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accounting what numbers
A landlord is asking for bank account numbers on a rental application and I was wondering what they want this?

I am moving into a nice apartment in new york with other people, and they ask for bank account info.

Will they likely call the bank, and if so, what information are they looking for? How much i've got in the bank?

My concern is that i only keep a little bit in checking and like 90% of my money in brokerage accounts since I am a trader. I gave them this account number too so they can verify funds. Will they consider this money if they are looking for how much money I have?

I would strongly suggest you not give out your account information, even to your landlord and especially not on paper. By law, the bank is not allowed to give anyone your account information if they are not listed on the account. Since your landlord is not listed on your account, he/she will not be able to access your account. The bank cannot even tell him/her that you have an account with them. There is no need for them to know this information.

Huron students sign on to Woodlands wind power
HURON It's a wind turbine rising from the cornfield behind Woodlands Intermediate School, not a baseball diamond, but what principal Mark Doughty has been telling the students has a "Field of Dreams" ring to it.

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Magical Accounting & Numbers Radio Commercial

accounting quickbooks pro
How do I change my Quickbooks Pro 2005 Payroll PIN?

I have Quickbooks Pro 2005. I use it to do my business accounting. I am trying to change the PIN that I use to submit payroll information. I have looked all through the built-in help with no luck.

800-624-2106

AP Technology Releases SecureCheck-Pro 7
CARLSBAD, Calif.----AP Technology, a leading provider of MICR check printing solutions, announced today the release of SecureCheck-Pro 7. SecureCheck-Pro 7 is an upgrade to the company’s flagship SecureCheck solution and brings to market the next-generation features and system intelligence for Business Check Printing security and efficiency.

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Free Quickbooks Accounting Software - Quick Books Pro 2010 FREE!

accounting ronald hilton
George Brown College students?

anyone has the following text books:

Course name: Information system concepts and analysis
This course has two textbooks:
1) Management information system for the information age, Third Canadian Edition by Haag, Cummings, McCubrey, Pinsonneault, Donovan; Publisher: McGraw Hill
2) Exploring MS Access 2003 Comprehensive, Revised Edition by Grauer and Barber, Prentice Hall.

2. Course name: Managerial Accounting
Name of the textbook: Managerial Accounting, Creating value in a dynamic business environment, 7th edition, by Ronald W. Hilton; Publisher mcgraw hill irwin.
3. Business Statistics, 7th edition by Groebner, David, shannon, and patrick

Lets make a deal if you live in toronto or have taken this course contact me thanks......

get the books via www.textbookw.com

cheap textbooks

January 2010 Connecticut Business Starts
The following business starts were recorded in January 2010 by the Connecticut Secretary of the State's Office. When available, the name of a registered member or officer is given.

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cost accounting managerial
Direct? or Indirect cost?( Managerial accounting)?

Cost: Lab tests by outside contractor
Cost Object: A particular patient

is this direct? or indirect cost?

In practice it would depend upon how the enterprise desires to treat it - it seems probable though, that it would be most relevant to treat it as a direct cost of sale.
From an accountancy point of view it is of value to link the direct cost to the income it generates.

This is consistent with the actuality - that is, the amount of lab test cost/s is directly proportionate to the sold service to the patient and is therefore amortisable into the costing for the sold service/s. A percentum can be allotted in the costing (e.g. for every dollar of sales, X cents is the cost of test).

But then, for a high turnover enterprise where direct allocation is not important (as it may be for taxation reasons as well as costings, in smaller enterprises) - it may be treated as an overhead (indirect) expense. Some might still argue that as it is a cost incurred only in direct proprtion to sales, that it is not therefore a fixed or direct cost - and i would agree.

I am simply stating that some firms find it simpler to treat it as an overhead the same as any other wage account.

BUT whatever stance is taken, this must be consistently applied year by year, and any change to the accountancy approach must be reported in annual returns.

