Accounting

What are the skills of accountant? Basic Soft Skills for Accountants Strong written and oral communication. Organization and attention to detail. Analytical and problem solving skills. Time management. Systems analysis. Mathematical and deductive reasoning. Critical thinking. Active learning. Read more on www.aiuniv.edu Virtually all organizations, from tiny enterprises to major multinationals, depend on accountants. They … Read more

The terms “comptroller” and “controller” could be used interchangeably if you are unfamiliar with the world of finance and accounting. But there is a clear distinction between the two. A controller is a financial manager in charge of supervising the accounting division of an organization. They are in charge of keeping track of financial transactions, … Read more

What is a 52 53 week filer? A 52-53-week tax year is a fiscal tax year that varies from 52 to 53 weeks but does not have to end on the last day of a month. Read more on www.irs.gov A company with a fiscal year that doesn’t coincide with the calendar year is referred … Read more

Is sweat equity a capital contribution? Sweat equity-in the form of valuable services-is a time-honored way to contribute capital to an S corporation. But be sure all agree on its actual value. There are several ways S corporation shareholders can make capital contributions to their company. Read more on www.legalzoom.com The phrase “sweat equity” refers … Read more

Which statement is true of an invoice with terms 2 10? 2/10 net 30 means that if the amount due is paid within 10 days, the customer will enjoy a 2% discount. Otherwise, the amount is due in full within 30 days. Read more on corporatefinanceinstitute.com Any firm must issue invoices, and it is crucial … Read more

What is owner distribution in accounting? What is a Distribution to Owners? A distribution to owners is a payment of the retained earnings of a business to its owners. This distribution results in a reduction of the equity and assets of the business. The distribution is usually made in cash, though it can also be … Read more

What is account name? The name of a person authorized to have an account, verifiable using specific personal information. Read more on www.definitions.net Your account name is one of the most crucial factors to consider while managing your money. A bank account, credit card, or other financial account’s name is known as the account name. … Read more

How do you account for capital contribution? This is the price that shareholders paid for their stake in the company. Contributed capital is reported in the shareholder’s equity section of the balance sheet and usually split into two different accounts: common stock and additional paid-in capital account. Read more on www.investopedia.com An essential component of … Read more

What makes a great accountant? Good accountants are ethical, diplomatic and have well-developed people skills that enable them to develop trust and rapport with their clients. They’re able to use their integrity to foster collaborative and respectful environments, which helps clients make good business decisions. Read more on www.ewmaccountants.com.au In companies and organizations, accountants are … Read more

What is paid in capital Illinois? PAID-IN CAPITAL: Paid-in capital is the amount of money or other property paid to the corporation for, or on account of, the issued shares, less expenses incurred with the issuance of shares, plus any cash or other consideration contributed to the corporation. Read more on www.ilsos.gov The phrase “paid … Read more