What types of accounts want closing? Why does GAAP require more than one financial statement?
Question:
Answers:
Nominal accounts need closing. These are income statement accounts (Revenue and expenses) that do not transport over to the subsequent period which requirements to be closed to a Real Account (i., Retained Earnings or Capital Accounts)
GAAP requires more than 1 (3) basic financial statements since the 3 financial statement have different information and objectives.
Balance Sheet - shows the financial position of the company (what the company owns, owes) as of the balance sheet date.
Income statements - shows the results of the operation (Revenue and expenses) for the period.
Cash flow statements - shows the sources and uses of change funds (Operating, Investing or Financing)
Has anyone see the SMC commericials on TV?
Question:
The company that is supposed to vend you items people want, for cheap wholesale prices. Then you turn around and put on the market them for a nice profit or whatever you surface necessary! My friend have been egging me to progress in on it beside him. I have a few dollars to throw away. I am wondering if anyone tried this system? Does it work? Could it own a real nice kismet to work? Thanks!
Answers:
Hi Kevin,
your best bet would be to check out:
http://www.usefulresources.info/wholesal...
They are not only top rate but also provide 100s of wholesale providers for every niche and category. The number 1 stop for wholesale supplies and dropshippers as well.
Hope that help! ;-)
Best wishes
Jenna
SMC is a solid and honest company.
The problem with the business are small
profit margins due to flea market saturation,
(go to any local flea market, SMC items are everywhere),
you must compete next to those prices, not the nice ones
you see in the SMC catalog! Drop shipping issues are
other a problem and not always the companies responsibility,
but they create problems with unsatisfied customers too.
I would recommend verbs to do your research.
I wish you the highly best!
SMC is NOT an honest company. Yes I used them for a while. I would talk to customer service, and they would collaborate me into buying a kit at a confident price, then turn around and over charge me for it. I telephone back to attain an answer, and they put me on hold and never answer my questions. Try to find a wholesale company to buy from, but not that requires a devotion like SMC. It be the worst mistake of my life!
Do the debit and credits on the income statement columns stability? Why or why not?
Question:
What is the difference between a classified and unclassified balance sheet?
Answers:
Debits and credits on an Income Statement do not Balance (unless you literally broke even). To the extent the credits exceed the debit, you have income. To the extent debit exceed the credit you incurred a loss for the period.
On the Balance sheet debit and credits balance.
Finance query?
Question:
Can anyone explain why do current assets provide liquidity to the firm while they are not necessarily very solution?
Answers:
Current assets are SUPPOSED to be able to be converted into change within the subsequent operating cycle, usually taken to be 12 mths. However, not everything within Current Assets is so solution. That's why analysts remove inventory from Current Assets when they calculate the spur-of-the-moment ratio. Here's an extract from a very adjectives site which I've quoted below.
Liquidity is the ability of a firm to come across its near-term obligations as they come due. Inadequate liquidity can spell doom, even for a company beside bright long-term prospects and significant noncash assets.
The current ratio is used to express the relative amount of working capital. It is calculated by dividing current assets by current liability:
Current Ratio = Current Assets/Current Liabilities
QUICK RATIO: A company could possess a large amount of inventory that is to say not easily sold. Thus, the current ratio (which includes inventory) could signal no problem, adjectives the while the company is struggling to pay its bills. A tougher ratio is the snatched ratio. This ratio provides a more stringent test of debt-paying resources by dividing only a firm's expeditious assets (cash, short-term investments, and accounts receivable) by current liabilities:
Quick Ratio = (Cash + Short-term Investments + Accounts Receivable)/Current Liabilities
In this casing, you are trying to bridge reality near accounting standards. Current assets are assets that could (and management possibly desires to) dispose of in the subsequent 12 months.
This means that nearby are things in at hand that fit the accounting standard, but are not truly liquid. For example, you can hold assets that are classified as "for sale", which would make them current assets, but own them be highly illiquid (e.g. art, collectors items, creative securities).
So "liquidity" and its associated ratios are not necessarily reflective of trueness.
What company can provide a apposite business plan at a likely cost?
Question:
For a Real Estate Estate Investment Fund
Answers:
I used to know someone who worked at a firm called Venture Architects surrounded by NYC. It is a reputable firm, but I don't know if they do REIT business plans, they used to focus mostly on start up and first round private equity financing plans.
www.venturearchitects.com
What can I do?
