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Economics, Accounting & Business: Post your doubts here!

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Mohammad Taymur

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fahadzaidi96 said:
Can anyone explain me the link between characteristics and function of money...

Secondly explain me the link between forms and function of money
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charateristics of money are portability , divisibility . uniform , recognisable etc
and functions are medium of exchange , unit of account , store of value , and standard deferred payment

In order to carry out the function money must possess the characteristics and must be limited in supply

hope this might be helpful
 
parthrocks

parthrocks

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Mohammad Taymur said:
can u explain me a bit
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see the total cost of producing 400units(calculate from the question) and then we know that total cost is 100000 and minus 4000 as this is to be excluded from the cost as its the money recived right!!and thus 100000 divided by 400 units will give u 240 dollars....hope it helps...so giving ur mcq paper as level na...22nd may???
 
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Mohammad Taymur

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parthrocks said:
see the total cost of producing 400units(calculate from the question) and then we know that total cost is 100000 and minus 4000 as this is to be excluded from the cost as its the money recived right!!and thus 100000 divided by 400 units will give u 240 dollars....hope it helps...so giving ur mcq paper as level na...22nd may???
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yes .. hw was ur business xam
 
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Mohammad Taymur

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parthrocks said:
hey everyone i want to ask u one very urgent doubt....plzzz reply asap....everyone....
View attachment 9804

SO..DO WE HAVE CASH BUDGETS IN AS LEVEL THIS EXAM FOR ACCOUTING????????
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  • Review cash flow reports and budget versus actual reports from prior periods. To develop reasonable budgets and forecasts, past data can be valuable to identify trends and singularities. Research any unusual past variances between actual and budget numbers, and adjust your budget numbers accordingly. Typically you do your budget first and use that for your first forecast. Once time progresses and financial situations change, so does your forecast.
  • 2
    Start the analysis process with a beginning balance in cash that has been reconciled. Take a look at the cash balance in the bank statements to make sure the accounting balance of cash makes sense. If the last bank reconciliation showed a deposit in transit, you should see the transfer in the following bank statement, and, if not, you need to do some research. Also, review investment statements to verify that the balances on statements are the same as those in the accounting records.
  • 3
    Put the trial balance of your last closed period in a spreadsheet. Next, add months' names to each column to the right -- that's your budget format to be filled out with numbers derived from your research into the past and from questions about the future. You can consider monies that come in on receivables as cash inflows and cash payments on payables as cash outflows.
  • 4
    Look for trends and relationships among accounts. If you're expecting sales to increase by 10 percent over last year's, what other accounts should also be increased by 10 percent or even more? Most likely cost of good sold will increase along with sales commission expense. If you are forecasting a downturn in sales in the coming months, what expenses will need to be cut so that the firm will remain solvent?
 
parthrocks

parthrocks

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Mohammad Taymur said:
  • Review cash flow reports and budget versus actual reports from prior periods. To develop reasonable budgets and forecasts, past data can be valuable to identify trends and singularities. Research any unusual past variances between actual and budget numbers, and adjust your budget numbers accordingly. Typically you do your budget first and use that for your first forecast. Once time progresses and financial situations change, so does your forecast.
  • 2
    Start the analysis process with a beginning balance in cash that has been reconciled. Take a look at the cash balance in the bank statements to make sure the accounting balance of cash makes sense. If the last bank reconciliation showed a deposit in transit, you should see the transfer in the following bank statement, and, if not, you need to do some research. Also, review investment statements to verify that the balances on statements are the same as those in the accounting records.
  • 3
    Put the trial balance of your last closed period in a spreadsheet. Next, add months' names to each column to the right -- that's your budget format to be filled out with numbers derived from your research into the past and from questions about the future. You can consider monies that come in on receivables as cash inflows and cash payments on payables as cash outflows.
  • 4
    Look for trends and relationships among accounts. If you're expecting sales to increase by 10 percent over last year's, what other accounts should also be increased by 10 percent or even more? Most likely cost of good sold will increase along with sales commission expense. If you are forecasting a downturn in sales in the coming months, what expenses will need to be cut so that the firm will remain solvent?
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Hey bt this is all what u know.....i dnt even know th basics as we have skipped this topic in our school...so its there na..pakka
 
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