ACCOUNTING DEPARTMENT: ACVANCED EXCEL ACCOUNTING COURSE

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serves you for learning the basic computer knowledge for leading a prosperous professional career or in case you intend to do business, it allows you the fundamental guidelines as to running a business in an efficient and profitable way, leading you towards the pathway to success.

improves students’ research skills by encouraging them to look for information on the Internet. It enables them to research various topics by seeking relevant books that could be digitally available online. The Internet also contains search options, which expose students to diverse ways of obtaining information. Thanks to the speedy nature of the Internet, students can research their desired topics within minutes

ADVANCED EXCEL ACCOUNTING course

What is the meaning of accounting theory?

Accounting theory is a set of assumptions and methodologies used in the study and application of financial reporting principles.

What is the concept of accounting?

Rules of accounting that should be followed in preparation of all accounts and financial statements. The four fundamental concepts are. (1) Accruals concept: revenue and expenses are recorded when they occur and not when the cash is received or paid out; ... Other concepts include.

What is the financial accounting?

Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.

Accounting Operations: Credit & Debit

Accounting approaches the world of economic transactions from the viewpoint of Capital Transformation. Accounting books record the source of the Capital and the form it takes after passing through a company's productive & administrative mechanism. Since Accounting wants to capture these two pieces of information (whence the Capital comes - to what it is transformed), it needs two operations - and Accounting has indeed two and two only operations: Credit & Debit. Traditionally we always say "Debit & Credit" and we always put "Debits" to the "left" (of a page) and "Credits" to the "right" (of a page). But causally speaking, the act which the operation "Credit" captures comes first: because Credit shows the source of the Capital, while Debit shows to what the capital has been transformed before. That's why "A Debit must always equal the corresponding Credit".
Suppose now that the company's Board of Directors, after receiving the cash from the shareholders, decides to spend it in order to buy new productive equipment, striking a deal with a supplier to pay him or her after 60 days from purchasing the equipment. In order to reflect this transaction we need to record two different Accounting Entries.
A) The purchasing of the equipment under 60 days credit terms. Here, since we are buying "on credit", the supplier essentially supplies us with Capital (for 60 days). So we will Credit the Suppliers Account in order to show that we initially are buying the equipment using the suppliers capital, and we will Debit a Fixed Assets account (with equal amount) in order to show that we transformed this capital into Equipment.
B) The cash payment for the equipment after 60 days. Here Accounting sees that capital available to us in the form of Cash (the initial shareholders capital increase in cash), is transformed into Capital returned to supplier. So we will Credit our Bank Account (to show whence capital comes), and we will Debit the Suppliers Account to show to what we have transformed this capital (into Capital Returned to the Supplier).

ADVANCED ACCOUNTING covers accounting operations, patterns, merger of public holding companies, foreign currency operations, changing financial statement prepared in foreign and local currencies. Advanced accounting also includes a variety of advanced financial accounting issues such as lease contracts, pension funds, end of service severance payments, etc.

The Advanced Accounting Rule is a powerful feature that allows you to post to multiple general ledger accounts for a single product. Examples include mapping to multiple fund sources based on payment type, or mapping fees or penalties to specific income accounts.

Accountancy may have been an elaboration of an accidental discovery, much like the tale Archimedes and the bathtub discovery of water volume displacement equals floating object volume. Some idly rich mathematicians found that assets equals liabilities plus equities.

The official story is that accountancy was first systematically expounded by Luca Pacioli in the Renaissance, who in a section of a mathematical book he is generally thought to have written, describes the Venetian method, or double entry