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By Terry Cartwright

Accounting software is a system of recording financial transactions on a computer across a full range of accounting options almost invariably dependent upon the size of business being catered for. Accounting software can vary from multi million pound solutions for major public companies to simple managed lists of income and expenses.

The requirements from accounting software are diverse with the most complex and comprehensive financial accounting packages incorporating financial reporting information and managed by teams of qualified accountants supported by accounts clerks, bookkeepers and substantial input from automated data sources. At the other end of the scale a self employed sole trader might use accounting software themselves and produce a set of financial accounts for the year in an afternoon.

Different accounting standards are required from accounting software dependent upon the fitness for purpose and client needs. Double entry bookkeeping automated through a database system and probably arranged in financial modules would normally be the choice of the majority of public companies. Single entry bookkeeping would not be an acceptable accounting solution for a limited company due to audit requirements and statutory obligations.

Single entry bookkeeping does however have its place in the market place for the smaller less complex businesses who maintain financial control through a close intimate knowledge of every financial transaction. The main objective of a sole trader is more likely to be the production of the tax accounts and complete the periodic and annual tax return forms.

The most sophisticated level of accounting software in the largest companies mirrors the accounting functions in those organisations with various financial modules for accounts receivable, accounts payable, stock control, general ledger and fixed assets. These accounting modules may also be integrated with non accounting functions such as production and dispatch functions and also divided into separate modules within the accounting function.

[youtube]http://www.youtube.com/watch?v=F41-kxHrLYw[/youtube]

In larger companies the sales daybook and data entry of sales turnover would often be the responsibility of one department while the accounts receivable function might be split with a specialist credit control function within that accounting module. A further division may also include sales administration and customer records. Similarly the accounts payable function might be split between the purchasing department, accounts purchase invoice department and a legal function for overdue payments.

Accounting software for smaller companies and organisations is commonly a system of data entry of prime transactions which include sales income, purchase expenses and cash and bank transactions. The prime entry of these documents being to a database which automates the double entry accounting principles and produces both accounts receivable, accounts payable and general ledger databases.

Some accounting knowledge is usually required tom operate a database accounting software system and that financial knowledge is usually available within the company as most companies that use database accounting software also employ a bookkeeper or accounts clerks to input data and in slightly larger small companies also qualified accountants to manage the accounting function.

The need for accounting knowledge in a database system is partially to understand the data entry principles and the relevancy of the rules that need to be followed but essentially understanding of accounting principles is required to understand what is happening ton the information after input. And most important, a qualified accountant has the financial knowledge, training and experience to know what the system should be producing and how to query the database to retrieve that information.

In addition to inputting the prime income and expenditure details the most benefit of a database accounting system is the level of financial control the information it contains can provide the company management and financial directorship. The accounting function also has the security of producing trial balances, periodic profit and loss accounts, balance sheets and other financial and statements for tax and control purposes.

Accounting software packages requiring little or no accounting knowledge are available.

Small limited companies must obtain accounting software based upon double entry accounting principles as in addition to producing a profit and loss account and a trial balance to demonstrate accuracy and integrity of the financial records plus a balance sheet is required for reporting purposes. Accounting standards require the limited company to have a system of financial control and accounting software is an essential tool in achieving this.

Some accounting knowledge either from the management or outsourcing the bookkeeping services is usually required with even the simplest database accounting solutions eve3n if this requires the understanding of what accounts receivable ledgers, accounts payable ledger and control accounts mean.

There are other possibilities and those businesses with a minimum of accounting knowledge can consider spreadsheet based accounting software. Accounting software compiled from spreadsheets is less flexible and often does not have the range of options a database system has due to the lack of database queries available. These disadvantages of flexibility being compensated by the fact that all entries are visible, transparent and changes can be made more easily.

Financially at the sole trader and self employed end of the business spectrum then the requirements from accounting software may be completely different. Gone are the sophistications of control accounts, trial balances and many aspects of financial control. The most important aspect of self employed accounting software is often to produce a set of accounts for tax purposes.

Self employed small business that do not require a balance sheet can use accounting software based upon single entry bookkeeping rather than double entry and with the reduced requirement for financial control then less financial queries to the system are required. In these respects the simpler an accounting solution the better and in this market an accounting solution written on spreadsheets that can produce the net taxable profit would meet the requirements.

About the Author: Terry Cartwright designs Payroll and Accounting Software

diyaccounting.co.uk

with UK payroll software for 1 to 20 employees at

diyaccounting.co.uk/payroll.htm

Source:

isnare.com

Permanent Link:

isnare.com/?aid=216233&ca=Business+Management

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Monday, September 12, 2005

The Federal Emergency Management Agency (FEMA) is being criticized for misallocation of personnel in the wake of Hurricane Katrina. FEMA representatives said they requested volunteers from fire departments around the U.S., to handle its community relations campaign. However, a document FEMA sent to local fire departments asked for firefighters with very specific skills and who were capable of working in “austere conditions”. Fire departments around the nation responded by sending crews to the FEMA staging ground in Atlanta. Some of these crews were unaware that they were only going to be used for public relations work. Others, however, merely hoped that FEMA would allocate them to rescue and damage control operations once it saw their qualifications.

