Describe the advantages/benefits from having a good Computerized Sales Ledger Module. Name the good features that a Computerized Accounting Sales Ledger Module should have.

COMPUTERIZED ACCOUNTING SALES LEDGER MODULE BENEFITS OR ADVANTAGES Enable management to: produce accurate management information recognize as early as possible debtors who are slowing down payments prevent the chasing of debts already settled identify customers who have reached their credit limit ensure customers comply with any agreed payment schedule GOOD FEATURES OF A COMPUTERIZED SALES … Read more

Items Normally Included in The Selling And Distribution Expenses, Administration Expenses and Finances Expenses of the Income Statement

Major Expenses Category In Income Statement Selling And Distribution Expenses  Category of the Income Statement These are expenses associated with the process of selling and delivering goods and services to customers:- Salaries of marketing manager, sales director and sales management Salaries and commission of salesmen Travelling and entertainment expenses of salesmen Marketing costs like advertising … Read more

Explain The Title ACA And ACCA

  The title ACA And ACCA   The Associate Chartered Accountant (ACA) qualification is offered by the Institute of Chartered Accountants in England and Wales (ICAEW). It is widely recognized around the world as a top level financial business qualification. With over 127,000 members, 15,000 of whom live and work outside the UK, ICAEW is … Read more

More Information for Students Pursuing ACCA Examination

Earlier article on ACCA Examination Syllabus refers. Below are further details for those who are interested to pursue the ACCA examination:   WHO TO CONTACT for further information on entry requirements, ACCA exam registration and exemptions  ACCA Connect 2 Central Quay, 89 Hyde Park Street Glasgow G3 8BW, United Kingdom Tel: +44 (0) 141 582 … Read more

IAS 24 or FRS 124 Regarding Examples Of Transactions Between Related Parties

IAS 24 and Malaysia’s FRS 124 deal with Related Party Disclosures. Name some examples of Related Party Transactions Examples Of Related Party Transactions are: Purchases or sales of goods (finished or unfinished) Purchases or sales of property or other assets Rendering or receiving of services Leases Transfers of research and development Transfers under license agreements … Read more

Accountants is in the Top 5 Hardest Jobs to Fill in America

This article is extracted from yahoo and is written by Mary Fineday, This article is useful for those who wants to know what are the professions that are in high demand in United States. Incidentally, the range of pay is also indicated. Not  surprising  is the fact that the Accounting  Profession is still being recognized … Read more

Under FRS 123, What Is The Criteria, Accounting Treatment of Borrowing Costs and The Limitations to The Amount That Can Be Capitalized

Criteria for Capitalization of borrowing costs: FRS 123 prescribes that borrowing costs can be capitalized on qualifying assets. Borrowing costs definition are interest and other costs incurred in relation to borrowing of funds. This includes interest amortization of discounts, premiums and ancillary costs relating to borrowings. For qualifying asset, it is an asset that takes … Read more

Roles/Duties/Job Specification Of Corporate Strategy Manager

Roles/Duties/Job Specification Of A Corporate Strategy Manager Identify and evaluate new investments opportunities Formulate corporate strategies and structure corporate proposals in line with Group’s mission and vision Undertake, coordinate and implement the Group’s strategic planning activities and corporate development initiatives Prepare financial studies and forecasts, corporate proposal papers for evaluation and strategic business planning Risk … Read more

Simple Illustration Of How To Compute Using Flexible Budgeting

Earlier article describe what is flexible budget. Below is a simple illustration of flexible budgeting. Company ABC manufactures a single product and has produced the following flexed budget for the year.Level Of Activity 70% 80% 90% $ $ $ Direct materials 17,780 20,320 22,860 Direct labor 44,800 51,200 57,600 Production overhead 30,500 32,000 33,500 Administration … Read more

What Are The Steps Involved In The Preparation Of The Master Budget

Earlier article describe what is capital, operating, summary and master budget. In brief, the master budget is the summary budget which consolidates the information from all subsidiary budgets. It usually comprises the budgeted Income statement, budgeted balance sheet and cash budget. The master budget is a very significant planning tool which is reviewed by the … Read more