ReneSola Announces Management Appointments
ReneSola Ltd , a leading global manufacturer of solar wafers and provider of solar module original equipment manufacturer services, today announced the following management appointments:

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Cost and Managerial Accounting Intro

managerial accounting eric

A SYSTEMS APPROACH IN ANALYSING MATERIAL CONSTRAINING FACTORS TO construction project management SUCCESS IN NIGERIAN

A SYSTEMS APPROACH IN ANALYSING MATERIAL CONSTRAINING FACTORS TO CONSTRUCTION PROJECT MANAGEMENT SUCCESS IN  NIGERIAN.

By; Dr. C.C Nwachukwu ANIVS, FCRMI, Lecturer, Project Management Technology Department, Federal University of Technology Owerri, Imo State, Nigeria, West Africa. GSM; 08033289740, E-Mail; nedumchisma@yahoo.com

ABSTRACT

The study analyzed materials as an integral part of the direct and indirect factors that constrain project management success of public and private sector construction in Nigeria using systems approach. This study is very relevant as any constrain to the success in the construction sector has a significant effect on the overall economic growth of the nation. Data analyses were computed based on the subjective data on the factors Relative Relevance Indices of Attributes. Factor analysis was used to collapse the factors to fewer but interrelated variables. The result of the analysis of material factors will lead to the development of a computer model and advanced project management software that will include materials as an efficient instrument in tracking projects alongside with Time and Cost variables.

KEYWORDS

Material Constraining Factors, Systems Relative Relevance Attributes, Public and Private Sector Construction.

INTRODUCTION

Construction industry could been ranked among the top four out of about twenty economic sectors in terms of inter-sector linkages. The importance of this sector as an agent of development is enhanced by its ability to provide gainful employment for the teeming population of the nation. To this end therefore, the strategic importance of the construction industry in a growing economy like Nigeria cannot be over-emphasized as we have seen that the industry account for a significant percentage of the nation’s Gross Domestic Product and employs a substantial fraction of the labor force. Construction industry is a major index as a factor in the social and political integration of the society and ranks as one of the major budgetary areas of developing economies. The construction industry is proven to be the corner stone and bedrock of rapid economic growth of any nation (Bhavesh, 2006). This is underscored by the fact that capital projects in Nigerian budget mostly represent over 40% of the total projected expenditure in both Federal and state governments annual budgets and also in the nations various development and rolling plans. The product of construction industry is desired not for the services  they create as commerce and industry have a structural base. According to Eric, 2003, “the industry is likely to remain a major area of development activity as the need for the provision and replacement of infrastructure become more relevant  in the years ahead”.

This study is limited to material factors constraining construction project management success in Nigeria. Project success constrains as a system are inter-related and have significant effect individually and collectively on both public and private sectors of the economy.

OBJECTIVE OF THE STUDY

The study is aimed at identifying and analyzing material constraining factors to project management success of both private and public sector construction in Nigeria. The analysis will reflect the strength of each factor and the rate at which it influences failure, abandonment and collapse of construction  projects in Nigeria. The result of the findings if implemented is expected to reduce the rate at which projects fail in Nigeria if not eliminating them.

METHODOLOGY

Data for the analysis was through direct and indirect sources. A five point-Likert scale format was used in the questionnaire design. Factor analysis was used to collapse the variables to fewer but interrelated variables. The ANOVA was used to confirm the differences in the level of relevance of these factors constraining project success. The analysis focused on cost related constrains  in the construction of Ten building structures housing Imo State secretariat Owerri by Ten different construction firms, the construction of Owerri Onitsha road that is still ongoing and the construction of Oceanic bank building along Douglas road Owerri, all in Eastern Nigeria, West African Sub-Region. The analytical formula is RRId = ?ci/CI x 100.

HISTORICAL BACKGROUND OF THE STUDY

The modern concept in the history of construction industry increased the responsibilities of human resource management especially in materials procurement which is evidenced in increased contractor's managerial role. The Latham Report in 1994,  the Egan Report in 1998, and the result of the Rethinking Construction  helped in galvanizing the pace of change in materials substitution in the construction industry. The report called for a 'radical change to the processes of specifying material requirements in  construction project design, procurement process, storage and instalation. The four 'key elements' of product development, project implementation, partnering the supply chain and the production of components should be subject, it said, to innovations resulting in integrated project processes. Most importantly, the report urged the development of a culture of performance measurement in material handling so that the efficacy of such innovations could be evaluated and continuous improvement promoted. Seven targets were set relating to improvements in cost, time, predictability, defects, accidents, productivity in material management.

