By Trevor Gambling

ISBN-10: 0080130259

ISBN-13: 9780080130255

A One-Year Accounting direction, half I makes a speciality of the rules, methodologies, and techniques keen on the learn of accounting.

The e-book first takes a glance on the rules of double-entry book-keeping and components of mechanized accounting. Discussions concentrate on punched-card accounting installations, equipment of evidence, keyboard accounting desktop, twin point of all buying and selling transactions, funds transactions, nominal ledge, and private ledger bills. The textual content then explores capital and profit, ultimate bills, and interpretation of bills. issues comprise balance-sheet ratios, capital place, resources and liabilities, fastened and present resources, valuation of resources, depreciation of mounted resources, inventories of fabrics, and accruals and prepayments.
The booklet ponders on old costing documents and costing innovations, together with uncomplicated technique costing, direct or marginal costing, inventory keep an eye on, shops accounting, and minimal shop degrees.

The manuscript is a in charge reference for accountants and researchers attracted to accounting.

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However, it is obvious that this simultaneous preparation could be applied even to a manual system (see Part II, Chapter 3), so the principal advantage to be gained is the greater degree of accuracy obtained by mechanical systems, both in mathematical exactness and by ensuring the uniform treatment of similar transactions. The traditional 'proof of accuracy' of the manual method is the trial balance described in the previous chapter, and trial balances are still used in mechanized systems, but it is clear that this device is of only limited use where the number of transactions are large and a ELEMENTS OF MECHANIZED ACCOUNTING 33 number of clerks (or machine operators) are employed.

332,944 + 5,526 - 3,819] 1 Jan. Accruals brought forward (5 days pay to 502 men) (5,526) CAPITAL AND REVENUE 43 The result is to charge the correct amount to revenue in respect of the actual 365 days during the period, irrespective of whether they were paid for or not. Inventories of Materials A major problem which must be dealt with when attempting to match income and revenue is the treatment of stocks on hand whether of stationery, engineer's stores, raw materials, finished or partlyfinishedgoods.

5. Simplified layout of typical keyboard accounting machine. from this the control panel or programme will be constructed. In practice these layouts are rather complex, and since they differ according to the make of machine, once again it will be better to use a much simplified diagram for an illustration (Fig. 5). This shows a typical 'job' for a keyboard account­ ing machine; a personal ledger account. It is usual to prepare simultaneously a ledger card, a statement or remittance advice for the other party and a 'proof sheet' containing details of all the transactions in the same *posting run'.

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A One-Year Accounting Course by Trevor Gambling


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