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Managerial Accounting

06/08/19

Generally Accepted Accounting Principles question?

In _QuickBooks 2011 for Dummies_, pg. 24, there are listed several generally accepted accounting principles. I see that **Expense Principle** The *expense principle* states that an expense occurs... more

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Managerial Accounting

06/08/19

What can a CPA do that an EA cannot, and vice versa?

A lot of the responsibilities of CPAs and Enrolled Agents appear to overlap, but could someone outline the key differences? When would I choose to hire one versus the other?

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Managerial Accounting

06/06/19

Why some companies are reporting loss due to the new US tax law?

From http://uk.businessinsider.com/bank-of-america-fourth-quarter-earnings-q4-2018-1?r=US&IR=T: > Like the other big banks, Bank of America took a hit from the recently > enacted tax... more

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Managerial Accounting

06/06/19

Should a strategy backtested against three years of tick data continue to produce positive results?

Let's say we have a Binary Options 5-minute trading strategy that relies on multiple indicators and exploits price reversals in currency pairs. Now let's say there is a combination of inputs for... more

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Managerial Accounting

06/06/19

Why is volume a totally independent variable from price?

In Martin Pring's book "Technical analysis explained", when talking about volume, he asserts that it is "a totally independent variable from price" Why is this?

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Managerial Accounting

05/29/19

Confusion about Balance sheet equation and sum of the cashflows?

I was solving a business case I had at school where i just needed to compute the cashflows (CF). Once I have done so I wanted to check that my calculations are all good by verifying that the... more

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Managerial Accounting Accounting Equity Assets

05/15/19

What is the difference between equity and assets?

I am (going to be) using GNU Cash, which uses the double-entry method; I use it for personal finance. Reading various tutorials for GNU cash, it lists 5 types of accounts: income, expense, assets,... more

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Managerial Accounting Accounting Children

05/14/19

How to teach personal accounting to an 8-year-old?

I try to teach my 8 year old daughter the basics of finance. She has some her own money (partly in a wallet, partly in a piggy-bank). Some time ago, she threw a short tantrum about "someone... more

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Managerial Accounting Accounting Double Entry

05/13/19

Comprehensive tutorial on double-entry personal finance?

Can anyone recommend a comprehensive tutorial on using double-entry accounting to manage personal finances? I've read a few articles that make double-entry seem worth learning, but I'm struggling... more

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Managerial Accounting Accounting Asset Pricing

05/13/19

Assets, Liabilities, Equity?

I am writing a business plan based on some old notes from a master in economics. However I am I bit confused. Can you please confirm the following is right? (above all what's **marked in... more

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Managerial Accounting Accounting Bookkeeping Double Entry

05/12/19

What would be the appropriate account for written off loans to friends and family?

In the past I have lent some money to friends and family, which I have not gotten back. I don't want to ask them for the cash, but I do want to clean up my accounts. How would I record this in my... more

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Managerial Accounting Accounting Rent Utilities

05/12/19

How to divide up utilities amongst tenants?

Let's say I have two tenants who share my apartment with me. It is agreed that utilities shall be divided equally amongst us. However, one tenant has, as part of his lease, a stipulation that all... more

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Managerial Accounting Accounting Double Entry Record Keeping

05/12/19

What's an account called that always balances to 0?

I use a pretty standard double-entry system in GnuCash (Income/Expenses, Assets/Liabilities). With my wife going back to school this fall, I did something in my accounting that I haven't done... more

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Managerial Accounting Accounting Bookkeeping

05/07/19

Accounting treatment for store credit?

I just got store credit when I returned some bad juice. This left me wondering. Which accounts receive the entries when a store issues store credit? For example, when I made the payment for the... more

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Managerial Accounting Budget

05/06/19

What kinds of expenses should I have separately in family budget?