The evolution of sophisticated construction materials and the effect of communication in enhancing marketing strategies is a possitive index in its avialability. However, the available construction materials to choose from are many; some of the materials are new and have not been tested. Stringent rules are now being required, for example to meet environmental protection law prescriptions. Methods of construction have changed over the years from mere lying of bricks and blocks to sophisticated complex concrete and steel constructions both in-situ and fabricated. These methods require different management systems approach than the conventional methods could cope with.

THE IDENTIFIED MATERIAL RELATED FACTORS CONSTRAINING PROJECT MANAGEMENT SUCCESS IN PUBLIC AND PRIVATE SECTOR CONSTRUCTION IN NIGERIA ARE:

1. *Incomplete detailed information on material installations and functional life of  the materials.

* Delays in material procurement caused by the client, project team, and or contractors and its implications on construction cost and time.

*Lack of detailed information on weather effects of some construction materials and their implication as regards installation, duration, maintenance capabilities especially foreign procured materials.

* Effective and efficient management of procured materials on site, Inadequate or incomplete specification on design and documentation.

* Initial cost estimating errors on materials type, quantity and quality.

*Attitude of project team and client towards material control and monitoring on site during construction.

* Forecasting the inflation effect on materials at the conception and planning stages.

* High cost of basic building materials and their effect in causing construction projects delays and abandonment.

* Bribery and corruption as they affect cost of materials procurement.

*Inadequate established and systematic materials Cost control procedure for the project design and construction.

* Computers rarely employed for measuring the weight and quality of materials. *Critical and crucial issues like personnel motivation that will affect materials design, procurement and storage are not usually considered and clearly specified. *Lack of adequate information on health implications of some materials on end users and handling process during installations.

* Minimising specialist work, promoting Prime cost on provisional sums for some materials.

* Specialist work on some material installation are not well defined early in the project.

* Clarity of design brief and minimum design gap on materials.

THE RESEARCH MODEL

The model in figure 1 consists of direct and indirect variables developed as a holistic approach to solving the problem of project management success constrains in the construction industry in Nigeria. This study is based on the analysis of only material factors as a subsystem of the general presented system. The arrows in the model show how the variables interrelated and are intra-dependent. To this end, it shows that any factor that affects a subsystem variable will invariably affect every other factor from that system and also from other subsystems.

TIME SUBSYSTEM

SUBSYSTEM

CLIENT SUBSYSTEM

SSSSUBSUBSYSTEM

PROJECT MANAGEMENT SUBSYSTEM

SUBSYSTEM

ENVIRONMENTAL SUBSYSTEM

CONSTRUCTION

SUBSYSTEM

DESIGN  SUBSYSTEM

SUBSYSTEM

QUALITY SUBSYSTEM

SUBSYSTEM

Figure 1 THE CONSTRUCTION PROJECT MANAGEMENT SUCCESS INTERACTIVE MODEL composed by the researcher

Principal Factor Loadings of Public and Private Sector in the Materials Subsystem Variables and there RRIA.

Table 1 Factor loadings

Common variables

Public

Private

Factor 1

Fluctuation in the cost of materials

Inadequate storage facilities, ambiguous material specification during design.

Initial material cost estimating errors

Attitude of project team towards material wastage.

