Whats the differnece between bookkeeping and accounting?
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The difference between accountants and bookkeepers is not always clear, particularly in smaller companies where bookkeepers also help interpret the accounting information. In large companies, the distinction is clearer this is because in a structured organization work is specialized. Bookkeepers focus on processing of accounting data. Accountants design the accounting information system and focus on analyzing and interpreting information.
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QuickBooks is a bookkeeping program sold by Intuit, who also makes and sells TurboTax, and a lot of other business related products.
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Cost accounting is the process of tracking, recording and analyzing costs associated with the products or activities of an organization. In modern accounting, costs are measured in accordance with the Generally Accepted Accounting Principles (GAAP). GAAP reporting records historical events and assigns a monetary value to each event that has taken place. Costs are measured in units of currency by convention. Cost accounting could also be defined as a kind of management accounting that translates the Supply Chain (the series of events in the production process that, in concert, result in a product) into financial values. Managers use cost accounting to support decision making to reduce a company's costs and improve its profitability.\n\nThere are at least four approaches:\n\n    * Standard Cost Accounting\n    * Activity-based Costing\n    * Throughput Accounting\n    * Marginal Costing\n\n\nOrigins\n\nCost accounting has long been used to help managers understand the costs of running a business. Modern cost accounting originated during the industrial revolution, when the complexities of running a large scale business led to the development of systems for recording and tracking costs to help business owners and managers make decisions.\n\nIn the early industrial age, most of the costs incurred by a business were what modern accountants call "variable costs" because they varied directly with the amount of production. Money was spent on labor, raw materials, power to run a factory, etc. in direct proportion to production. Managers could simply total the variable costs for a product and use this as a rough guide for decision-making.\n\nSome costs tend to remain the same even during busy periods, unlike variable costs which rise and fall with volume of work. Over time, the importance of these "fixed costs" has become more important to managers. Examples of fixed costs include the depreciation of plant and equipment, and the cost of departments such as maintenance, tooling, production control, purchasing, quality control, storage and handling, plant supervision and engineering. In the early twentieth century, these costs were of little importance to most businesses. However, in the twenty-first century, these costs are often more important than the variable cost of a product, and allocating them to a broad range of products can lead to bad decision making. Managers must understand fixed costs in order to make decisions about products and pricing.\n\nFor example: A company produced railway coaches and had only one product. To make each coach, the company needed to purchase $60 of raw materials and components, and pay 6 laborers $40 each. Therefore, total variable cost for each coach was $300. Knowing that making a coach required spending $300, managers knew they couldn't sell below that price without losing money on each coach. Any price above $300 became a contribution to the fixed costs of the company. If the fixed costs were, say, $1000 per month for rent, insurance and owner's salary, the company could therefore sell 5 coaches per month for a total of $3000 (priced at $600 each), or 10 coaches for a total of $4500 (priced at $450 each), and make a profit of $500 in both cases.
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Accounting is like technology in a way. Any job where you hope to be a manager will require you to be a bookkeeper and/or an accountant, and like technology, it all helps you move up the chain faster at any company. Even the online director at a company has to be an accountant. Entrepreneurs have to be accountants and techies to get investors.
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Accounting is an activity that can be termed an art as well as a science.  \n\nAccouting (financial accounting more so) is the act of collecting, recording, financial information in order to derive information that is capable of being analysed, summarized and reported. \n\nIt generally considers only information (transactions) that are capable of being viewed (measured) in monetary terms. \n\nHowever, in modern day computerised accounting environments there is a lot of other relevant information that is recorded along with the financial information (like inventory data) to make accounting a complex information collection, processing and retreival system.\n\nAccounting can be a complete record of all the activities of a business, providing details of every aspect of the business, allowing the analysis of business, and providing insight into future prospects.\n\nBookkeeping is the practice of recording transactions. Bookkeepers tend to focus on the details, recording transactions in an efficient and organized manner, and they may or may not see the overall picture.\n\nAccountants use the work done by bookkeepers to produce and analyze financial reports. Although accounting follows the same principles and rules as bookkeeping, an accountant can design a system that will capture all of the details necessary to satisfy the needs of the business—managerial, financial reporting, projection, analysis, and tax reporting. A good accountant will create a system of financial reporting that gives a complete picture of a business.\n\nhttp://www.futureaccountant.com/\n\nhttp://www.schoolingkids.com/
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Well, accrued accounting process is obviously different than the cash accounting process. For cash accounting, all you need is to record the amount when cash change hands. However, for accrued accounting, you have to go along with the MATCHING PRINCIPLE -- you have to match your revenues with your expenses (in the same reporting period). For example, you made a payment for renting an apartment for two years (this year & next year). In this year, you can only report this year's rent; you can't report the total payment for Yr 1 and Yr 2. You have to report the rent of Yr 2 in Yr 2 because that's when you actually use (expense) the apartment (Yes, even though you paid it).\n\nI hope this help.