What kinds of expenses should I have separately in family budget? Like food, medications, transport, clothes, housing, kids, personal expenses, sports, flat maintenance, loans, rent. There are... more

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Managerial Accounting Accounting

05/06/19

Accounting treatment for small bank verification deposits?

How do I record small deposits (e.g. $0.05, $0.07) as a result of bank verification for purposes of accounting? As income? Negative expenses?

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Managerial Accounting Accounting Bookkeeping Documents

04/30/19

Which date to record for a transaction?

I need to record a transaction in a journal. If I take the date of the paper receipt, this might be different to the date on my bank statement. Which one should I use? Should I use one, and then... more

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Managerial Accounting Accounting

04/26/19

Accounting Help: How to calculate new product cost per unit for Variable & Absorption costing?

In 2017, ABS manufacturing produced and sold 50,000 units of "x" product in their first year. The following info is provided:Total sales: (50,000 x $80) 4,000,000Units Produced and Sold: ... more

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Managerial Accounting Business Accounting Calculation

04/24/19

Calculating the cost of waiting longer for money?

I'm trying to calculate the cost of waiting 30 extra days to receive money from a customer. Here's the situation: > How much would this cost a company per year if a customer pays us in 60 days... more

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Managerial Accounting Budget

04/21/19

How to calculate money needed for bills, by day?

I'm trying to figure out how to budget my money so I can look to see how much money I need on that particular day for bills. I've had an excel sheet I've used for a while that has all my bills... more

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Managerial Accounting Budget

04/21/19

I can make a budget, but how can I get myself to consistently follow my budget?

I'm able to sit down and put together a budget. My problem is following it. After about a month of being strict, I lose sight of things, and get off the budget. It's then a couple of months later... more

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Managerial Accounting Accounting Equity Gnucash

04/20/19

GNUCash: How to count up equity?

I'm new to getting my finances in order, and I've decided to use GNUCash to track my spending and general financial health. I'm reading the manual and trying to take control! My trouble and... more

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Managerial Accounting Accounting

04/19/19

Can I use both FIFO and Specific ID for inventory accounting?

This is something I started thinking about when I was working at a bike shop. I imagine there may be other similar use cases. So, let's say I have an inventory stream that consists of both... more

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Managerial Accounting Accounting

04/19/19

Calculating assets-to-equity from equity-to-assets?

I've read that to calculate **equity**-to-**assets** using **assets**-to-**equity** the following can be done: assets-to-equity = 40% equity-to-assets = 1/0.4 = 2.5 Why does that work out?

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Managerial Accounting Accounting

04/19/19

Why only stockholder equity in the well-known accounting equation?

Assets = liabilities + stockholders' equity. Isn't this an oversimplification? The (traded) company may have raised money through stock, but maybe it also issued bonds, has profit this year,... more

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Generally Accepted Accounting Principles question?

What can a CPA do that an EA cannot, and vice versa?

Why some companies are reporting loss due to the new US tax law?

Should a strategy backtested against three years of tick data continue to produce positive results?

Why is volume a totally independent variable from price?

Confusion about Balance sheet equation and sum of the cashflows?

What is the difference between equity and assets?

How to teach personal accounting to an 8-year-old?

Comprehensive tutorial on double-entry personal finance?

Assets, Liabilities, Equity?

What would be the appropriate account for written off loans to friends and family?

How to divide up utilities amongst tenants?

What's an account called that always balances to 0?

Accounting treatment for store credit?

What kinds of expenses should I have separately in family budget?

Accounting treatment for small bank verification deposits?

Which date to record for a transaction?

Accounting Help: How to calculate new product cost per unit for Variable & Absorption costing?

Calculating the cost of waiting longer for money?

How to calculate money needed for bills, by day?

I can make a budget, but how can I get myself to consistently follow my budget?

GNUCash: How to count up equity?

Can I use both FIFO and Specific ID for inventory accounting?

Calculating assets-to-equity from equity-to-assets?

Why only stockholder equity in the well-known accounting equation?

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