Category: Accounting

Specialize in Accounting and advance in your career prospects and CGA designation

A Jack of all trades is important to the quick demands on many businesses but Jack is a master of none. Although it may seem better to have a broad knowledge of many things, having a specialization can have its benefits, including helping in your decision-making. Career-wise, specialization does not mean that you do not have plenty of knowledge but it does require you to be an expert in at least one area. This gives you more job prospects and greater chances of getting noticed by recruiters. Strategic management programs are gaining popularity as employees become empowered to make strategic decisions, as they can one day become leaders of the company.

Realizing the potential for this area, Centennial College created a graduate certificate program in one of the popular areas in business: Accounting. The Strategic Management – Accounting (2844) program is based in accounting principles but with managerial leadership in mind. The School of Business deploys one of the best professors to teach the courses, contributing examples from their personal experiences to add much interest and value for students. The benefits of enrolling in this one-year program are described below:

Accounting graduates from universities and colleges can specialize in this program and increase their chances in getting hired as well as expanding their job prospects.

Students undergo an intensive training with theory, case studies, simulations and technical skills sought out by employers in the industry.

Upon graduation, learners can find employment in various industries in addition to financial institutions, including public administration, government offices, manufacturing industries, and public accounting firms.

As financial managers, graduates can become entrepreneurs and establish their own accounting firm.

Students canstart working on theirCGA Designation by moving up to level four of the requirements by the Certified General Accountants Association of Canada.

Students advance in their education, while progressing with their industry designation — a win-win situation where students spend their time resources wisely. Strategic management in accounting involves more than balancing books. The program teaches the following managerial perspectives:

A broader and more in-depth look into budgets, with lessons on capital budgeting, profitability analysis, and strategic accounting decision-making process

To define objectives and plan strategies for a multiplatform businesses by studying the five phases of strategy-making and strategy-executing process

Calculation and preparation of consolidated financial statements for non for profit and government organizations

Control the audit plan and audit program in accordance with the Generally Accepted Auditing Standards

Learn how to make decisions and apply actions in an ethical manner and in compliance with industry standards

Centennial College students will graduate with a positive outlook on their career in accounting. They are more prepared than ever to enter the workplace with strong knowledge of day-to-day operations and strategic view of the accounting function of a business. The Strategic Management – Accounting program also offers an articulated program for some graduates who want to pursue a degree with Centennial’s university partner.

Litigation Accounting & CPA Expert Witness Services – Houston TX

Litigation Accounting & CPA Expert Witness Services in Houston TX

Does your Houston litigation project require a top notch CPA accounting expert?

J.M. Trippon & Company CPAs provides accounting expert services in both consulting expert and testifying expert projects in the Houston area and across Texas. We assist law firms and their clients to assess business and litigation issues and analyze alternatives. We have the experience to take on tough projects and succeed where other accounting experts have failed.

For almost 30 years, when successful law firms and business owners need an accounting expert that can figure out what is going on with the numbers; and communicate sometimes technical concepts to a jury in language that they will understand, our firm has made a difference.

Whether you need an accounting expert that will serve as a consulting or testifying expert, or require a business valuation for estate, divorce, or dispute purposes, we can help. We have specialized expertise in a variety of industries, and have been qualified as a forensic accounting experts in both Federal Court and State Courts in Texas, Oklahoma, California, Nevada and Florida

We pride ourselves in our ability to assess what happened with the money trail and to explain complex accounting concepts in terms a Judge and Jury can quickly grasp. We think on our feet and know how to defend our opinions in the toughest depositions or cross examinations, without blinking.

Representative litigation expert projects that we have been retained for as consulting or testifying accounting experts include:

Bad faith insurance settlement
Bankruptcy
Breach of contract
Breach of fiduciary duty
Business interruption claims
Business valuation
Corporate and partnership dissolutions
Damage calculations
Equitable Divisions in Divorce
Embezzlement
Eminent domain valuation disputes
Estate trust valuation and analyses
Forensic and Investigative Accounting
Fraud
Insurance claims
Intellectual property damages
Inventory / stock valuations
Labor and employment disputes
Lost earnings on court held trust funds
Lost profits
Lost rental calculations
Marital dissolutions
Minority shareholder oppression
Personal injury claims
Real estate damages
Shareholder disputes
Trade secrets
Wrongful death claims

If you require a Litigation Accounting Expert, we can help. Call us at 713-661-1040 TODAY!

