Chalk And Cheese Forensic And Traditional Accounting

The most commonly known differences between Forensic and Traditional Accounting:

1. An obvious difference which one can see between a traditional auditor and a forensic accountant is that the former is someone who looks for math accuracy in the accounting department, while the latter looks behind all the financial numbers to catch fraud or embezzlement.
2. The second difference is investigative intuition. Intuition is the gut instinct which one has to channel to the right direction, especially about where your investigation should begin. This is not book-learned, but achieved through experience, and is very important in forensic accounting.
3. Traditional auditing is auditing others’ work to see if they have followed all the documented official policies and procedures of the company. It is based on evidence and not simply a matter of opinion or hunches.
4. Traditional auditing focuses on fault identification and its prevention. Prevention happens because of a good effective internal control system. The auditor sees the effectiveness of those internal control systems.
5. Traditional auditors make use of statistics to determine the probability and identification of material errors, while forensic accountants make use of physical evidence, testified evidence, documented evidence and demo evidence to help identify suspects.
6. In forensic accounting, any kind of evidence could be used as information, whether documentary or electronic, even computer video or audio. However, it needs an expert to interpret and present it. Demonstrative evidence is not real evidence, but just an aid to understanding the rest.
7. Forensic Accountants often serve as expert witnesses for a lawsuits or criminal cases in a court. They need to have applied and reliable principles and methods to prove any wrong-doing.
8. Forensic Accountants also need to possess skill and expertise in 2 fields: Private Investigation and Accounting. These are required to become a good forensic accountant. However, no such requirement in traditional accounting is needed.

Choosing An Expert Naperville Accounting Professional

Handling accounts of any company is never going to be a small task. Thus it is important that you hire a good Naperville accounting firm who can be helpful for you in many ways possible.

Checking accounts and maintaining it well is surely going to be a demanding and time consuming task for all the business owners. But then it at the same time will also help in knowing where you company actually stands when you finances are concerned. With this you will also know the right method and way by which you can easily plan many of the things ahead. In all such cases you will at times things that you can hire an accountant or a Naperville accounting firm for the same. But then in such cases you always have to be assured of their capabilities first. This means they should be well able to put with the responsibilities and complete all the accounting work assigned.

This is mainly because if they even happen to pass one incorrect entry in books of accounts then it will cause drastic errors in the further calculations. With this chances are high that you will face some serious troubles which could otherwise be avoided. Rather it is suggested that you do some good research and then hire a Naperville accounting firm who can easily handle all your accounts and thus help maintain them without making any type of errors. The major benefit of hiring some good Naperville accounting firm is that the staff is thoroughly professional and also expert in all of their work.

They will help maintain all the records of the profit and loss statement and will also help you have all of your accounts well set and clear. With this you will know the liquidity in the business and will also know how much return on the investment you can get. You will also know the finances available in your business which you further use for expansion or then for investments in the business. These Naperville accounting firms will also help you in drafting payrolls, handling of balance sheets; maintain the tax records and also filing taxes at times.

The time you start with your selection of this Naperville accounting firm you should remember to be very careful. This means that you should not retain those who do not have the right degrees because this will just not be worth at all. You will have no benefits when you do so in any which way possible. Rather it is suggested that you take a close look at too many aspects and only then pick on the one who is simply good and an expert too.

Myob Consultants To Offer Proficient Business Accounting

There was a time when a company was involved with almost every aspect or function must undertake to do business on a day to day basis. With increase in commerce and international trade managing every other function pertaining to the company was very much overwhelming and naturally led to firms specializing in those functions. Especially those functions where finance was involved and audited by external audit firms. For a country like Australia, where business has been steadily rising for the past couple of decades MYOB is one accounting firm that specializes in accounting practices and payroll solutions for firms of all models and industries.

Almost three decades old, MYOB or an acronym for Mind Your Own Business, has been in the business of providing accounting and payroll services to a multitude of clients across Australia and even internationally. To that effect and leveraging its vastly gained experience and expertise it has created a niche for itself in payroll processing promulgated by its very own MYOB consultants. The consultants offer services in the areas of bookkeeping, consulting and payroll processing. The consultants not only offer their services, but also engage in quality and result oriented training in accounting practices for their clientele’s staff to help them manage their accounting and financial work.