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This site has a good explanation on the basic accounting process\n\n\nhttp://www.futureaccountant.com/accounting-process/
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It totally depends on what you want to do.  I got a BofBA in accounting and now I'm an accountant.  Some of the folks I work with got Com degress and are now answering the phone in customer service.  I would say, for either degree, get a speacialty in something like marketing, management, journalism, etc. so that you'll be really great in one field.  It's better to be great at one thing than just ok at a lot of things.
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The satement of financial position is the same as the balance sheet. In it, you list your assets, liabilities and equity with their corresponding values.  Ask your accountant for specifics.
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try reading these pages .. to have an understanding on the purpose of accounting... and the basic concepts behind them..\n\nhttp://www.futureaccountant.com/accounting-process/study-notes/\n\n\nhttp://www.futureaccountant.com/\n\nhttp://www.schoolingkids.com/
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Debit is a formal bookkeeping and accounting term that comes from the Latin word debere, which means "to owe". The Latin debitum means "debt". The opposite of a debit is a credit. Debit is abbreviated Dr, while credit is abbreviated Cr.
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In accounting information system (also called accounting cycle) is the system of records a business keeps to maintain its accounting system. This includes the purchase, sales and nominal ledgers and cash books of the business. While this was previously a paper-based process, most modern businesses now use computerized accounting systems.\n\nSteps in accounting cycle:\n\n   1. Creating journal entries for transactions\n   2. Creating general ledger\n   3. Creating trial balance\n   4. Making adjusting entries\n   5. Creating adjusted trial balance\n   6. Preparing financial statements\n   7. Closing temporary accounts
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Accounting deals strictly with what has been done. Doing people's taxes for instance. You may give people some hints as to what they should do in the future but it is on the level of data x means y.\n\nActuarial science on the other hand deals with predictions. You have to look at trends and advise companies as to what they should do to make sure that they are dealing financially ethically with their customers but also not going to go under. \n\nFor example let's say that you would be working for a home insurance place and you notice that most years 1 home burns down. Well then you need to charge enough from your customers to deal with the cost of one of the homes burning down. YOu actually need to charge more than that because there is the chance that 2 homes could burn down and then where would you be? It seems incredibly difficult to me but if you are interested in it you should start by becoming a math major because you will be using a lot of high level statistics and calculus at the very least.
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accural accounting will show that you are recognizing the expense and paying it when it is due. Take for example employee's pay. Your pay period runs sunday to sunday. Your quarter ends on a Wednesday. This must be recognized in your journal and ledger as it won't be on the employee's check. It must be explained so you will use accural accounting.\ncash accounting is like sales with cash when something is sold something is paid for. Record sales journalize then post.\nfor financial statements use accrual accounting as there will be areas that run beyond the fiscal period yet have to adhere to the GAAP
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Spreadsheets are essentially accounting worksheets.  They serve the exact same purpose.  Finance people also use them, probably more than accountants do.\n\nSource - 25 years of accounting & finance experience.
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This site has a wonderful explanation on the basics of accounting. Please be patient enough to read through. http://www.futureaccountant.com/accounting-process/study-notes/\n\n\nhttp://www.futureaccountant.com/\nhttp://www.schoolingkids.com
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I am unable to follow your question.\n\nIn finance, one is Receipts and the other is Payments.\n\nPut all your income in a book and expenses in another.\nTry to mark it how you earn those amounts.