Ubs Accounting – Ubs Accounting For Sma Industries And Alternatives

UBS Accounting in Malaysia is one of the biggest Accounting Software firms throughout south east Asia, suitable for any small and medium size industries, but for medium size company, there are few alternatives that works better! Compare to UBS Accounting, alternative accounting such as MYOB Accounting and Mr. Accounting seems to enjoy more user friendly experience.

However, all the above mention software is not suitable for company with the development team, because the source code based accounting software will be a better choice. 5 Reasons to choose source code based accounting:

Reason #1 – Save tons of client licenses.
Source code based accounting always comes with royalty free and re-brand-able rights, so the company can expand as many clients as they like without further paying any license fees.

Reason #2 – Business process highly automated.
With developer that able to modify the source code, they can basically design, modify and integrate the software to the company advantages. The power of customize software allowed highly automation between the different sub system, such as human resources, inventory, point of sales, warehouse and e-commerce. All data can be passed between the systems without human intervention, provide highest automation possible and better security control.

Reason #3 – Faster integration.
For general integration, this can happen in as fast as 24 hours through Stored procedure user interface! There is no need to export and import data between systems, all sub systems can pass data easily through stored procedure.

Reason #4 – SQL database power.
While another accounting system still using dbf files as storage, the source code based accounting mostly support SQL database, this give the company highest scalability and powerful integration convenient. For medium size company, the database can store life time data, up to terabytes of financial data without clearing!

Reason #5 – High expandability.
Developer can prepare any reporting requested by the company without limitation, they do not need to rely on vendor to customize the reporting for them. Report is a very critical component to management decision support.

Unless your company has a good in-house development team, you won’t be able to enjoy source code based accounting benefits, at most it is just another alternative accounting software to UBS Accounting!

Copyright 2008 – Cynics Software. Feel free to distribute this article, along with the resources box in place without modification.

Details About The Accounting Profession Of Singapore

The Institute of Certified Public Accountants of Singapore (ICPAS) is the national body representing the accounting profession in Singapore.It maintains a register of qualified accountants comprising mainly local graduates.Membership is open to members of the Institutes of Chartered Accountants of England and Wales, Australia, Scotland, Ireland and some number of other accounting bodies.Generally, prior to being admitted as a full member, they must attend a week-long pre-admission course.After they became members, they will now be considered as certified public accountants.

It is the The Public Accountants Board who is responsible for issuing licenses as well as registering aspiring accountants. They are also responsible in managing practice monitoring, disciplinary matters and regulations on professional conduct.

Facts about Accounting Records in Singapore

The law requires all incorporated company to submit books with complete details of financial transactions of the company.

The said book will now be placed in the company’s address or wherever the director might think would be the best place.If the books are maintained outside Singapore, sufficient records must be maintained in Singapore to facilitate the preparation and/or audit of financial statements that reflect accurately the company’s financial position.

Sources of Accounting Principles

Financial Periods Commencing before 1 January 2003

The principal source of accounting principles in Singapore, namely Statements of Accounting Standards (SAS) and Interpretation of Statements of Accounting Standards (INT), are issued by ICPAS. These standards are essentially International Accounting Standards (IAS) modified for certain transitional provisions. Guidelines on the accounting measurements and announcement of requirements are provided by them. If for some reasons, ethics conflict with disclosure exemptions granted by law, certain company may go wayward from the expected ethics. In that case, it is required for CPAS to take whatever disciplinary action appropriate against members who are responsible in violating the standards. It is SAS and INT who are responsible in establishing rules on accounting measurements. Proclamation of requirements are done by SAS, INT and the Companies Act.

ICPAS is a member of the International Accounting Standards Committee (IASC). Compliance with IASC standards are not mandatory, but the institute supports the IASC objectives of formulating and publishing standards for observance during presentation of audited financial statements and promoting worldwide acceptance of such standards.

Financial Periods Beginning on or after 1 January 2003

With the implementation of section 37 of the Companies (Amendment) Act 2002, SAS issued by ICPAS will not be used with effect from annual financial periods commencing on or after 1 January 2003. Rather, Singapore Financial Reporting Standards (FRS), released by the new accounting standards-setting body, the Council on Corporate Disclosure and Governance (CCDG), are being used instead. In essence, FRS are are acquired from International Financial Reporting Standards (IFRS). The former SAS were acquired from the same set of IFRS (formerly referred to as IAS) however, with some changes to some provisions. Consequently, there are differences between FRS and SAS. Understanding of Standards are considered a legitimate guide on the application of the pertinent rules. CCDG accepted all international interpretations as Interpretations of FRS (INT FRS) effective beginning on or after 1 January 2003.