Forecasting the cost effect of a decision before implementation on material substitution

Inadequate established and systematic  material cost control procedure

Critical and crucial issues affecting materials not considered

Inadequate planning on alternative materials

Minimizing specialist work prompting provisional and prime cost sums on materials

Clarity of design brief and minimum design gap

0.51628

0.66515

0.54089

0.61521

0.60849

0.66303

0.64086

0.65712

0.61150

0.49967

0.50220

0.69005

0.55518

0.5782

0.64619

0.66445

0.63301

0.67830

0.54593

0.48571

Unforeseen circumstances

High interest rates on loan facilities for material procurement

Bribery and corruption

Minimizing claims through thorough understanding of contract conditions

Ability of design to achieve economy on materials

Frequent change orders/variations with financial implications

Construction delays

Cost control during design stage

0.58869(4)

0.47275(3)

0.37300(5)

0.50749(3)

0.54449(2)

0.54988(2)

0.52056(2)

0.46890(2)

0.56538(2)

0.54608(1)

0.61019(1)

0.50174(1)

0.69529(1)

0.585509(1)

0.595144(1)

0.54362(2)

0.55482(2)

0.51020(2)

Source: Computer Analysis of the study

ANALYSIS OF THE VARIABLES

In the material subsystem, three principal factors having eigenvalues greater than 1.0 were obtained in both  public and private sector projects For the purpose of extraction of relevant factors for computation, only those factors greater than 0.400 were considered. In addition, the various factors were given descriptive names on the basis of their most basic variables that is, variables with the highest loadings. It will also be noticed that a number of variables load higher than one. For the purposes of loading extracted factors, variables were grouped with factors where they have the highest wieght.

Table 2 Eigenvalues greater than 1.0, percentage variance and cumulative percentage

A – PUBLIC

B – PRIVATE

Factors

Eigenvalues

Percentage variance

%

Cumulative percentage variance

Eigenvalues

Percentage variance

%

Cumulative percentage variance

%

1.

2.

3.

4.21470

3.42151

2.36102

17.7

10.1

8.3

17.7

29.4

51.1

3.61363

3.16195

1.45613

23.1

14.1

5.8

23.1

54.4

61.3

Source: Computer Analysis of the study

Table 3 (A,B) Variable groupings into dimensions using principal factors

A – Public sector construction

Factors                  Extracted variables and their loadings                       No of variable L/D                   Factor Name

Per factor

1     M2         M5          M6       M7         M8       M11         M13       M14         10                     Thorough detailed scope definition,

1. 0.51628 0.66515 0.54089 0.61521 0.60849 0.66303 0.64085 0.65712                               adequate planning & attitude

M15         M16                                                                                                            towards material management

0.61150  0.49967

2           M1         M3           M17           M1          M198                                        5         Effects of material procurement and

1. 0.52056   0.46898   -0.54449   0.54988   -0.56538                                                    storage, delays & uneconomic use.

3        M9               M12                                                                               2                   Fluctuations on the cost of materials

1. 0.47275     0.50749                                                                                                     and variance in quality.

4       M4                                                                                                     1                   unforeseen circumstances

0.58869

M10                                                                                                1           Bribery and corruption in procurement processes

0.37380

Sources  Computer analysis of the study

B – Private sector construction

1. M2            M4          M5         M6         M7      M8      M9      M10            16                Detailed scope definition & planning
2. 0.50228  0.54608  0.69005 0.55518 0.65782 0.4619 0.61019 0.50174                            material procurement and storage

M11      M12          M13       M14       M15        M16   M17        M18

1. 0.66445 0.69529  0.63301 0.67830  0.54593 0.48571 0.58509 0.59594
2. M1             M3         M19                                                                 3     Cost implications of variation in material variations
3. -0.54362  -0.55482   0.51020

3      -               -               -               -               -               -        -               -                   -