Getting paid on time is one really good feel factor for an employee and goes a long way in establishing the credibility and employee friendliness of any establishment. But when managing growing business this really crucial task can be tremendously overwhelming even for the highly skilled professionals with the added responsibility of auditing. One need not sweat so profusely on it as, MYOB offers out of the box payroll solutions to get this burden off one’s shoulder with ease. The solution offers almost everything needed to process the salary of an individual with complete transparency to the business and its employees. Adopting a simple scale up model also helps the businesses to get maximum benefits of the implemented solution and that too economically.

With trading attaining global proportions and even small businesses scaling up to international market through the Internet, accounting too has grown up to be quite complex after crossing international borders. To get the figures correct it is a must that knowledgeable and skilled professionals be employed for the job and MYOB consultants perform all the tasks in this context with finesse. Not stopping at just providing consultancy services they go a step further to impart training on out-of-the-box third party payroll and accounting software to in house staff of various businesses. With many countries opening their borders to ease global trading it makes for a sensible approach to get accounting experts on board and ensure the business maintain a healthy bottom line.

Tax Tips CPA Or Tax Attorney

When confronted with solving a tax problem, taxpayers have a number of choices including dealing with the issue themselves, hiring a CPA or retaining a tax attorney versed in the tax problem being addressed. Due to the intricacies and far reaching impact of income tax law, engaging a CPA or tax attorney may be advantageous to the taxpayer.

A CPA (certified public accountant) has completed the requisite university courses, passed examinations and met all other licensing and experience requirements to be certified by the state. CPAs are experts in accounting, auditing financial statements and the preparation of income tax returns for corporations, non profits and individuals. CPAs are also employed in industry, non profits or government as accountants, auditors, treasurers, chief financial officers (CFO) and other accounting, financial or executive positions. For example, the IRS hires an army of professional accountants and auditors.

The individual state boards grant the CPA designation and license. CPAs may also belong to the national association, the American Institute of Certified Public Accountants (AICPA). A CPA can also be a member of the state association. CPAs are mandated to fulfill continuing education requirements and follow the associations code of conduct.

An attorney is a professional licensed to provide legal advice, practice law or conduct lawsuits on behalf of clients. A tax attorney is a specialist attorney in assisting taxpayers to solve tax problems with the IRS or the state Franchise Tax Board. An attorney can also be called a lawyer or counselor. To be licensed as an attorney, one must have obtained a degree in professional law from an accredited law school and successfully completed a state bar examination.

While the Statement of Principles (National Conference of Lawyers and CPAs 1951) recognizes that nonlawyers may be admitted to practice before the United States Tax Court, it states that a CPA should advise a client who has received a notice of deficiency to consult an attorney, because the client should be advised of the possibility of litigating the matter through a refund suit in the district court of the Claims Court rather than before the Tax Court. When a CPA learns that a client is being investigated for possible criminal violations of the tax laws, he or she should promptly advise the client to seek the advice of a lawyer as to the clients legal, constitutional rights and the related privileges. An attorney can plead a taxpayers case in a court of law. In limited cases a CPA can make a presentation to the Court, however this is not a good idea especially if the accountant prepared the tax return in question.

The Attorney-client privilege is a legal concept that protects communications between an attorney and the client. The attorney is bound to keep these communications confidential. Any communication between a CPA and a client is not held confidential.

When a taxpayer is trying to solve a tax problem it is not a matter of either or. Taxpayers can consider their CPA as vital as their tax attorney and quite so. A taxpayer could utilize the services of both a tax attorney and a CPA to resolve a pressing IRS tax situation. The main difference is that a CPA cannot litigate in district court and a CPA does not have privileged communication with the client.

Simply one End Guide To Producing Accounting Software

Producing in basic expressions recommends switching of raw resources into utmost items, all set for marketing and advertising. Diverse processing approaches and equipments are utilized within this improvement. So, how will you manage each of these treatments?

Undoubtedly, you can simply take the help of the producing accounting software. Making Accounting Software application is produced that has a viewpoint to get the different money needs relevant to making. It is really teeming with numerous purposeful modules designated for various tasks. Accounts payable, accounts receivable, standard ledger and far additional would be the critical modules of the efficient manufacturing software application.

