FMS Financial-Accounting Asker

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Accounting

Accounting is a statement of revenues, accounting expenses, assets and liabilities to players as companies, corporations, municipalities, states and organizations. The financial statements are an aid to assess the financial status of the accounting subject. The two main components of the financial statements are the balance sheet is a snapshot that shows the financial position as at 31/12, while the results show the economic development between the two periods, or how profits have emerged [1]. There are several interested parties to a corporate account, internally and externally, for example, current and prospective owners (investors), regulators, employees, customers and suppliers, banks and financial institutions, management and styret.Regnskapstyper There are two types of accounts: Financial statements, which also called financial accounts or external accounts, is regulated in Norway of Accounting and set criteria for who is regnkapspliktige and thus is required to submit annual accounts to the Register in Brønnøysundregistrene. It is also customary to prepare accounts and publish quarterly financial statements or interim financial statements, showing the accounts for a smaller period than the entire year. called cost accounting. Managerial Accounting is not regulated by public law because it is a control and monitoring tools used by the company for their own purposes such as in the budgeting process and therefore are not obliged to make public. The layout of the Norwegian Financial Statements The second type of accounting is management accounting as well Luca Pacioli (1445 - 1517), also known as Friar Luca dal Borgo, is credited as the father of modern accounting and the principle of double entry bookkeeping [2]. Before today's IT technology, was recognized in the accounting major books. It was used a T-account set-up where a broad book had many accounts (columns). T-account in a T-account set-up, each account is divided into 2 columns. The left side is called debit and credit the right side. Keeping of accounting means that all transactions are recorded twice in the accounts: The amount attributed to debit an account and credited to another account statement. Such recognition goes to zero, if one considers the debit-lead as a positive number and credit guide as a negative number. When all the credit columns and all debit columns are added separately, the total debit and total credit for the entire statement be the same number, ie balance. Today's software for accounting systems based almost exclusively on the T-account basis. t electronic accounting system is normally a computer program that consists of several modules that can be integrated with each other and can cover functions such as order receipt, customer management (CRM), inventory management, production and project management, goods receipt and goods delivery. Accounting Use of ICT systems will benefit a lot, then the data can be processed quickly, reports can be produced quickly, and the systems include automatic which makes implementation easier for users. Until a few years ago it was common for accounting systems were installed on users' machines. In recent years, has gone on to use Web services for bookkeeping. The advantages of it are many, including accessibility from multiple locations, both workplace and home, and the ability to audit where the auditor can do a lot of work directly from his office. Accounting The financial statements of Norway consists of 4 main parts: Earnings, balance sheet, cash flow statement and notes. The result shows the company's earnings and profitability. The balance sheet shows Regnskaphva company owner (debit) and how it is financed (credit). The cash flow statement shows the cash flows arising as a result of its operations, often split up into three main activities, operations, financing and investment. Note The information will provide further explanations that do not appear in the accounts and provide information including the company's largest shareholders and what is paid in directors' fees. The annual report consists of financial statements (with the four main parts) + annual report. Historical development when all entries are summarized account of the account can be set up an income statement. Often, groups together several accounts that naturally belong together for better accounting oversight. Balance sheet account group consists of 1 & 2, while the income statement consists of all account groups from 3 to 8 See the chart of accounts for def. of these account groups. The income statement summed up to an operating profit. Summarizes the results from the debt and equity should this reflect the sum of assets. Accounting Universe

Accounting Asker

If we assume the accounts as a separate universe, where all movements are currents that flow from credit to debit different accounts. This statement is not something that goes in and out of this universe, so all that is posted on the credit will end up in the debit somewhere. When we get the money from a customer, there is a flow from accounts receivable to the bank account. When we sell a commodity is a flow from a sales account to account for receivables. We can say that what happens within this universe reflects what happens in the physical universe - and that's exactly what accounting is all about: to document the activities in the physical universe. We can say that this model could be called bipolar accounting instead, and universal model fit as well since we live in a bipolar universe [citation needed]. Although the debit and credit is defined as + and -, used this practice often in cases where the balances of accounts should appear in a column. If one adds together all of these for all accounts in our financial universe, the sum will always be 0 Accounting Principles Bookkeeping is to keep the individual transactions to reflect the economic impact of the activities accounting as the accounting unit is involved in, while the statement is the sum of all the different transactions that have taken place during the period. Accounting Bookkeeping in Norway in Norway is regulated by the Accounting Act. In one recorded the Appendix. Each supplement is taken for both credit and debit against an account. (This statement is more than 300 accounts in Norwegian Standard 4102 accounts). In the appendix have debit and credit entries opposite sign, and added entries for all documents, the sum will always be 0 (ie that it is posted as much on debit as the credit). An appendix has a given date, type, document number and descriptive text. Appendix types can be included invoices, accounts outgoing invoices, cash receipts, miscellaneous receipts and payroll vouchers, and any cash journal vouchers. Attachment type is a categorization of journals so that one can easily obtain the documents that are of the same type. Earnings and balance all can keep accounts of their own business, but one should keep records and be responsible for the financial statements on other company's behalf are required to be certified public accountant. External links

Accounting Asker

Accounting Accounting Accounting Accounting Act, Act NARF (The Norwegian Association of Authorised Accountants) See also All that is Accounting accountable also keep books, but not all keep books is accountable. Financial obligation is all the companies, both those listed and unlisted, as well as partnerships, sole proprietorships and associations of a certain size.