Compliance with FRS is a statutory requirement whereby any non-compliance amounts to a breach of the Companies Act by the directors.

Singaporean Financial Report

There is a requirement of audit to the financial statements up to six months prior to the Annual General Meeting by the shareholders. Generally if a company incorporated in Singapore has one or more subsidiaries, it must prepare consolidated financial statements unless it meets certain criteria as provided for in FRS 27 Consolidated and Separate Financial Statements. Currently, financial statements under the Companies Act consist of the balance sheet, income statement together with explanatory notes. With the Companies (Accounting Standards) Regulations 2002 coming into operation for financial periods on or after 1 January 2003, a complete set of financial statements will comprise the balance sheet, income statement, statement of changes in equity, cash flow statement and explanatory notes.

The financial statements must be accompanied by the directors’ and auditors’ reports and by a statement from the directors declaring that the financial statements show a true and fair view and that it is reasonable to believe that the company can reasonably pay its debts as they become due. Although companies that have complied with the requirements are not audited, they are still oblige to procure their financial statements in compliance with the Companies Act.

Requirements for Singaporean Companies on a Yearly Basis

One or more auditors should be appointed that are qualified for appointment under the Accountants Act to responsible in reporting the company’s financial statements.All auditors that are appointed are accountable on keeping and maintaining all the important files and documents of the company.They will then report on the fairness of the financial statements to the shareholders at the Annual General Meeting.Audit Exemption Starting with the financial year beginning on or after 15 May 2003, the following companies are no longer required to have their accounts audited.But then, they are still obliged to prepare accounts that comply with FRS.

Small exempt private companies

Companies with a annual revenue of below S$5m are given exemption to appoint auditors as well as comply audit requirements. It is according to the legal accounting standards such as FRS that revenue is defined.

Dormant companies

An inactive company is not required to appoint auditors as well as accomplish audit requirements if it has been inactive either (a) during its creation or (b) from the end of the last financial year. It is considered an inactive company if it stop engaging its accounting transactions as well as it continues to be as such when transactions occur. With this regard, business affairs commencing from the ones below are ignored:
Getting of shares in the company by a subscriber to the memorandum
Appointment of company secretary
Nomination of an auditor
Maintaining an office that has been registered
Safekeeping of registers and books
Payment of bills, fines or default penalties to the Registrar of Companies

Tips To Write Accounting Student Cover Letter

If you are looking for a career in accounting sector then it is very essential to write an impressive cover letter. A cover letter is a letter of introduction attached to another document such as a resume or curriculum vitae. If you want to secure a decent job in this sector then you must craft a professional cover letter that grabs the attention of the employer at the very first glance.

In this article I would like to provide you some important tips that will help you in framing an effective job application letter.

1. Keep it short, precise and focused
A job application letter should not be too lengthy. Employer is not interested in knowing your hobbies and interest. Just focus on your abilities and qualification related to accounting occupation. Try to make it as brief as possible.

2. Just demonstrate your recent accomplishments
Under this title you must demonstrate how your proficiencies and qualifications which did wonders for your previous organization. Just highlight your assistance in the various technical projects of the previous company.

3. Use correct grammar
Always keep in mind that the great way to inscribe a cover letter is to write it totally flawless. You must be very careful while writing a cover letter. Just one silly mistake can stand out and cost you the job. A poorly printed document having spelling mistakes will make a poor impression on the employer. I will advice you to use a spell check option after writing this document.

Given below is a sample cover letter for accounting student post.

Your Name
Your Address
Your City, State, Zip Code
Your Phone #
Your Email

Date

Employer Name
Company
Address
City, State, Zip Code

Dear Mr. /Ms. Last Name,
I am responding to your advertisement in XYZ.com regarding the accounting student position. Please regard this letter as my formal application. I consider that my experience and interests match with your requirement and want to apply for the same position.

I have a very strong academic background in accounting combined with over five years work experience in accounting and bookkeeping. I believe that through my knowledge, abilities and work experience, I will be a useful member of your company.

I am confidant that my education coupled with my extensive experience can be an asset to your company. I look forward to hearing from you to arrange an interview.

Thank you for your consideration.

Sincerely,

Your Signature

Your Typed Name

Well, these are some of the vital tips for writing an accounting student cover letter. I hope this article will help you in preparing a good business document.