The firefighter’s objections are particularly poignant as one of FEMA public relations training seminars coincided with New Orleans Mayor Ray Nagin plea for firefighters on national television, to relieve his own exhausted crews. It is unclear if FEMA’s request for firefighters prevented any municipalities from responding to Mayor Nagin’s request.

Some firefighters have objected to their use as FEMA public relations officers because their municipalities must bear the cost of their salaries, as well as endure reduced firefighting capacity. FEMA has stated that it sought to use firefighters to avoid background checks required of federal employees.

Firefighters began receiving their assignments Monday, September 5th. Among these was a crew of 50 assigned to tour the devastated areas with President Bush and the press.

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Saturday, May 9, 2009

The five largest United States banks need a total of US$74.6 billion in extra funds to increase their cash reserves, according to so-called “stress tests” conducted by regulators to determine whether the banks have enough capital to survive the ongoing recession.

“Our hope with today’s actions is that banks are going to be able to get back to the business of banking,” said Timothy Geithner, the US Treasury Secretary.

The results of the stress-test determined that Bank of America was the bank most at risk, needing $33.9 billion. Wells Fargo will require an additional $13.7 billion, while GMAC needs $11.5 billion.

Seven other banks failed the “stress test”, including: Citigroup, Morgan Stanley, Regions Financial, SunTrust Banks, KeyCorp, Fifth Third Bancorp, and PNC Financial Services.

Nine other banks that underwent stress tests, such as Goldman Sachs, JPMorgan Chase, Bank of New York Mellon, MetLife, American Express, State Street, BB&T, US Bancorp and Capital One Financial, were found to have enough capital in case the recession deepens.

Those banks that need extra money will be set a June 8 deadline to draw up their plans to raise the additional capital and have regulators approve them.

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Friday, March 17, 2006

Nelson Boys College was closed today because of an outbreak of gastro-enteritis in its boarding houses.

About 40% of the school’s boarding students have been hit with what is thought to be the highly contagious and violent stomach bug, Norovirus.

The principal, Salvi Garguilo, says the boys are being well cared for at the school, helped by Nelson Hospital.

They will stay isolated until they are no longer contagious.

Nelson College will reopen on Monday.

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Sunday, June 11, 2017

While Theresa May remains Prime Minister of Britain, her party, the Conservative Party, won Thursday’s general election but lost its majority in Parliament.

The next scheduled general election was not until 2020. May requested this general election, called a snap election, in April, when polls indicated it would strengthen the then-slight majority the Conservatives held in Parliament. Talks to establish the specifics of Britain’s departure from the European Union are set to begin June 19. Last year, British voters decided to leave the EU, but many of the specifics of the United Kingdom’s new relationship with the rest of Europe have yet to be established. May and the other Conservatives favor a “hard Brexit”, in which Britain would lose its current level of access to Europe’s single market and have to deal with higher tariffs and more complicated customs processes but it would regain full control of its borders with respect to trade and immigration. An increase in the number of Conservative Parliamentary seats would have supported this plan.

“Officially Theresa May is still the partner in Brexit negotiations,” said senior German MP Stephan Meyer, “but the political reality is different after this disastrous defeat. I can’t imagine that May will be able to remain prime minister.”

Jean-Claude Juncker of the European Commission said, “As far as the Commission is concerned we can open negotiations tomorrow morning at half past nine […] First we have to agree on the divorce and exit modalities, and then we have to envisage the architecture of our future relations. I do hope that the result of the elections will have no major impact on the negotiations we are desperately waiting for.”

A Parliamentary majority requires 326 of the organisation’s 650 seats. The Conservative Party holds 318 outright, including May’s own seat in Maidenhead, and the Labour Party holds 262, having gained about 30 in this election. In Britain, the leader of whichever political party has the most seats becomes Prime Minister, though they are also formally appointed by the monarch. Theresa May became leader of the Conservative Party on July 11 of last year and was appointed by Queen Elizabeth II two days later. Cases in which no political party wins outright are called a hung Parliament, and then two or more parties rule together in coalition. Britain had a coalition government from 2010 to 2015. Northern Ireland’s Democratic Unionist Party has pledged an unofficial alliance with the Conservatives, which would bring them up to 328.

This would make May the second Prime Minister in a row to call an election with unexpected results. David Cameron called for a referendum on Britain’s EU membership, not expecting the voters would reject it.

May’s current ministry said most of her senior officials, including Treasurer Philip Hammond, Foreign Secretary Boris Johnson, and Home Secretary Amber Rudd, will remain in the Cabinet.

May met with Queen Elizabeth II yesterday to request her permission to form a government in her name, a traditional formality.

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Monday, June 21, 2010

Sweden’s first royal wedding since 1976 took place Saturday when Crown Princess Victoria, 32, married her long-time boyfriend and former personal trainer, Daniel Westling, 36. The ceremony took place at Stockholm Cathedral.