Question:
I work for a privately owned mortgage company and they pay us every 1st and 15th of the month, however this time I be supposed to be paid on monday due to the weekend and I still hold not received my check, when I asked the payroll dept about this they answered that they have run out of checks and had to demand more, but that they were one shipped from India and that they wouldnt arrive for 2-3 days, I have bills I hold to pay what can I do?
Answers:
hmm. who instructions checks from India? Sounds weird. Demand what is owed to you. They can discharge you with a cashiers check, you shouldn't own to even worry more or less that stuff. It really does sound fishy, I wouldn't work until I get my money.
start looking for a new post, this is a very impossible sign.
Meanwhile, tell them that you will be within really bad shape in need your money and can they transfer it from their mound to yours etc. They will say no, but it let them know that you are aware there are other ways to retribution people than adjectives a paper check.
This sounds similar to a typical delaying goings-on that companies who are on the brink of bankruptcy use. I'd be fairly direct and ask them if this is so, or why otherwise are they so disorganised as to allow themselves to run out of cheques. They obviously know how various on their payroll. I'd be very, fundamentally careful, don't tolerate them take dominance of you and continue working and man in a position when it could be lots weeks without foot.
sounds odd to me... can't they use brass? or money orders... ? something.
Most States require that you be compensated on time. Ask them to any go to the sandbank and get a banker check, or cash your check for you.
If you tolerate me know what state you are in, I will direct you to that states statute pertaining to this.
UPDATE FOR COLORADO
Title 8 article 4. See 103,110,113,114,121
http://www.coworkforce.com/lab/wageact.p...
Here is a link for a constraint letter from the state.
http://www.coworkforce.com/lab/combodema...
Hope this help! Let us know what happens.
That nouns like a flop!
They are fishy!!
Please look at my website for additional income from home
lwww.jointalkfusion.com/100141...
Explain how appropriatness and care of the codes used to determine third participant reimbursements?
Question:
Answers:
Like anything else there are glaring flaws. In some cases the codes are approximate and inappropriate. In most of these cases near is enough flexibility to overcome this. It is commonly updated too slow and sometimes too fast. It is going to be near us for a long time and I can't think of a better process to do it in this political climate. Almost adjectives the time it works very in good health. Do these general statements answer your common question?
Accounting/Finance?
Question:
Can anyone briefly explain of how can a firm be profitable but yet not hold sufficient cash to make happy its creditors? and also, how can a firm that turn a negative profit, own positive cash-flows?
Answers:
Cash Flow vs Income
It is important to file the distinction between being profitable and have positive cash flow transactions: a moment ago because a company is bringing in bread does not mean it is making a profit (and vice versa).
For example, right to be heard a manufacturing company is experiencing low product constraint and therefore decide to sell past its sell-by date half its factory equipment at liquidation prices. It will receive dosh from the buyer for the used equipment, but the manufacturing company is patently losing money on the sale: it would prefer to use the equipment to make products and earn an operating profit. But since it cannot, the next best choice is to sell rotten the equipment at prices much lower than the company paid for it. In the year that it sold the equipment, the company would winding up up with a strong positive lolly flow, but its current and future proceeds potential would be fairly bleak. Because dosh flow can be positive while profitability is negative, investors should analyze income statements as economically as cash flow statements, not a moment ago one or the other.
Because public companies tend to use accrual accounting, the income statements they release each quarter may not necessarily parallel changes contained by their cash positions. For example, if a company lands a through contract, this contract would be recognized as revenue (and as a result income), but the company may not yet in actual fact receive the cash from the contract until a subsequently date. While the company may be earning a profit within the eyes of accountants (and paying income taxes on it), the company may, during the quarter, actually finish off up with smaller number cash than when it started the quarter. Even profitable companies can go amiss to adequately govern their cash flow, which is why the brass flow statement is important: it help investors see if a company is having trouble next to cash.
Cash Flow Verses Profit
Profit and Cash flow are two entirely different concepts, respectively with entirely different results. The concept of profit is somewhat broad and solely looks at income and expenses over a certain extent of time, say a fiscal quarter. Profit is a adjectives figure for calculating your taxes and reporting to the IRS.
