Departmental accounting involves keeping separate accounts for each department within a company to track their individual profits and losses. While not common practice, some companies set up strategic business units to require certain departments to track their financial contributions. Departmental accounting allows departments involved in multi-step production processes, like a car factory, to keep their own accounts for inputs, processes, and outputs between departments.
Financial statement analysis is the process of reviewing and evaluating a company's financial statements (such as the balance sheet or profit and loss statement), thereby gaining an understanding of the financial health of the company and enabling more effective decision making. Financial statements record financial data; however, this information must be evaluated through financial statement analysis to become more useful to investors, shareholders, managers and other interested parties.
Techniques of Financial Statement Analysis: Introduction, Objectives of financial statement analysis, various techniques of analysis viz Common Size Statements, Comparative Statements, Trend Analysis, Ratio Analysis, Funds Flow Statement & Cash Flow Statement
For full text article go to : https://www.educorporatebridge.com/finance-for-non-finance/finance-for-non-finance-professionals/
This article on Finance for Non Finance Professionals will help you to gain basic finance knowledge, accounting concepts and better understanding of financial statement required for growth of your organization.
Financial statement analysis is the process of reviewing and evaluating a company's financial statements (such as the balance sheet or profit and loss statement), thereby gaining an understanding of the financial health of the company and enabling more effective decision making. Financial statements record financial data; however, this information must be evaluated through financial statement analysis to become more useful to investors, shareholders, managers and other interested parties.
Techniques of Financial Statement Analysis: Introduction, Objectives of financial statement analysis, various techniques of analysis viz Common Size Statements, Comparative Statements, Trend Analysis, Ratio Analysis, Funds Flow Statement & Cash Flow Statement
For full text article go to : https://www.educorporatebridge.com/finance-for-non-finance/finance-for-non-finance-professionals/
This article on Finance for Non Finance Professionals will help you to gain basic finance knowledge, accounting concepts and better understanding of financial statement required for growth of your organization.
Meaning of financial statement
Objectives of financial statement
Characteristics of financial statement
Nature of financial statement
Balance sheet
Format of balance sheet
Illustrations
Exercises
Statement of profit & loss
Format of statement of profit & loss
Notes of statement of profit &loss
Illustrations
Exercises
1. Cash Flow statement
2. Permanent & Temporary Working Capital
3. Cash Flow and Common Size Statement
4. EOQ & Safety Stock
5. Return on Equity & Return on Capital Employed
Understanding Basics of Financial StatementsAnkita6745
Understanding the basic concepts and term used in the Financial Statements.Understanding the ratios used for analyzing the Financial Statements.Discussing factors that drive corporate valuations.
statement of cash flow and statement of retained earnings.sabaAkhan47
its a lecture on statement of cash flow....in this lecture the following things are explained...
1) objectives of cash flow.
2) purpose and uses of cash flow.
3) methods to determine net cash flow
4)relation between different statements...
5) statement of retained earnings,
6) and a case study of D'Leon Inc.
7)security,debt security, equity security, amortization,accruals.
The existing business environment is very turbulent so corporate houses find it very difficult in managing their financial statement. In such scenario, financial management plays significant role for the companies for managing and organizing their financial data and
statements. In the following study different financial tools and techniques will be applied on the London Woods company to analyze its financial performance which will help it in decision making.
Meaning of financial statement
Objectives of financial statement
Characteristics of financial statement
Nature of financial statement
Balance sheet
Format of balance sheet
Illustrations
Exercises
Statement of profit & loss
Format of statement of profit & loss
Notes of statement of profit &loss
Illustrations
Exercises
1. Cash Flow statement
2. Permanent & Temporary Working Capital
3. Cash Flow and Common Size Statement
4. EOQ & Safety Stock
5. Return on Equity & Return on Capital Employed
Understanding Basics of Financial StatementsAnkita6745
Understanding the basic concepts and term used in the Financial Statements.Understanding the ratios used for analyzing the Financial Statements.Discussing factors that drive corporate valuations.
statement of cash flow and statement of retained earnings.sabaAkhan47
its a lecture on statement of cash flow....in this lecture the following things are explained...
1) objectives of cash flow.
2) purpose and uses of cash flow.
3) methods to determine net cash flow
4)relation between different statements...
5) statement of retained earnings,
6) and a case study of D'Leon Inc.
7)security,debt security, equity security, amortization,accruals.
The existing business environment is very turbulent so corporate houses find it very difficult in managing their financial statement. In such scenario, financial management plays significant role for the companies for managing and organizing their financial data and
statements. In the following study different financial tools and techniques will be applied on the London Woods company to analyze its financial performance which will help it in decision making.
This powerpoint presentation is created by Gyanbikash.com for the students of class nine to ten from their accounting NCTB textbook for multimedia class.
Accounting is a systematic process of recording, analyzing and summarizing transactions of an entity.
* The transactions are recorded in the books of original entry
* The transactions are then analyzed and posted in the Ledgers
Finally, the transactions are summarized in the Financial Statements
Vacation rental management budgeting and financial management 401Amy Hinote
Budgeting and managing finances for vacation rental managers: An in-depth four hour boot camp incorporating more hands-on knowledge of how to manage the financial landscape and use budgeting as a foundational tool to grow the business and meet future goals.
Vacation rental management budgeting and financial management 401
Account's assignment
1.
2. The second step in the minimum standards for performing departmental account reconciliations is to review ledger sheets for propriety and trends. See page 4 for additional examples of reconciling items.Example Charges to AccountsSupporting DocumentationPayrollApproved Personnel Action Form/Time SheetTravel ReimbursementApproved Travel VoucherEquipmentApproved Purchase Order/InvoiceConsultant ServicesApproved Contract<br />Step 3 – Correcting Entries<br />The third step in the minimum standards for performing departmental account reconciliations is to note whether correcting entries from previous month’s reconciliations have been posted to the current month’s ledger sheets and to propose correcting entries, if necessary, as a result of the current month’s reconciliations.<br />Remember: Reconciling departmental accounts makes good business sense.<br /> <br />EXAMPLES OF RECONCILING ITEMS<br />Category/ItemResponsible PartyGeneral Amount charged to wrong accountR, SA credit or deposit which should have been made to an account R, SData input or keying errorR, SPurchase order which was issued but account was not encumberedR, SPreviously encumbered amount was paid but was not disencumberedR, SDuplicate payment or documentation is not originalR, SPayroll Review salary information R, STerminated employees salaries still on accountR,SEmployees listed are bona fideR, SOvertime pay is unreasonable – overtime increased after supervisor signs off time card.STravel Employee reimbursed twice (duplicate payment)R, STrip cancelled but account still chargedR, STravel vouchers submitted for travel not takenR, STravel expenses inflatedSUTHSC-H Buycard Purchases are not for official business purposesR,SSupporting documentation not on fileR, Cellular phones Employees reviewed charges and reimbursed for personal callsR, SLong Distance Charges Charges are for official business purposes and length of calls are reasonableSPetty Cash Reimbursements Supporting documentation (original) on fileRSupervisor approved the reimbursement SCopy Charges Charges are reasonableR,S<br />