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What is the system called The system of preparing financial statements based on recognizing revenues when the cash is received and reporting expenses when the cash is paid?
i don't now [Jabirshah] The system for recognizing revenues influenced with payment and receipt of cash is called "Cash base accounting system".
Accounting and its functional objectives?
There are many objectives to accounting. A systematic accounting system will should have the following objectives: to maintain cash account balances, to detect fraud, and maintain ledger account balances.
What happens when cash is received in payment of an account?
Received cash from a customer as payment on account
An application of good internal control over cash disbursements is...?
following payment, the approved invoice should be stamped "paid"
What is journal entry for fluctuating fund system?
establishment of fund: petty cash fund xx cash in bank xx payment of expenses out of the petty cash fund: expenses xx petty cash fund xx
What are the 5 key control objectives in cash payment system?
list 5 key control objectives in a cash payment system
What are the 5 key control objectives in cash payments?
list 5 key control objectives in a cash payment system
What is the system called The system of preparing financial statements based on recognizing revenues when the cash is received and reporting expenses when the cash is paid?
i don't now [Jabirshah] The system for recognizing revenues influenced with payment and receipt of cash is called "Cash base accounting system".
Payment by check or payment by cash?
cash payment limited for budget 2010-2011
Accounting and its functional objectives?
There are many objectives to accounting. A systematic accounting system will should have the following objectives: to maintain cash account balances, to detect fraud, and maintain ledger account balances.
How does objectives of cash management differ from goals of cash of management?
A goal is to accomplish the objectives. They are co-dependent.
What happens when cash is received in payment of an account?
Received cash from a customer as payment on account
An application of good internal control over cash disbursements is...?
following payment, the approved invoice should be stamped "paid"
If a company will not take your cash payment do you still owe the money?
Yes, but it's strange they won't take cash. Try to find out what form they want payment in, and then try to make payment that way. If cash is the only way you can do it, call them and ask how to make a payment in cash.
What is journal entry for fluctuating fund system?
establishment of fund: petty cash fund xx cash in bank xx payment of expenses out of the petty cash fund: expenses xx petty cash fund xx
What is mercantile system and cash system in accountancy?
cash system of accounting is a system in which accounting entries are made only when cash is received or paid. No entry is made when a payment or receipt is merely due. For example, the rent for December 2009 has not been paid till January 10th 2010. Under cash basis, rent expense for the month of December will not be recorded as payment has not been made. Government system of accounting is mostly on the cash system.Andmercantile/accrual system of accounting means system in which accounting entries are made on the basis of amount having become due for payment or receipt. This system recognizes the fact that if a transaction or an event occurred, its consequences cannot be avoided and therefore, should be brought into book in order to present a meaningful picture of profit earned or loss suffered.
What is the journal entry for down payment of cash?
[Debit] Down payment xxxx [Credit] cash xxxx