Regardless of what your company is, regardless of whether it’s considerable or modest, you will be certain to care for numerous of the important business troubles. Various of the fundamental problems of the small business associateded with manufacturing like constant optimization of stocks, processing and satisfying of consumer orders in a properly timed technique should be dealt with within an efficient method whilst securing a company grasp to the cash aspects of the organization. paraphrase online

And right here the good part of producing accounting software appears into image and permits you to definitely manage the issues of one’s company developed up. To identify producing software application, it can be a software application utilized from the administration and stock discipline. Administration and cost of any team has in fact not been genuinely easy.

A producing software enables you to definitely handle anything linked to producing rather simply. A producing software application may be very useful in getting into numerous programs digitally and analyzing their technique on a routine basis.

Manufacturing software is remarkable from the feeling that it might comfortably hyperlink the products need along with the output capacity of the company. Functions this kind of as profits forecasting, call administration, assessment and alike help in the effective administration from the team.

There are numerous producing accounting software application which you’ll discover practical to the unique marketplace. A lot of the producing software application approaches have actually made manufacturing- unique options for various product traces.

A single this sort of remarkable manufacturing accounting software application is produced by Sage software application to satisfy the one of a kind accounting needs on the carriers. The title on the software application is Peach-tree High quality Accounting for Manufacturing.

The software application supports main accounting features and reporting options. It can assist you in keeping track of:.

a) Accounts Receivable. b) Time, Billing and Line of work Costing. c) Fundamental Ledger. d) Stock. e) Accounts Payable. f) Payroll Remedies. g) Set Belongings.

Peach-tree Premium Accounting software application as an outcome causes it to be achievable so that you can conquer the problems of working an economically meeting manufacturing venture. It provides you a strong however practical device, made particularly to assist you please up with difficulties within your producing functions. This software is thought for its audio stock and assembly administration qualities. Each of these make this software application, the choice of numerous modest workplaces. I highly suggest you this software application for a minimum of at the time in the company. And I’m positive that you’ll be addicted. paraphrase online

Undoubtedly, you may just take the aid of the producing accounting software application. And right below the good part of producing accounting software reveals up into image and enables you to definitely take care of the problems of one’s company established up. To figure out producing software, it can be a software application utilized from the administration and stock discipline. There are various producing accounting software application which you’ll expose beneficial to the special marketplace. A single this kind of impressive manufacturing accounting software application is produced by Sage software to satisfy the one of a kind accounting desires on the suppliers.

Making Accounting Software application is produced that has a standpoint to get the numerous money requires relevant to making. And right below the good part of producing accounting software application shows up into image and permits you to certainly take care of the problems of one’s company established up. To figure out producing software application, it can be a software application utilized from the administration and stock discipline. To figure out producing software, it can be a software made use of from the administration and stock discipline. A single this kind of impressive production accounting software application is produced by Sage software application to fulfill the one of a kind accounting wants on the providers.

Benefits Of Church Accounting Software

One Account, but multiple funds? Lets learn moreTreasurers or church business administrators may think that the best way to handle funds is to open a separate checking account for each fund. When dealing with church accounting, this is not always the best way to go about things. This approach multiplies paperwork and makes determination of a balance sheet extremely difficult. All funds money can be put into one pool as long as the church accounting system clearly documents net assets and liabilities in each fund separate from operative cash flow.

The primary difference between fund accounting and non-fund accounting software is that fund accounting software balances income/expense transactions within multiple funds while maintaining the overall balance sheet. This is needed for functional church accounting. Business accounting programs have one equity line, while fund accounting requires multiple net asset accounts, one for each fund. Fund accounting software is essential for the church or ministry that has restricted gifts.

Data base management is made easier with church accounting software. It is necessary for a church to organize and account for different types of donations. Some donations are to be used for only what the person giving them has designated If the church is using an excel spreadsheet for example; they will not be able to see their budgets, and each individual fund in an organized manner. If a church is not using actual true fund accounting church software they could end up with inaccurate totals. The good news is that there are a lot of church accounting software packages that have proven to be immense help for churches to cope with such problems. The software is user friendly and is equipped with the latest features that could enable churches to manage their financial data and prepare financial reports.

