Two Types of Accounting

Managerial Accounting is used by firms for decision-making about the operation and non-operation transaction of firm itself.

Financial Accounting is an accounting standard that need standard procedure to implement and execute that’s inline with GAAP (Generally Accepted Accounting Principles).

Petty Cash Voucher Form

Below you will find sample of basic Petty Cash Voucher Form that you can used as a reference for a particular expense without receipt to attach. It is mostly used as a receipt payment in cash for any small amount spent in running an office transaction.

The above form can be edited by replacing the appropriate data of the followings:

- company name
- address & contacts
- currency exchange

Then you have a petty cash voucher slip to use for your everyday expense...

Excerpt Definitions of Bookkeeper

       someone who records the transactions of a certain business or organization regarding finances;

       The person who does the Bookkeeping Transaction, Bookkeeping should not be confused with accounting…

       The person responsible for posting and keeping records or documents, e.g. business or organization;

       Bookkeeper has very little correlation with Accounting. He also involves in directing and supervising agricultural laborers in the site/ or field, mostly in a farm or food or consumer industries;

       One who holds and assigned to keep all the records of books, prepares invoices, writes checks, makes bank deposits, checks bank statements, and is responsible for tax payments and distribution;

       A clerical worker who maintains the financial records that an accountant shapes into usable information.

       Book keeper also the person who provides a financial support and administrative role to managers or owners for small to medium size of organization/businesses;

       In process the input of data into an accounting system, including the amount, date, and source of each revenue or expense, this task will not be reliable unless the person who supervises is a bookkeeper.

References:

businesswebaccounting. com

wordnetweb.princeton. edu/perl/webwn

nationmaster. com/encyclopedia/Offshore-financial-centres

nationmaster.com/encyclopedia/Zatch-Bell

mcgrawhill. ca/college/larson10/student/olc/10fal_gloss_01.html

book-keepers. net/glossary/4520160812

moneymatters101. com/startingabusiness/bust/bustb.asp

crfonline. org/orc/glossary/b.html

autozone. com/autozone/repairinfo/common/repairInfoMain.jsp

jamaicanfamilysearch. com/Samples/Glossary.htm

en.wiktionary. org/wiki/bookkeeping

wordnetweb.princeton. edu/perl/webwn

en.wiktionary. org/wiki/bookkeeper

en.wikipedia. org/wiki/Bookkeeper

 

What is Bookkeeping

·        The activity of recording business transactions

·         Bookkeeping is the recording of financial transactions. Transactions include sales, purchases, income, and payments by an individual or organization.

·         A bookkeeper usually performs bookkeeping. Bookkeeping should not be confused with accounting. .

·         book keeping - Maintaining the accounts, by written record in the books, or by electronic data entries

·         The record keeping aspect of accounting that is applied in the preparation of financial statements for taxation and other data that companies and individuals use to keep track of business and personal expenses and obligations.

·         The part of accounting that involves recording economic transactions and events electronically or manually; also called record keeping.

·         This is the process of entering data into an accounting system, including the amount, date, and source of each revenue or expense. No accounting system will work without reliable bookkeeping.

·         Bookkeeping, commonly referred to as keeping the books, is the process of keeping full, accurate, up-to-date business records. Proper bookkeeping can help businesses effectively manage cash flow, stay abreast of profits and losses, and develop plans for the future based on financial trends. Furthermore, accurate bookkeeping is required by both federal and local tax agencies.

·         Bookkeeping involves making a record of the monies received by a business as well as the monies paid out. It encompasses money a company owes to vendors, employees, tax agencies, contractors and any other individual or entity. Likewise, accurate records of amounts owed to a company by outside individuals and organizations are recorded in a company's books.

Sources:

wordnetweb. princeton. edu/perl/webwn

en.wikipedia. org/wiki/Bookkeeping

moneymatters101. com/startingabusiness/bust/bustb.asp

mcgrawhill. ca/college/larson10/student/olc/10fal_gloss_01.html

businesswebaccounting. com/

wisegeek. com/what-is-bookkeeping.htm

Definition of Accountant

• The person whose maintaining the book of accounts;

• Auditing the Financial Flow of Transaction for an Organization;

• The Person whose doing the posting of all sales and expense report;

• A practitioner which measure and can disclose accurately the financial information to top management;

• The Person whose in charge in preparing an income statement and balance sheet quarterly, bi-annual and annually.

No Reference: Comes from a point of view of an HR Practioner...

Definition of Accounting

Brief and Conscise Definitions of accounting from all sources

• a system that provides quantitative information about finances and expenses
• In terms of accountancy, it is the occupation of maintaining and auditing records and preparing financial reports for a particular business and time frame, mostly it is quarterly, bi-annual and annually;
• a chronological list of bookkeeping transaction related to individual/business debits and credits presenting in the forms and it’s part of a ledger of accounts;
• In terms of account, it is a statement of recent transactions made with the resulting balance;
• The art of communicating all financial information of a certain business entity to shareholders/stockholders and top management. This communication is mostly generated using a form which generally called financial statements that shows money and resources;
• The Subject Accounting was first introduced on 1958 using the novel Scottish written by Bruce Marshall;
• It is a development using of a system in recording and analyzing financial transactions and status of a business/ or organization;
• A relaying or continuously of events from the start of an organization, to justify action within operation;
• A total system for recording and summarizing business transactions (in and out);

References:

agmrc. org/business_development/getting_prepared/valueadded_agriculture/glossaries_of_terms/farm_analysis_terms.cfm

wordnetweb.princeton.edu/perl/webwn

en. wikipedia. org/wiki/Accounting