Source: Computer Analysis of the study

RESULTS OF FACTOR ANALYSIS OF PUBLIC MATERIAL VARIABLES

It is interesting to see that 4 of the 6 attributes defining this dimension are related exclusively to the early definition stage of the project, while only two relate to the other stages. These are “Fluctuations in materials cost” and “Attitude of project team towards material management”. The second attribute is also very important in the definition stage since the attitude of the client and the project team towards material management at the early stage has marked effect on the achievement of the project goal. Attitudes of the client and project team towards material management are very important. Fluctuation in materials cost is another variable that load in the first sector. Materials could be bulk purchased, payment and procedure for fluctuation payment or non-payment incorporated early in planning at conceptual stage. The second factor identified as “cost effects of materials variation, delays and uneconomic  material specification in design” is defined by 5 variables, 2 of which load positive while 3 load negative on the factor, 4 variables have factor loadings exceeding 0.5000 while 1 variable loaded less than 0.5000. These variables include; frequent change orders, delays, claims minimisation, design economy and design stage cost control. This factor accounts for 12.1% variance explanation with Eigen value of 2.24. Frequent change orders and variations in materials procurement loaded fourth.Factor 2 variation have direct and indirect effect on material wastage. Direct, in that quality of materials, labour and plant are affected or altered indirectly, it has also a disruptive effects on the schedule which further affect cost. This variable, endemic in the Nigeria public sector construction, has its root in the inadequate scope definition during the conceptual stage and therefore, relate to the factors as described above.

Extracted Variables and their loadings

No of variables L/D per factor

Factor Name

1.

M15 0.64065

MC16

0.58676

M17

0.76118

M18

0.73077

M 19

0.68088

5

Detailed specification of material requirement & early supply planning.

2.

M1

0.62969

M2

0.76537

M3

0.59939

M5

0.59243

M13

0.51608

M14

0.68307

6

variations on quality specifications of materials

3.

M6

0.76067

M7

0.53492

M8

0.60394

M9

0.67423

4

Interest  rates on loan for material supply & efficient control on use.

4.

M11

0.57173

M12

0.76432

2

Initial material cost estimating errors

5.

M4

0.61636

M10

0.57842

2

Unforeseen circumstances & bribery & corruption

Table 4 A – Public Sector factor Analysis

Source: Computer Analysis of the study

Results of Private Sector material subsystem factor analysis

In the private sector materials subsystem, 5 factors accounted for 62% of the variance explanations in the total data input extracted.  For details of their factor loadings, Eigenvalue of proportion of variance explanation per factor,  greater proportion of variance is therefore accounted for by the factors in the private sector than that in the public sector construct5ion.

The Dominant factor, one, explains 33% of the variance as against 27.7% in the public sector. But unlike the public sector, which has 10 variables, this factor has 16 variables loaded on it out of the 19 variables. The public and private sectors have 10 common variables loaded on the dominant factors. Material planning during design stage loading higher in the private sector shows the importance of this variable in this sector. Effective material planning at an early stage is a pre requisite to staying within budget once all the factors affecting cost during execution stage will be taken into account and provisions made for them. There is however, tendency of project team members to deliberately underestimate the material content of a project in order to get a go ahead approval from the authorities as a quotation strategy. From the private sector factor analysis, the second factor has three variables loading on it, 2 negatively and one positively. The negatively loading variables are “frequent change orders/variations of materials with its financial implications” and “construction delays” based on unavailability of ordered materials. The positively loading variable is “material planning and control during design stage”.

Table 4B– Private Sector Factor Analysis

Factors

Extracted variables and their loadings

No of variables L/D per factor

Factor Name

1.

M6

0.79724

M7

0.57957

M8

0.56280

M10

0.62932

M11

0.53132

M12

0.56207

6

Systematic materials procurement and control procedure

2.

M15

0.69186

M17

0.71451

M18

0.57367

M19

0.77705

4

Detailed scope definition of material requirements & early design cost planning for material shortage

3.

M1

0.68853

M2

0.83431

M3

0.80075

MC9

0.52054

4

Cost effects of fluctuations, delays and variations in the use of materials

4.

M5

0.55708

MC13

0.75255

M14

0.53159

3

Poor material inventory control

5.