There are wide varieties of church accounting software packages that you can use depending upon the needs of your church. Different churches have different methods of organizing things. Therefore, it is better to make a list of your priorities before purchasing the software. These church accounting software packages are used in churches of all sizes: Large, medium and small, including churches with many congregations. The accounting software for churches is designed and developed to cater to managing the churches fund accounting such as journalizing expenses and revenue received from different sources.

Accountants in the church use the software to organize income and expense of the church. Most of the software comes with unique features such as restricting access of potential threats to confidential information of the church. The software features a built-in security that can only be accessed and changed with a password. Therefore, it minimizes the chance of tampering with confidential information.

In conclusion, church accounting software helps the church accountant, treasurer or whoever does the church accounting and the people who donate their money to the church. The software helps the church organize information and updates people concerned with donating money to church.

Bookkeeping Performs An Extremely Important Role In Every Business

In now’s up to date home business epoch, bookkeeping performs an exceedingly extremely important purpose to work a home based business lucratively. The triumph associated with a business venture varies according to correct bookkeeping largely. A proprietor as well as who owns the provider contact within the recent costing, sales and profits return, prices, amount of money overdue, productiveness together with other a number of parameters via the correct bookkeeping .These types of necessary issues to prevent yourself from pressure on margins and muddle via the switching cutthroat environment.

Regrettably, some businesses give considerably less precedence on bookkeeping to evade overheads. Like businesspersons are infelicitous. Make perfectly sure that apposite bookkeeping pays inside the quick also in duration. Previously the bookkeeping was in the past not suitable due to which countless worthwhile business ventures endured .Flawed bookkeeping contributes to enormous backlogs, which leads to distortion within the home business. Also a money-spinning business ventures may perhaps be skewed in absence of accurate bookkeeping.

Placing increased even more, we’ve been purported to be aware that its compulsory regarding diminutive corporate homes to post periodically ready results to characterize valid photo of feat, so stockholders could take well-versed judgments. Due to this fact, we conclude that your inevitability of bookkeeping services is honest as well as obligation for all sorts of businesses to work fruitfully. It’s fundamental to purchase a reliable person to take up this arduous profession of maintaining your publications towards your contentment.

There’s two main different kinds of bookkeeping products and services obtainable for minor home business. You’re the bookkeeping by professionals who function individually themselves. During the 2nd, choice the good qualities function as a crew. Whilst variety, make sure you are aware of the detriment and features about the two main variations. Independently operating experts are first-class in the sense them to assembled own affinity on you, know everyone necessity more effective, and tend to be in a position to leave the overwhelmed method to persuade you. Yet, truly the only hitch in such a device is that your gurus suffer the pain of time restraint or even just may perhaps be engaged now and then thanks to illness, abscond and also other purposes. So whereas appointing specific experienced, explore almost all these qualms obviously.

When compared, professionals who function in teams enjoy the benefit to be available on regular basis, however could possibly allocate several persons at several days to fund their other routine, leaves and so on. Yet, you may possibly not be comfy along with the recruits deputed once in a while. Also all sorts of personnel growing your bookkeeping, home business beneath wraps leaks are really a probable and that you will not get bespoke concentration.
One other facet necessities youre thought. As well as best to choose a localized personnel than only a experienced based somewhere else. Your local can get to you swiftly while not justification. Whilst interview, it’s advisable to go into the aspirants aptitude and practical knowledge. Finally, most of the anticipations, remunerations, and compensations ought to be talked about whilst interview.

E-Accounting Problems & Propects

E-Accounting: Problems and Prospects

Shraddha Verma Assistant Professor G.C.R.G Memorial Trust Group of Institutions Lucknow

Abstract

E-Accounting refers to Electronic Accounting, a term used to describe an accounting system that relies on computer technology for capturing and processing financial data in organizations. The manual accounting systems consisted of paper ledgers, typewriters and calculators. Typewriters were used to type invoices and cheques, and all calculations were performed using calculators. Now E-Accounting or Online Accounting is new development in field of accounting which can save the cost associated in accounting, it minimizes the paper work, Thus, source documents and accounting records exist in digital form instead of on paper in an electronic accounting system. with the help of various management applications like ERP,CRM ,project management e-accounting can be done. In E-Accounting the accountant and employer both feel satisfaction because , this is cheap and without software defaults or failure . Your accounts saves in online server or database , so there is no need to record manually, it does not require any software installation. A survey will be conducted among accounting agencies in order to provide evidence for the hypotheses. E-accounting problems & prospects research paper able to find out some of the basic problems, and prospects in e-accounting in the field of accounting and the research is exploratory in nature. This paper is based on a limited initial review of the literature and provides a brief summary of the theoretical part of the study. It should be regarded as a research proposal of an ongoing research project and as such it may develop and change in the process.

keywords: E-Accounting,Accounts payable, Book-keeping, accouts receiveables.

