bookkeeper. This incorporates the everyday recording of exchanges, support of a general record, and upkeep of your money records. There are some different records you may need to keep up, contingent upon…

Posting in accounting: What is it?

Posting in bookkeepingis the point at which the parities in subledger and the general diary are moved into the general record. Posting just exchanges the aggregate parity in a subledger into the general record, not the individual exchanges in the subledger. A bookkeeping supervisor may choose to take part in posting generally rarely, for example, once per month, or maybe as habitually as once…

Steps for Starting With QuickBooks Accounting Tools

Now that you’re most likely arranging your funds for recording your 2012 business charges, you might need to consider – or reevaluate – the devices that make up your organization’s bookkeeping base.

Little organizations need a bookkeeping arrangementthat is secure, adaptable and simple to impart to a bookkeeper. One mainstream choice – that conveys on each of these checks – is Mountain View,…

Practice Eye Cash Flow Analysis: Case Study

Analysis Cash Flow to Gain New Business

Practice Eye recently received a call from a young lady who had started a manufacturing and retail business. She manufactures very high end bridal and other types of gowns. The gowns are sold in her retail stores ranging in price from $4,500 to $10,000.

She is a great designer but has little business experience. She started the business with $85,000. Our…

Accounting Equation

According to Practice Eye accountant experts following is the accounting equation:

Assets = Liabilities + Owners’ equity

This equation must be in balance at all times. Therefore, if one element in the equation changes, some other elements must also change to maintain the balance. Thus, at least two accounts are affected by every transaction. The term double entry in double…

General Provisions regarding Financial Regulations

The key requirements of the financial regulations are contained within the main chapters. However, this should be read in conjunction with the ‘additional information’ which sets out in the more detailed elements of the regulations that are contained within the respective appendices

1.Purpose and Objectives of Financial Regulations

  Introduction

  The Financial Regulations are intended to…

Auditing is the on location confirmation movement, for example, review or examination, of a procedure or quality framework, to guarantee consistence to necessities. A review can apply to a whole association or may be particular to a capacity, procedure, or creation step. An audit is a “methodical, autonomous and archived process for acquiring review proof [records, explanations of truth or other…

GENERALLY ACCEPTED ACCOUNTING PRINCIPLES

The Accounting Principles Board served as the deliberative body for the American Institute of Certified Public Accountants (AICPA), a professional association for those in the accounting industry. This board offered opinions and statements on generally accepted accounting principles (GAAP) in the United States from 1959 to 1973. These standards are used by accountants with federal agencies and…

iXBRL reporting – how it impacts your business

There are following impacts indicate by Practice Eye company:

1 Basic principles

iXBRL is purely concerned with the introduction of computer-readable XBRL tags into business reports to enable automated handling of financial data. It should not otherwise change the nature and content of company business reports. That continues to be determined by individual companies in the light  of accounting…