Finance FAQs

What is definition of a cash float in accounting?
Cash float is the time between when you authorize a bank to disperse funds from your bank account and when it actually leaves your account. ...... More »
What is a difference between public and private accounting?
Public accounting includes any accounting work that a company performs for another company. Examples would be audits, tax compliance, consulting, etc. The "Big 4" (KPMG, Deloitte & Touch�, Price Waterhouse Coopers, and Ernst & Young) are t...... More »
Explain the concept of responsibility accounting
They are Collection, summarization, and reporting of financial information about various decision centers (responsibility centers) throughout an organization; called activity accounting or profitability accounting. It traces costs, revenues, or pr...... More »
What is the relationship between bookkeeping and accounting?
Bookkeepers perform a critical function for the firms and organizations they serve. Regularly challenged to maintain precise and accurate records, bookkeepers produce the vital reports that keep management up to date on the financial condition of ...... More »
Accounting for VC money in financials
It depends on the form in which the money comes in. If it was invested as equity (either Common or Preferred Stock), it shows up on the balance sheet as Paid in Capital. If it came in as debt (such as bridge loan, secured note, etc.) it shows up a...... More »
Definition of push down accounting
A method of accounting wherein the financial report of the subsidiary reflects the parents cost incurred in acquiring the sub. ...... More »
How does accounting contribute to the community?
Accounting helps communities in many ways. Accountants help the communities manage their money and they take care of their taxes yearly. They also manage their money, help set a budget for them and teach them to manage their money wisely. ...... More »
What are accounting rules called?
The accounting rules are called the 'golden rules of accounting' i.e. Debit what comes in, and credit what goes out Debit the receiver and credit the giver Debit all expenses and loss and credit all incomes and gains...... More »
What do you mean by material facts in accounting?
Material facts are documents pertaining to the historical events of the facts being justified ...... More »
Why Accounting is important in business?
Because a business is all about money and management of money can only be done through accounting and not otherwise ...... More »