Introduction

E-Accounting is new development in field of accounting. It means all your transactions will record in online server or data base. E-accounting involves performing regular accounting functions, accounting research and the accounting training and education through various computer based /internet based accounting tools such as: digital tool kits, various internet resources, international web-based materials, institute and company databases which are internet based, web links, internet based accounting software and electronic financial spreadsheet tools to provide efficient decision making. The terms E-Accounting and financial information system are used to refer to any accounting system that depends on Information and Communication Technology (ICT) for performing its information system functions. An E-accounting system could be thought of as an inter-organisational system because of its capability to electronically integrate a set of firms. In many operational applications the accounting entries can be generated as a by-product of the underlying transactions. A computerized accounting system is able to handle financial data efficiently, but the true value of an accounting system was that it was able to generate immediate reports regarding the company.

E-accounting involves performing regular accounting functions, accounting research and the accounting training and education through various computer based /internet based accounting tools such as digital tool kits, various internet resources, international web-based materials, institute and company databases which are internet based, web links, internet based accounting software and electronic financial spreadsheet tools to provide efficient decision making. Online accounting through a web application is typically based on a simple monthly charge and zero-administration approach to help businesses concentrate on core activities and avoid the hidden costs associated with traditional accounting software such as installation, upgrades, exchanging data files, backup and disaster recovery. E-accounting does not have a standard definition but merely refers to the changes in accounting due to computing and networking technologies Uses Accounts payable- is a file or account sub-ledger that records amounts that a person or company owes to suppliers, but has not paid yet (a form of debt), sometimes referred as trade payables. When an invoice is received, it is added to the file, and then removed when it is paid. Thus, the A/P is a form of credit that suppliers offer to their customers by allowing them to pay for a product or service after it has already been received. Accounts receivable- also known as Debtors, is money owed to a business by its clients (customers) and shown on its Balance Sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the customer has ordered. Bookkeeping- On a company’s balance sheet, accounts receivable is the money owed to that company by entities outside of the company. The receivables owed by the company’s customers are called trade receivables. Account receivables are classified as current assets assuming that they are due within one year. To record a journal entry for a sale on account, one must debit a receivable and credit a revenue account. When the customer pays off their accounts, one debits cash and credits the receivable in the journal entry. The ending balance on the trial balance sheet for accounts receivable is usually a debit. Business organizations which have become too large to perform such tasks by hand (or small ones that could but prefer not to do them by hand) will generally use accounting software on a computer to perform this task. Online Bookkeeping Process Understanding The Need V Pilot Project V Client Satisfaction V Agreements V Necessary Training V Actual Outsourcing V Implementation V Quality Check V Final Output

PRONTO-Xi Financials is a complete financial management software tool that allows you to automate many of your financial processes, establish greater security around those processes, manage cash flow better and gain enhanced insights into your operations. The functionality can be scaled up or down to suit your individual business needs making it suitable for businesses of any size. Integrate your financial management tasks to drive efficiency throughout your operations Focus on the data output rather than collecting the data in the first place Make better business decisions with accurate data captured and delivered to you in a timely fashion via robust business processes Complete set of financial tools including General Ledger, Accounts Payable, Accounts Receivable, Fixed Assets and Payroll

key functionality & benefits

Period End close – produce accurate quarterly and annual financial statements for individual business units or your entire business that comply with regulatory, organisational and stakeholder requirements. Corporate Risk and Governance Compliance – develop structures and business processes to comply with organisational and recognised compliance standards. Integrate your financial supply chain – strengthen every aspect of your financial supply chain with integrated, robust processes, including establishing electronic purchase request and authorisation limits. Streamline payments and invoices – improve your Accounts Payable and Accounts Receivable management and drive payment efficiencies. Multi-company consolidations – consolidate any number of companies quickly and easily. Cash flow management – track, identify and manage your cash flow, liquidity and your exposed financial risk quickly and easily via integrated, automated processes. Monitor financial performance – report on key financial metrics and develop an accurate understanding of your true financial position at any point in time.