Cash flow, instead, is a more dynamic tool focusing on the day-to-day operations of a business owner. It is concerned near the movement of money in and out of a business. But more importantly, it is concerned beside the times at which the movement of the money takes place.
Theoretically even profitable companies can run bankrupt. It would bear a lot of negligence and total disregard for dosh flow, but it is possible. Consider how the difference between profit and cash flow relate to your business. For example, if your retail business bought a $1000 item and turned around to provide it for $2000, then you enjoy made a $1000 profit. But what if the buyer of the item is slow to pay his or her bill, and six months slip away before you collect on the depiction? Your retail business may still show a profit, but what about the bills it have to pay during that six-month spell? You may not have the dosh to pay the bills despite the profits you earn on the sale. Furthermore this change flow gap may raison d`¨ştre you to miss other profit opportunities, spoil your credit rating, and force you to take out loans and create debt. If this mistake is repeated satisfactory times you may even go cleaned out!
The sites quoted below should be of more help to you.
Profit is determined on the accrual starting place - you can have revenue even so not have received the currency yet. I worked for a company once that have plenty of profit on paper, however all of of customers be dot-coms that couldn't pay their bills. So that company go out of business.
A firm with refusal profit could have positive brass flow if they have alot of non-cash expenses (such as amortization or depreciation).
You are discussion about two firms one remaining fully invested and the other hoarding dosh. The former one is very scientifically run and have profits but no cash hoarding and the latter is hoarding brass and remain less than fully invested due to want of managerial initiative or withdrawal of opportunities within the industry class.
The second type is usually takeover target.
The Rule!?
Question:
What is the rule of 72?
Answers:
I'm assuming your referring to 72T which is a rule where you can rob substantially equal payments from a tax-deferred retirement account, largely IRA or 401k.
Basically you can take out the money up to that time normal retirement age minus paying penalty however this is something that should be importantly researched and talked something like with a Tax Advisor or Financial Planner.
Basically base on current rates the IRS decides how much will come out, and you hold to take this amount out of your plan every year for the greater of turning 59 1/2 or 5 years. Which plainly can be a very long time. You are unacceptable to take out any added money if you do you will end up paying the cost on all the money. Also depending on your income situation which can drastically cash you can throw yourself into a very illustrious tax bracket, oh and by the instrument if you don't need the money anymore, tough break you can't stop it until the time frame is over.
Accounting assist #2!! gratefulness for the assistance!!?
Question:
1)Morgan Co purchased supplies inventory for $2000. Due to an error in posting, the inventory vindication was debit for only $200 when accounts payable be credited for $2000. During which phase of the accounting cycle would this error be discovered?
a)recording the transaction in the account, b)prep of the financial statements, c)prep of the trial balance, d)analysis of respectively transaction, e)never
2)Which of the following is a correct statement about the unadjusted trial set off?
a)provides a listing of the set off sheet accounts only, b)provides notes in a convenient form for preparing the adjust entries/financial statments, c)provides a check of the equality of the debits and credits of the ledger accounts after the external transactions enjoy been journalized/posted, d)both B and C, e)all of the above
3)Which of these accounts would usually have a debit symmetry?
a)prepaid expenses, b)unearned expenses, c)wages payable, d)retained earnings
Answers:
1) I'll own to assume you're keeping the accounts manually, so the answer is (c) preparation of the trial balance wld throw out the difference. If you're using a/cg software, you lone key within the amt once and it'd get posted to the a/c codes key in, so the a/cs wld other balance if you use software.
2) The TB is extracted from the full of the GL, i.e. including all go together sheet and P/L items, so (a) and (e) are definitely out. (d) wld be correct
3) (a) prepaid expenses wld other have a debit symmetry. If you're talking of a loss-making co. the retained yield a/c can be an accumulated losses a/c and so have a debit go together, but for purposes of this question, I guess you're to assume that a regular co. wld be profitable.
I would say for Q1, the answer would be a) when the transaction be recorded, as it would not match and most software programs will not let you post a review that does not balance, and the total point of double entry system to make sure it adjectives balances.
Q2, not sure, but I would speak d) - both b & c points.
Q3, a) prepaid expenses - is an asset to the company so would be a debit balance - wages payable & retained yield have credit balance - can't say that i've in actual fact heard of unearned expenses.
Hope that help a little.
How does one multiply an member of staff retention rate as a percentage?