M4

0.57955

M16

0.66652

2

Weather effect on materials

Source: Computer Analysis of the study

The first part of table shows the comparison between the public construction sectors in the terms of the principal loadings of various variables. The 10 variables common to both sectors are loadings on factor 1, which show that the loadings are generally similar in 14 out of 19 variables. The second factor is defined by 6 variables, one loading very high and the other 5 moderately high. The variables that load highest are fluctuations in materials labour and plant costs (inflation). The variable is a very significant factor causing materials constrains in the public sector construction. The next highly loading variable is inadequate planning followed by frequent change orders and variations with their financial implications. Construction delays and inadequate or incomplete design have approximately equal loading 0.59939 and 0.59243 respectively. The variable that is least loaded on this factor is the critical and crucial issues that will affect materials supply and use. Factor 2 is therefore termed “inflation, variations and poor planning”. Comparing this with corresponding factor 2 (principal factors), 5 variables are common to both factors. Factor 3 has four variables loading on it against 2 variables loading on factor 3 using principal factors. The four variables include initial material cost estimating errors, attitude towards material wastage by project personnel, ambiguous materials specifications during design and interest rates on loan for materials procurement. The variable common to the two factors is high interest rates. This factor is therefore termed “interest rates, attitude, and efficient cost control “The fourth factor is defined by only 2 variables, inadequate established cost control procedure on material procurement. The corresponding factor 4 using principal factors has only one variable loading on it (unforeseen circumstances) thus; there is no common variable between the two factors. The fifth factor is also defined by 2 variables, unforeseen circumstances-likelihood of unexpected events in the employers risk area and bribery and corruption. It is interesting to note that the corresponding factor 5 using principal factors, has bribery and corruption as the only variable loading on it.

CONCLUSION

Material s, I suggest should not be regarded as having been taking care of by cost. The four direct factors of Time, Cost, Quality and Materials management are interwoven, interrelated and should be checked as critical factors that constrain success in any construction project management irrespective of the magnitude of the construction work. We know as project stakeholders that delay in material procurement, inventory practices etc could prevent the commencement of a critical activity and invariably affect cost in all its ramifications. In a long run, health implications of a construction material may affect the value of a constructed property like the use of asbestos material in roofing and ceiling. Also, the inability of analyzing weather implications of some local and imported materials will definitely affect the maintenance of the constructed structure. Some materials expire during the implementation process of the construction project and the replacement will definitely affect construction time, cost and quality of work.

RECOMENDATIONS

1. Materials specification and analysis should be seen as a significant index in appraising project proposals. There should be no ambiguity in material specification in project design especially for complex prosals. Project stakeholders should see  material factors as part of direct factors that must be watched carefully for project implementation to succed. The result of this analysis of materials factors will lead to the development of   a computer model and an advanced construction project management soft ware that will include material handling and substitution as an efficient instrument in tracking projects alongside with time and cost

Computer based project management techniques should be used in analysing cost schedules, tracking and smoothing of activities during project executions.

A project manager should be appointed early enough in the project life cycle to handle the management from inception to completion. This project manager, in conjunction with the design team members should define the scope of the works in detail in terms of material alternatives.

REFERENCES

Ashley, D.B and Lurie, L.S. (2004) Determination of Construction Project

Success, Project Management Journal, Vol. XVII No. 2. PP146

Baker, M .L (2002) Materials Management  Systems Analysis and

Project Management, Vol 4. No 8.PP  45.

Bhavesh, .M. P (2006) Project Management Strategy Financial Planning,

Evaluation and Control, New Delhi, PTV Ltd.

Cleland, D.I. and King, W.R.  (1988) Project Stakeholders Management, Project

Management Journal, Vol. 17, No.4. PP 36

CLELAND, D.I (1986) Project management Handbook, Second Edition, New

York, U.S.A Van Nostrand Reinhold, PP 964

Dugun, S.L. and Barry, B.U. (2006), Construction Planning Effects. Journal of

Construction Engineering and Management. Vo. 115 No. 1 PP 70.

Eric, C.E., (2003) Facility Design and Management Hand book, London,

McGraw-Hill, PP 531

Harold, K. R (2004) Project Management A Systems Approach to Planning,

Scheduling and Controlling, New Delhi, India. S.K Jain Publishers,pp68

Macomber, E.A (2008) “Reforming Project Management”

http:///weblog.halmacomber.com// 5/4/2006

Milosevic, D.Z. (2007) Systems Approach to Strategic Project Management.

