I do not enjoy the music and arrangement of this, I feel it tries to hard to make accounting interesting, but it does get the point across and if people find it useful then I guess it works.
One of my instructors (and now friend), shared a nugget of information with our class back in second year that was one of my post-secondary lightbulb moments. You know those moments when someone says something or you figure something out, and the world around you gets brighter and shinier? Well back to the moment, he told us that when we are in doubt look at the journal entries and think about which financial statement they will affect. The majority of JEs will have one line affect the income statement and the other line affect the balance sheet.
Test it out for yourself.
DR Cash $100
CR Revenues. $100
Cash is a balance sheet account and revenues is an income statement account.
With compound entries, you’ll need to separate it out in your head but it’s all the same still.
DR Cash $100
DR Cost of Goods Sold $150
CR Revenues $100
CR Inventory $150
I know there will be the odd transaction that won’t (especially when dealing with manufacturing and inventory) but for the most part it is correct.
I have been reading the Foundation series by Isaac Asimov lately thanks to a suggestion from my boyfriend. In the first few books it focuses on the First Foundation, a society of scientists on the most distant planet in the universe, brought together initially with the goal of working on an encyclopaedia of all the scientific information and history of the universe. Spoilers ahead.
I want to pose a question to you all, what is your opinion on posting a new job/position on your LinkedIn profile, when you haven’t started yet? Do you post it as soon as the contract ink is dry? Or do you wait until the first day is done (and you were not asked to leave before 4:30)?
I saw this post over on Going Concern, and had to share it. It might not be accurate, but it is always fun to combine things that I love, in this case: accounting and Harry Potter.
Using the best research tools at my disposal (e.g. Harry Potter Wiki) I find your initial suggestions to be grossly off the mark. For starters, if one were to simply look at the House Colors Colours of the Four Houses of Hogwarts, you would see Gryffindor is crimson and gold, Slytherin is green and silver, Ravenclaw is blue and silver, Hufflepuff is yellow and black. So from a purely superficial analysis the Houses/Firms would fall in this way:
Chapter 12 of Groundswell changes up the perspective, and moves away from the external groundswell and focuses instead on the groundswell inside your own company. I haven’t (yet) worked for an accounting-focused firm, but I have been involved in organizations that have attempted to use this internal groundswell idea. They have set up internal intranet sites for us to visit every morning and check up on what has happened since we were last in the office, and there is a section for every department to post information about their inner workings and projects they are focusing on currently. As well there is a general social listings area where anyone in the organization can post that they are selling bookcases, looking for a good recreation league to join, running a fund-raising campaign for their child’s school field trip or extra-curricular activities. It is a great start for that organization, but it doesn’t really allow for employees to share their own individual views, as all content has to be forwarded to the Communications department and then edited for clarity and focus.
Determining whether social media has been beneficial to a business is a difficult item to prove and calculate. It is not quite so easy as asking someone how to calculate earnings per share (EPS); there are differing variables, outcomes and expectations for social media ROI, and these must be known before you can see if objectives have been met.
A little humour for those following my blog.
Part 2, et al. will be posted this weekend for those who can wait for the next instalment. 🙂
Energizing a business’ customers is tough. Finding customers that are energized or self-energized can be likened to a Christmas miracle. Finding balanced accountants who are energized about being accountants regardless of their specific designation, and who are honest about their profession’s benefits and downfalls is a little more of a possibility. A problem that I have found as a potential customer of the accounting profession (*puts on her Critic hat again*) is that those members who are honest and truthful about the profession, are not listened to by the profession; the people they “feature” are those who are only say the positive things about the profession (and in some cases to the right ears).
Check out the ICAA‘s CApitalize information magazine. Of the articles I have been able to read through, all of the members only speak to the positive of being a CA, of how great the ICAA is, what types of benefits a person will attain by being a CA, etc. I am not saying that these are not good things, and I am sure that there was some pre-publishing editing that was done, but a little more transparency and honesty are needed in my opinion.