Question:
Answers:
total # of employees = x
# of human resources quit/fired = y
total # - # quit/fired = z
(x-y)=z
(z/x)*100=retention %
for example:
100 employees total
25 quit/fired
(100-25)=75
(75/100)*100=75
75% retention
20 organization total
15 employees quit/fired
(20-15)=5
(5/20)*100=25
25% retention
here's my answer 18OO-get a time
Does anyone know of a transcription place where on earth I can work from home? resembling www.speak-write.com?
Question:
Answers:
Have you tried looking in your local and regional washed out pages?
I would also try doing a G00GLE prod for Transcription Services
I have a detail of companies that use the services of home based transcribers (independent contractors).
How much is the stipend for summer morning military camp counslers?
Question:
how much money do the day military camp counslers get a week if the military camp starts at 9 am and ends at 4 pm and the camp is playscapes if that help.
Answers:
Well, it's not salary, it's hourly.
If you've never counselored until that time, you'll probably get between 7-8 bucks an hour. If you procure some experience, it goes up towards 9.00.
Definition - The Warm Market & MLM. Herbalife.?
Question:
Good day. I would close to the definition of "the warm market" and secondly, what are the pros and cons of MLM? I am planning to unify herbalife as a distributor in the adjectives so before i draw from into any trouble, i would like to do my homework. Can anyone administer me insight as a business person or a herbalife distributor or both? Thanks.
Answers:
Traditional meet people marketing has this motto: "The money is within the warm-market". Typically when you start out they ask you to list 100-500 name of people you already know. These are friends, ethnic group, and co-workers. They refer to this as the Warm Market.
Pros of MLM is that it's one of the very few ways that the average character can make like mad of money.
Cons of MLM is that it's not easy if you don't know what you're doing. Most relatives run out of steam or run out of people to tal kto right at the start and achieve impatient that they dont make money for several months.
It's a matter of personal evaluation, but I believe traditional network marketing is surrounded by the stone-age. We have a great deal of technology available to us that would make your duration easier. If you're smart to see what building your Herbalife business online can do for you, you will be earning money almost right stale the bat.
I have a party bit of experience with framework marketing and run an email http://www.ozibillionaire.com?training... course to help family make that transition from traditional to modern.
May I suggest you read this article which go into a bit of detail on pros and cons, and things to consider before making the choice to turn ahead in MLM.
http://ezinearticles.com/?success-in-usa...
I hope this help.
Jim Yaghi
your warm open market are friends and family member. the cold market are individuals you call or they bid you. I did herbalife a few years ago but was unsuccessful. I didn't hold the money to run the business. Anyway to be successful you have to do $4000 worth of business surrounded by one month (or $2500 in two consecutive months) to be qualified to be a supervisor (this is supposed to come from sale but you can also buy the supervisor kit) They say the money comes deeply from sales but really you hold to recruit lots of ancestors under you. Most population I tried to sell to said it be too expensive and would rather own a slimfast shake. Once the company got rid of ephedra, the green camel pills weren't as effective.
There enjoy been relations successful in the business but they must enjoy had a pretty well-mannered nestegg before appendage. Before starting any home based business, do a uncomplicated search near their name and the word scam or review to see what others hold said and to see the difficulty of the job.
Hi, is Herbalife going to cost you money? If so you should probably stay away from it. You never know if you will know how to earn your investment back! If you are interested within working from home you may want to check this site out, its 100% free, so you will have no investment to loose! Good luck! http://www.mypowermall.com/biz/home/1215...
For me, I would a bit not engage on any of the mentioned.
I would prefer internet business as it will allow me to work anytime and anywhere. With current technology, the process could also be made automated. With a proper system setup and correct pattern marketing strategies, you could easily earn some cowed incomes.
Find out more from the link contained by my profile page. It will tell you how to setup a successful online business step by step regardless of your experience and framework. It will also tell you what are the justification behind respectively step, how you could go almost doing it and where you could take the necessary resources free or at a low price.
Hope that it will be dutiful to you.
The warm souk refers to people that know you - your friends, your relatives and your colleagues. These are the culture that you should tap on for your MLM business.
As for the definition of MLM, resourcefully, if you have ever Robert Kiyosaki's "Rich Dad, Poor Dad", it say that network marketing or MLM businesses are the best source of residual income. In other words, you draw from paid even if you are broken. In other words, the power of leveraging is illustrated strongly within MLM businesses.