International Journal of Project Management. Vol.7 No.3. PP57

Ninos, G.E. and Wearne, S.H (2005) “Control of Projects During Construction”.

Proceedings of Institute of Civil Engineers, Part 1, 8th August 80

Engineering Management Groups:PP 913.

Nwachukwu, CC (2008) Analysis of Factors that Constrain Project

Management Success of Public and Private Sector Construction in

Nigeria, An unpublished Ph.D Thesis, Federal University of

Technology Owerri.

Roy, P.D. (2005) the Construction Project Manager and Human Group Theories Cost Engineering, vol. 31 No. 7PP10

About the Author

Treasury appointments, March 9
A roundup of the latest CFO and treasurer moves from around the region.

[phpzon]managerial accounting eric,20[/phpzon]
Data Security is an Executive Issue

accounting working papers
How is internal goodwill belonging to a subsidiary treated upon its decline of value in the consolidated BS?

In accounting for Business Combinations, consolidation at acquisition date. What is the Journal Entry or Eliminating Entry in the Working Paper?

Impaired goodwill should be written off as soon as the impairment becomes evident. Therefore on the date of acquisition, the goodwill should be credited and retained earnings of the subsidiary debited. The goodwill will not appear on the consolidated balance sheet.

Deadline set to close Chicago nursing home
State authorities said today that they plan to shut one of the state's largest nursing homes by Friday and are working to transfer out the remaining 76 residents.

[phpzon]accounting working papers,20[/phpzon]
Fairvalue #442 Fair Value Accounting Standards

accounting information decisions
What are the differences between financial and managerial accounting? Why does financial accounting have to ?

comply with GAAP but managerial does not? What types of decisions can be made using financial accounting information? What types of decisions can be made using managerial accounting?

Financial accounting is used for tax and investment purposes, therefore it has to be accurate description of current business accounting.

Managerial accounting can consider future uncompleted jobs as paid even though the money hasn't been received and the job hasn't been completed. It isn't used for tax or investor purposes, it is used to understand future finance of a company.

Imagine you sell your bike to a trustworthy friend for $50. He will pay you next week and you can count on him to do what he says. You would then be able to commit that $50 for something in the future because you know he will pay. That would be managerial accounting.

Now if you wanted someone to invest in a project with you today, under GAAP rules you can't say that the $50 is already in hand even though you know it will be coming in the sale hasn't been completed yet. Telling an investor that you have the $50 bucks from the sale would be illegal.

Some times companys are allowed to use the managerial type of accounting, ENRON was counting the revenue of future projects as profit, problem with that was the projects were getting cancelled and the money didn't actually get paid.

Hope that helps, I am 99% sure that I explained it correctly, Good luck.

Peralta audits aim to clean up district
Several outside groups are trying to unravel the inner workings of the Peralta Community College District, which has been beset by scandal and sloppy accounting.

[phpzon]accounting information decisions,20[/phpzon]
Accounting: Definitions and Basic Concepts

cornerstones managerial accounting

Put your Accounting Under Accountants Control

Accounting is the backbone of the business financial world, it involves organizing, maintaining, recording, and analyzing financial activities. It is an essential and integral part of financial practices around the world, which involves much more than just book keeping, it is an information system which allows business owners analyze and interpret financial data which helps guide important decisions, in other words, accounting Is the World Wide Language Of Business.

Accounting is perceived by many entrepreneurs to be boring because it's associated to counting, when it really is based on the concept of a financial transaction which is an important source of information for others, such as affiliates, investors and stock holders.

The purpose of accounting is to assess the financial position of the organization and accordingly engage in future financial planning. You may think that all accounting is the same, when in fact, every organization has different needs so it is highly customizable and adaptable to the type of business it is applied.

A few types of these variations are:

Financial accounting is generally thought of as a very precise science and its required to deliver accurate financial statements.

Managerial accounting is concerned with providing information to managers that is, people inside an organization who direct and control its operations. In this type of accounting the manager is responsible for Accounts Payable, Accounts Receivable, Billing, Payroll, audits of operational process and procedures.