Company’s all accounting project can easily outsourced by E-Accounting system:

A.P.O. A.P.O means accounting process outsourced APO is the new and developed form of BPO according to research report APO is growing very fast. This industry has jumped 60% annual growing rate. This industry has reached up to 60 cr. Of Rs.

Pay pal Payment system is popularizing in Online Accounting Some of Indian professional accountant gives the accounting services to USA customers under A.P.O. Now they can easily get their service amount from paypal way . Paypal gives you the facility of withdrawing your service fee with following ways:

a) If you want to deposit your service amount in your bank account in India for more than RS. 7000 you can easily transfer without any cost of transferring , if upto RS. 6999.99 you want to transfer in your account you will charge Rs. 50 b) You can get the cheque by giving request in the website under your paypal account c) You can also withdraw funds to your card also.

Willis and ACE Achieve e-Accounting First in London Insurance Market The London-based operations of ACE, a leading insurance company, and Willis Limited, the UK insurance broker, announced the successful launch of a full electronic accounting process between the two companies -a London Market Group (LMG) Non Bureau project first. E-Accounting is a data-based process for facilitating financial agreement and subsequent settlement of premiums and claims with insurance carriers, and replaces paper in the accounting and settlement process. E-Accounting substantially improves the quality, integrity and certainty of process, allowing Willis and carriers to synchronise their operations and improve client service. Implementation benefits include: prompt advice of premium and claims due, enabling simpler reconciliation improved settlement cycle resulting in speedier premium and claim settlement the secure exchange of critical closing and settlement information reduction in queries and early query resolution Graham Card, Executive Director and Business Lead for Willis’ e-Accounting roll-out, said: -London Market modernisation has long advocated the elimination of paper from the process and the introduction of electronic accounting. This is a major reform that will show benefits for both parties in the future.- -ACE are continually looking at ways to improve service to clients, making payment of premium easier and payment of claims faster. e-Accounting and closer collaboration with our clients will enable ACE to achieve this. -This project with Willis has been a great success with a real sense of partnership, and ACE is looking forward to working with Willis to expand the use of e-Accounting capabilities further with our clients and the wider market through the LMG sponsored Non Bureau project.- Willis and XL Implement e-Accounting London, UK, September 26, 2011 -The London-based operations of XL Group plc, a leading global insurer, and Willis Limited, the principal UK broking company of global insurance broker Willis Group Holdings plc (NYSE:WSH), announced the successful launch of a full electronic accounting process between the two companies. Through better synchronisation between brokers and carriers, the online system markedly improves client service by enhancing the quality, transparency and integrity of the accounting and settlement process. Willis Group Holdings plc (NYSE:WSH), announced the successful launch of a full electronic accounting process between the two companies. Through better synchronisation between brokers and carriers, the online system markedly improves client service by enhancing the quality, transparency and integrity of the accounting and settlement process.

However, with the introduction of PC-based Accounting Systems, both the computer hardware and the accounting software have become cheaper, creating an opportunity for organisation to adopt e-accounting. Nevertheless, there are several factors that determine whether an organization adopts e-accounting or not. Studying the factors that influence computer adoption, internet adoption and accounting software adoption

Relationships between company size and Internet Adoption

Company size Internet (No of employees) connected 50-99 41 % 10-49 30 % 1-9 16 % Objective

The objective of this research is first to describe the present state of the art of e-accounting in organisation bookkeeping agencies in U.P region(mainly lucknow) as well as identify managers’ intentions towards adoption of e-accounting ;what are the problems they are facing with the adoption of E-Accounting and the future prospects of E-Accounting system second to empirically study factors that influence the adoption of e-accounting, and third to study the problems that e-accounting may have in general and more specifically on the accounting procedures and practice in small and organisations bookkeeping agencies that have adopted an e-accounting system.

