Accounting Information System
There are times when one simulcast in a day just isn't enough; but both of my blogee communities need to know the following.
Late last year I was contacted by a publisher in the USA asking for my permission for an author of theirs to use something from my duncanwil web site. They showed me what they wanted to use and I agreed. I didn't ask for payment, of course, but did ask for a copy of the book when it came out and yesterday it arrived!
By the way, this is not the first time that page has been used. A very famous academic accountant, Germaine Groer, borrowd the same page a couple of years ago and said to me that it was the best thing he'd read on coding for accountants anywhere. It also led to a very good friend of mine from over 25 years ago getting back in touch as he was looking for things on coding for some training he was doing. We chatted by email for a while and then I had my monster computer crash and I lost his email address ... Barry Clayton, please write again!!
Anyway, the book is by Robert L Hurt and is called Accounting Information Systems: basic concepts and current issues, published by McGraw-Hill Irwin ISBN 978-0-07-319555-1. I'm not sure when it will be generally available and I will review it on my duncawil site in a week or so, all being well. I have skimmed it already and it contains some very nice features.
DW
Putt's Law
Simulcast again. This time to announce that I've just heard of Putt's Law:
Technology is dominated by two types of people: those who understand what they do not manage, and those who manage what they do not understand.
DW
Accounting Problem 3
Here is the third of three accounting problems I am posting today.
As before, when I receive five attempts at these questions from different people I will chip in with my solution/comments.
Balance Sheet
I am attempting to do the financial statements for our business. I have completed the P&L Statement and am having difficulty with the balance sheet. I understand most of it (I am not an accountant...) but when I get to the retained earnings and such I am at a loss as what to do. Can anyone please explain to me in detail where this all comes from?
Here is my dilemma. There was no P&L Statement or Balance sheet completed last year. Is it even possible to do this without that? Would it be accurate enough for a bank if I go through last years records and get at least a general £ amount for the retained earnings/balance sheet? It 's possible I need to turn this over to an accountant...but I would like to try this on my own. So for example my retained earnings for this past year are £40,000 with (3,000) in dividends paid out. Can I consider this my equity even though I do not have any financial statements to use from 05?
Duncan Williamson
Accounting Problem 2
Here is the second of three accounting problems I am posting today.
As before, when I receive five attempts at these questions from different people I will chip in with my solution/comments.
This question is more knowledge based than question one. What would you say to anyone asking this question?
Depreciation and Useful Life
Can someone assist in finding the actual useful life for depreciating items? For example a GAAP website to let me know that a chair should be depreciated over 3 years v 5 years?
Duncan Williamson
Accounting Problem 1
I am going to post a couple of accounting questions for you to try. Nothing horrific but they do require a bit of thought/knowledge.
Don't be shy, have a go and post your answers and then I'll give my version: once I've recieved attempts from five different people!Break Even AnalysisI have 2 products A & B, product A has operating cost of $600,00 pa + $12 per unit flexible manufacturing costs, product B has operating costs of $1,400,000 + $10 flexible manufacturing costs- the answer is about 40,000 units break even, I think, but how is this calculated?
Think carefully!
Duncan Williamson
How not to ...
I have to dash out to meet someone who is keen to learn something from me!
However, I want to whet your appetite by letting you know that when I get back in, or tomorrow morning, I will let you in on what happened to me today when I made a phone call on behalf of someone else. I was the victim on an astonishing tirade that will leave you reeling.
Also today and on a similar mission, I was met with absolute professionalism and courtesy.
Modern Britain!
Duncan Williamson
It's here ... the OxBowBusiness AQA June 2007 Case Study Analysis
We're back and we're first and we're the best!
The AQA June 2007 Units 2 and 3 Business Studies case study has been released today and OxBowBusiness is ahead of the field
in terms of speed
in terms of innovation
in terms of quality
in terms of variety
Oh well, you know how it is!
Just £25 will allow us to unleash on you the combined wisdom of Messrs Williamson and Sivewright. You can start by clicking
here.
TEACHERS don't forget there is a special OxBowBusiness Conference on this case study on 21st March. See more details by clicking
here.
Duncan Williamson
What shape is this?
Here's a tricky one for at least one of our readers so let me share it with you.
Take a piece of paper and a pencil or pen.
Put the pencil on the page and draw a horizontal and straight line from right to left for a length of 7.5 centimetres. Keep the pencil on the paper and dnow draw another straight line but upwards at an angle of 30 degrees for a length of 4 centimetres. Keeping the pencil on the paper now draw a horizontal and straight line 3 cm long. Still keeping the pencil on the paper complete the shape by joing the two lines that are surrently unjoined.
Don't worry if your shape is a bit skewed but it should be regular: what is the name of the shape you have drawn?
Don't be shy, just write in! Then I will reveal all.
OK, this is proving a little tricky for everyone. Here is the shape you should get if you follow my instructions ... now, what is this shape called?
There is a good reason behind this apparent utter nonsense!
Duncan Williamson
Labels: Name the shape