The fact is that good accounting is one of the cornerstones of successful businesses and as such, it plays a key function in their continuous growth. An important part of accounting is identifying or specifying the entity for which the financial statements are being prepared.

Accounting is a demanding profession that provides its professionals and clients with both economic and psychological rewards when it is properly executed. It is true that a basic knowledge of accounting is practically indispensable to anyone involved in business in order to understand the reports given by an accountant.

The reality is that many people discover that at the root of all accounting is the process of book keeping. For most entrepreneurs, accounting is hardly a favorite task but it's an important job. That's why it is a good idea to let accountants handle your accounting tasks. Just think of it as using the right tool to complete a necessary assignment. A related analogy would be 'getting a computer technician to fix your car', as you can see, it doesn't make any sense.

The thought of hiring a CPA to do the accounting job is widely accepted but modern and savvy small business owners know that these services are not cost effective. Another not so popular but very convenient option is to outsource all this work to an accounting company. Many of these accounting companies will let you upload your financial information through software platforms which give you the ability to understand how every form of data is being organized and utilized to generate monthly, quarterly and yearly reports as well as tax return information. A good example of this platform is found at the Acountiviti website.

As previously stated accounting is the basis for business analysis, business decision making and is more than just memorizing terms and procedures; it's a whole new way of thinking about finances.

About the Author

Accountiviti provides valuable managerial accountant controller services for your business. Get accurate information about accounting outsourcing case studies and learn what Quickbooks can do for you.

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Cornerstones of Financial and Managerial Accounting, 1st Edition

financial accounting information
Financial information systems can serve many functions in a business.?

How might you use them in your business? Which do you think you would need in the beginning—financial accounting information or managerial accounting information? How might financial information change the way you run your business?

Systems are the success key to today's business world. If you can "step out" of a business and that business still runs due to all the systems you have in place (i.e...McDonalds), then you have a "B" business and that's success in today's business world.

Information rules the day..........CORRECT information rules the day.

Evogene Reports Fourth Quarter and Annual 2009 Financial Results
REHOVOT, ISRAEL--(Marketwire - March 10, 2010) - Evogene Ltd. (TASE: EVGN) announced today its financial results for the fourth quarter and year ended December 31, 2009.

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1 - Financial and Managerial Accounting Information

accounting accounting carl
How did my wife's emails show up as being in my account?

Yesterday, my wife updated her Yahoo mail page. When she did this, she lost all of her current emails. Now, I get a message under my log on page (can choose Carl or Patty), I have a message that I have 208 unread messages under my log on name. That's how many my wife is missing. However, I can not access the 208 message so I can send them back. Any suggestions?

sorry...no suggestions...hopefully something below will resolve your problem...

Use the website first..has a live chat option..

Customer care for US.

http://help.yahoo.com/l/us/yahoo/mail/or...

Yahoo customer service telephone no 866-562-7219 or 408-349-3300

Customer care for UK & Ireland.

http://help.yahoo.com/l/uk/yahoo/mail/or...

Yahoo customer service telephone no 0870-352-2000

In addition...if needed...try below...something should work

If you need technical help contact customer care at:

Yahoo! Mail Technical Help Form

http://help.yahoo.com/l/us/yahoo/mail/ya...

Yahoo! Customer Service
866-562-7219
408-349-3300
408.349.1572

The E-Mail address for Yahoo!customer care is
cc-advoc@yahoo-inc.com
or
y_answrs_team@yahoo.com(e missing on purpose in answrs)

Hope some of this info helps!!!

Game info from Indians’ win over Diamondbacks
Indians (3-0) 3, Diamondbacks (1-5) 2 Hits: Center fielder Michael Brantley was a home run short of the cycle, accounting for three of the Indians’ seven hits. He scored a run, drove one in and started the game with a triple off Arizona starter Rodrigo Lopez. … Right-hander Yohan Pino, who was acquired in a trade [...]

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Carl L. Young Part 1 Finance and Accounting Made Simple