Research Methodology

The data for this research was collected by means of a questionnaire. Questions are both open ended and closed ended. The study was, for practical reasons, the research is done in the UP region (mainly lucknow) . Besides, demographic data including gender, age, position in organization, accounting background, professional qualification, experience in current system, level of understanding and knowledge related to the system, were measured by different scales. Finally a data of total of 90 persons were collected generating a positive response rate of approximately 35%. I have identified 12 questions that most effectively measure the no. of persons acquiring e-accounting in their organisation:

Q1. What kind of firm do you have?

Q2. How many no. of accounting staff do you have?

Q3. Does your firm use computers in operations?

Q4. Does your firm make use of accounting software in operations?

Q5. What kind of accounting software’s are used?

Q6. What are the aim of implementing E-Accounting?

Q7. What problems are faced by the firm while implementing E-Accounting?

Q8. What ways do you suggest for improving the system for easily access to E-Accounting?

On the basis of the data collected from both medium & small firms we found that only 35% of the firm out of hundred is successful in implementing E-Accounting. The firms like ACE & Willis a leading insurance company, and Willis Limited, the UK insurance broker, announced the successful launch of a full electronic accounting process and for the positive respondents the goal of implementing e-accounting are timely information management, large storage capacity, reduction of clerical work, cost effectiveness. Whereas for the left percentage 38.8% face problems like lack of constant supply of electricity, frequent breakdown of the system, inability to import/export data, inability of the system to support large volume of data or all of the former problems in implementing E-Accounting.

Findings and Suggestions

To further investigate the actual benefits of e-accounting, empirical studies of some ten small and medium-sized accounting agencies will be undertaken. These companies will be selected among the adopters group and chosen with the help of reference lists from software application providers and from information gathered in previous studies. The main data collection method will be face-to-face, structured interviews with managers of these organisations or, when necessary, telephone interviews. All interviews are planned to be tape recorded. The firms are facing problems in — Data security – All your data resides on a remote server: however, a back up can be taken regularly. Speed – Most of the currently available online office suites require a high broadband Internet connection. Lack some features available on the offline office suites: but this is progressively becoming available (MS LIVE, Google online-Suite, Think free, Zoho Office, Internet Office .Biz and e-Desk Online) A network connection (usually Internet access) is required to send and receive changes. That is, internet dependence makes it more difficult to work offline and also most of the firms don’t want to invest in purchasing accounting software. The results also indicate that interpersonal communication channels, such as training sessions and consulting, are considered as the most useful ways to achieve knowledge of new e-accounting innovations. Internet is also considered as a useful means of providing information. The use of accounting software makes the task easier and also saves the valuable time.

Conclusion

The study provides strong evidence that the use of E-Accounting has contributed to the effectiveness of tasks as expected. The study shows that the use of E-Accounting may improve the effectiveness of accounting and reporting tasks, budgeting, controlling and auditing which may reflect on the organizational effectiveness as well. An improved quality in the system may provide better support for the tasks performed by the system. This study finds that the most significant impacts of E-Accounting are on accounting and reporting and budgeting task performance respectively.Future studies could place more focus on the inter-organizational factors affecting the adoption rate. Moreover, future research could focus on the attitudes and resources of the business partners of accounting agencies. The contribution of this study will be twofold. First, the contribution of this study lies in the empirical analysis of the determinants of e-accounting adoption. The results of the study may give some evidence on the managers’ intentions of small and medium-sized accounting agencies towards e-accounting and thus predict future use of e-accounting systems. Second, this study aims at providing some understandings of the actual benefits of the use of e-accounting systems.

References

OECD, 1998. SMEs and Electronic Commerce. Working Party on SMEs to the OECD Ministerial Conference on Electronic Commerce. October 1998, Ottawa. http://www.oecd.org/dsti/sti/it/ec/prod/sme18e.pdf (October 7, 1999).

Amidu, M. and Abor, J. (2005), Accounting Information and Management of SMEs in Ghana, The African Journal of Finance and Management, 14(1), pp. 15 – 23.

Doost, R. K, (1999), Computers and Accounting: Where Do We go from Here? Managerial Auditing Journal, 14(9), pp. 487 – 488.

