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AccountingWebz.com: Accounting
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tax service, consulting accountants, payroll, accountancy software,
mortgage loan and more. Our goal is to simplify your quest for
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Accountant
| CPA Firm |
Services include monthly accounting, bookkeeping,
and payroll along with tax
preparer and business management consulting & advisory. |
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Accountant
An Accountant is a practitioner of accountancy, which
is the measurement, disclosure or provision of assurance
about financial information that helps managers, investors,
tax authorities and other decision makers make resource
allocation decisions. The word "Accountant"
is derived from the French word 'Compter' which took its
origin from the Latin word 'Computare'. The word was formerly
written in English as "Accomptant", but in process
of time the word, which was always pronounced by dropping
the "p", became gradually changed both in pronunciation
and in orthography to its present form. The Big Four are
the largest employers of accountants worldwide.
source: http://en.wikipedia.org/wiki/Accountant
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accountant
Bookkeeping
Bookkeeping is the recording of financial transactions.
Transactions include sales, purchases, income, and payments
by an individual or organization. Bookkeeping is usually
performed by a bookkeeper. Bookkeeping should not be confused
with accounting. The accounting process is usually performed
by an accountant. The accountant creates reports from
the recorded financial transactions recorded by the bookkeeper.
There are some common methods of bookkeeping such as the
Single-entry bookkeeping system and the Double-entry bookkeeping
system. But while these systems may be seen as "real"
bookkeeping, any process that involves the recording of
financial transactions is a bookkeeping process.
source: http://en.wikipedia.org/wiki/Bookkeeping
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bookkeeping
Types
of tax accounting methods
Main article: Comparison of Cash Method and Accrual Method
of accounting
Proper accounting methods are found in section 446 to
which permits cash, accrual, and other methods approved
by the IRS including combinations. After choosing a tax
accounting method, under section 446 the Secretary of
the Treasury has wide discretion to re-compute the taxable
income of the taxpayer by changing the accounting method
to be used by the taxpayer in order to clearly reflect
the taxpayer's income. If the taxpayer engages in more
than one business then it may use a different method for
each business according to section 446.
source: http://en.wikipedia.org/wiki/Tax_accounting_in_the_United_States
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tax help
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