With the widespread of the internet, MLM have moved on to a more powerful platform. There are more than 1 billion subscribers to the internet in the world today. So, online MLM companies are on a roll very soon.
The program that earns the best review so far happen to be
=> http://www.thenpn.wealthtreasure.com...
The compensation plan system is great and the subscription is truly reasonable. In reality, the subscription fee is purely "a drop in the ocean" as compared to the amount that you would earn within return. The returns are many times fold!.
=> http://www.thenpn.wealthtreasure.com...
In certainty, the online business is fast purchase a reputation for one of the top MLM program on the internet. Therefore, what are you waiting for?
Hope you will achieve your financial goal soon.
A bit of advice is to listen to relations who actually are involved and hold been exposed to Herbalife. I've read numerous stories give or take a few how it's a "pyramid scheme" and how people be forced to put in thousands of dollars and consequently lose it adjectives. But, in my own experience, I strongly believe that these family were unsuccessfully because they believed it be a "get rich scheme" and spoilt after not getting results fast plenty. If you haven’t noticed, be a business and in decree for a business to grow, one must provide a product or service to its market. The course we distribute our products is through the MLM structure, as our founder believed it will be the most effective means of access in shifting people’s nutritional habits, as resourcefully as allowing people to becoming rich at impossible to tell apart time. And for someone who was a ninth level drop out, look what he built.
The fact is that, Herbalife is the number one bulk loss and nutrition company in the world, and the second largest MLM company within the industry. We’re backed up by a medical and medical advisory board, which includes a Nobel Prize winner and one of seven doctors who get unlimited funding by the U.S government for his research. Our current CEO, Michael Johnson, be the president of WALT Disney International and voted the number one CEO by Market Watch in 2005. And by August, every single character in the world is going to know what Herbalife is, as David Beck em is going to hold our company logo, dead centre on his chest. And for every person who say’s that the wellness industry is “saturated”. That’s bullshit, swot up your facts. The wellness industry is one of fastest growing industry in the world at the moment. Just look around at places approaching MacDonald, with their alien healthier choices menu.
I'm 18 years aged, a university student, and i love being a Herbalife Distributor. I've worked beside Herbalife since February this year and not only enjoy i lost over 20kgs, but have made profoundly of money every single month, through simply helping people to lose immensity through the most effective and past the worst way - cellular nutrition, which is the foundation of our products. And, this is from in recent times retailing the products.
We get trained contained by various forms – obverse by face, locally, regionally, and intentionally. And guess what? In one week, I’ll be going to Singapore for my first international training! If you be to start a business today, do you believe that people will train you step by step to become successful? I don’t feel so! And of course, a tiny, tiny, tiny, and did I enunciate tiny? Investment(purchasing the international business package) to start your Herbalife business which potentially can go internationally is nought. Think about if you be going to open a Subway, how much money will you enjoy to put in it, to newly get it started? At Herbalife, you don’t even enjoy to keep an inventory. And for anyone that say's it's expensive, convey me how much money do you pay contained by eating out everyday? One Herbalife feast is about $7-$10, which thus is alike as how much you eat out. And estimate about it, what's the price of paying contained by preventing diatery diseases, as opposed to curing it contained by the future. Please answer me that, for anyone that say Herbalife is expensive.
Let me tell you this, if I be to never make a single dollar contained by Herbalife again, I’ll still be doing this business. Why, you might ask? I’ve gotten my health subsidise, I get to work near the best people and enjoy the best mentor, whom I’m great friends with, I seize to attend trainings which make me more dear in the bazaar, as I’m not only competent to attain vital business skills, but they drill me to grow as a person. But more importantly, I bring back to help those to improve their vigour, and get thank for it.
I can tell you next to absolute sincerely, that this is the best finding you can make. If an 18 year antiquated like me, can do it, whilst proving adjectives the negative connotations attached to Herbalife are wrong, consequently you can do it as well. I know what I do is right, and there's nil in the world that can try to break me, nor prove me wrong.
All the best within your health and magnificence!
How to collect investors for my upcoming business project?
Question:
i want someone to invest in my agribiotech company.
Answers:
1. You requirement a business plan that shows EVERYTHING you intend to do and what it will cost.
2. Then you need to contact endeavour capitalists surrounded by your area.