Accounting Act (AA, Kirjanpitolaki ) 1336/30.12.1997

Hall, J. (2007). Accounting information systems. Quebec, Canada: Thomson Higher Education.

http://www.experiment-resources.com/empirical-research.html#ixzz1d0dAXLDg

www.acegroup.com/uk

http://www.experiment-resources.com/research-paper-outline.html#ixzz1cjx5E1mq

Small Business Accounting

Understanding the Value of Small Business Budgeting Abstract Take the intimidation away from small business budgeting and learn how these simple exercises will benefit many facets of your business. Plan for the future, make more money and control that profit better with budgets. A better, more profitable business is the result. Article Body Although it may seem like a lot of work, budgeting is an essential process for your business. It will help you to plan for the future – this year and over the next decade.

Budgeting will assist you in decision making, goal setting and many other types of planning. It also helps to control the actions of your business. Planning and control work together, but are not actually the same thing. To plan in a business involves laying out the direction and goals. Control comes when you’re in the process of working towards those goals.

If the plan is to purchase a large asset in five years with cash reserves, the control comes into the picture when decisions are made that ensure you have enough cash when that time actually rolls around. Small business budgeting is the tool to help you plan well and exercise control. And it’s the key to your business’s financial success. Budgeting can be done in simple, straightforward methods now using computers, spreadsheets and even specialized software. You can create a master budget easily by starting with your long-term sales forecasts. Once you have a realistic idea of future sales you can plug those numbers into a Sales Budget, which also helps with a Purchasing Budget and an Ending Inventory Budget. Inventory can be a tricky thing within every business and the information gathered in these budgets is extremely helpful.

The Sales Budget also helps to create a Budgeted Income Statement. This particular accounting financial statement is helpful for potential investors to assess the likely profitability over the next few years. Long-term sales forecasts are also the first step in creating an Operating Expenses Budget and a Capital Budget. These figures help with day to day business as well as working to ensure a healthy future. When you can budget for capital expenditures based on sales forecasts and then maintain control on the way there, your business will thrive.

The Cash Budget is often the most useful for small business owners. Knowing how much cash you are likely to have at the end of a period is important and planning to keep a -safe amount- on hand for debt repayment or other things is simpler with a cash budget. Using the Sales Budget, the Operating Expenses and the Capitol Budgets, combined with past habits and events, you can create a reasonable Budgeted Income Statement and Balance Sheet. Those are used to bring about the Budget of Cash Flows, an essential tool for small business. Find out what you can realistically afford in the future and keep a handle on your company.

Remember that budgets are a continual exercise and will be updated frequently as new information arises. Small business budgeting is a flex thing and will need regular attention. Participation within the company is important. Involving managers in the planning stages will give them ownership of the goals and help them feel more connected with the end result.

Your business will benefit when more people work together on the budget.

ACCA Nigeria Serving Many Industry-Oriented Accounting Courses Worldwide

Most people, who are basically from the accountancy background, have heard about Association of Chartered Certified Accountants (ACCA), which dedicatedly strives to offer quality education to accounting aspirants of all over the world. Quite obviously, the ACCA global body through its many centers located at more than 170 countries is primarily concerned with helping those who want to get trained in the accountancy profession. As a result, working for around for over 100 years, this global body has now set new benchmarks in offering world-class accountancy training courses to the employers of accountants worldwide. Like its other offices or centers, the Nigeria center of the Association of Certified Chartered Accountants has also earned the great attention of accounting aspirants. Hence, these days, the ACCA Nigeria center is also busy in serving a lethora of industry-oriented accounting courses to people of Nigeria.

The ACCA diploma or degree holders are now serving different industry verticals. In general, the accounting professionals opt to learn any ACCA course to have a deep and precise knowledge on the accounting profession. This institute helps these people to get any diploma or degree course at very reasonable prices. For instance, it is up to you that whether you choose a scholarship program or ask from your employer to fund your education.,p> Apart from it, there are other options available to serve your urgent account education learning needs. For example, if you have low budget then choosing the self-studying option would be wise for you as it will save your thousands of bucks. To get free study material for any of such courses, you can sign up for ACCA membership. There are various online or offline book store that also provides you with the used books at rock bottom prices. You can easily get the relevant information on ACCA Nigeria center over the internet in order to get enrolled yourself in any of the desired ACCA courses.

About the Author

Chuck Hartman has a broad experience of writing on popular and advanced institutions which primarily deal in offering CIM (Marketing), ACCA (Accounting), CAM (Marketing Communications) and CTH (Tourism and Hotel Management) programs.To visit for, ACCA Nigeria