Over 1,200 guests, including many rulers, politicians, royals and other dignitaries from across the world, attended the wedding, which cost an estimated 20 million Swedish kronor. Victoria wore a wedding dress with five-metre long train designed by Pär Engsheden. She wore the same crown that her mother, Queen Silvia, wore on her wedding day 34 years previously, also on June 19. Victoria’s father, King Carl XVI Gustaf, walked Victoria down the aisle, which was deemed untraditional by many. In Sweden, the bride and groom usually walk down the aisle together, emphasising the country’s views on equality. Victoria met with Daniel half-way to the altar, where they exchanged brief kisses, and, to the sounds of the wedding march, made their way to the the silver altar. She was followed by ten bridesmaids. The couple both had tears in their eyes as they said their vows, and apart from fumbling when they exchanged rings, the ceremony went smoothly.

Following the ceremony, the couple headed a fast-paced procession through central Stockholm on a horse-drawn carriage, flanked by police and security. Up to 500,000 people are thought to have lined the streets. They then boarded the Vasaorden, the same royal barge Victoria’s parents used in their wedding, and traveled through Stockholm’s waters, accompanied by flyover of 18 fighter jets near the end of the procession. A wedding banquet followed in the in the Hall of State of the Royal Palace.

Controversy has surrounded the engagement and wedding between the Crown Princess and Westling, a “commoner”. Victoria met Westling as she was recovering from bulemia in 2002. He owned a chain of gymnasiums and was brought in to help bring Victoria back to full health. Westling was raised in a middle-class family in Ockelbo, in central Sweden. His father managed a social services centre, and his mother worked in a post office. When the relationship was made public, Westling was mocked as an outsider and the king was reportedly horrified at the thought of his daughter marrying a “commoner”, even though he did so when he married Silvia. Last year, Westling underwent transplant surgery for a congenital kidney disorder. The Swedish public have been assured that he will be able to have children and that his illness will not be passed on to his offspring.

Westling underwent years of training to prepare for his new role in the royal family, including lessons in etiquette, elocution, and multi-lingual small talk; and a makeover that saw his hair being cropped short, and his plain-looking glasses and clothes being replaced by designer-wear.

Upon marrying the Crown Princess, Westling took his wife’s ducal title and is granted the style “His Royal Highness”. He is now known as HRH Prince Daniel, Duke of Västergötland. He also has his own coat-of-arms and monogram. When Victoria assumes the throne and becomes Queen, Daniel will not become King, but assume a supportive role, similar to that of Prince Phillip, the husband of the United Kingdom’s Queen Elizabeth II.

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Thursday, August 17, 2006

The discovery of a suspect bottle of fluid in a passengers carry-on luggage has prompted the evacuation of Tri-State Airport, located near Huntington, West Virginia.

The bottle was identified by a security screener as a woman passenger attempted to board a flight to Charlotte, North Carolina. Since the discovery of an alleged plot to destroy US flights departing from British airports last week using liquid explosives, authorities in the US and UK have banned transportation of liquids in carry-on luggage.

A machine used by security officers to test for the presence of explosives was trigged by two of four bottles carried by the woman. This positive result was subsequently confirmed by a sniffer dog. The bottles reportedly contained drinking water and a face wash with a drop of bleach.

Both bomb sniffing dogs and explosive detecting equipment detect chlorine among other chemicals. Chlorine is the major ingredient in bleach and a common disinfectant.

Airport officials report that the woman, Rima Qayyum, is an American from Jackson West Virginia. She is of Pakistani origin and was travelling on a one way ticket to Charlotte, North Carolina. She is four months pregnant.

Transportation Security Administration spokeswoman Amy von Walter issued the following statements to press. “The bomb squad is on site and the woman is being interviewed by the FBI,” “It looks like there were four items containing liquids … two of those containers tested positive.”

The bottles were later found to be harmless and the woman was released.

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The Elegance of Antique Jewelry

by

Anirban Bhattacharya

The title should in fact be extended further than this: The Elegance of Symbol in Antique Jewelry.

Of all the properties, be it aesthetics or material value, that people, since the dawn of time, have invested in jewelry, the symbol of power is the most important.

Only very few could afford to be adorned with jewelry, so this extravagance is concentrated in upper classes of the civilizations we know. This can be documented from the finds in graves whether they date back to the Bronze Age (2.500 B.C.) or the Middle Ages. Rich graves are better preserved and gold, silver and gems better survive through centuries than leather, wood, textiles, bone, etc. which common people could afford.

All levels of classes are involved in producing jewelry, from the workers in the mines to the jewellers and goldsmiths. We find this to be true whether we talk about the Antiquity or the present.

[youtube]http://www.youtube.com/watch?v=obGwTr4j3SA[/youtube]

But also poets, musicians, healers, astronomers, astrologers, painters and philosophers have illustrated the beauty and meaning of gems and jewelry and this narration of culture are shared by all members of society.

These different descriptions and approaches also share the immanent and common purpose that culture invests in meaning: to identify and legitimise power and class differences. Jewelry is always used to signal power, distance, control, prestige, status and place in hierarchy.

Most cultures combine different gems and metals with different level of status, hierarchy, medicine, stars, destiny and the likes.

Symbolic meaning and jewelry also associates power with the beauty, value and magic. Even if each culture intermix and exchange ideas, their cultural representation and different traditions, religion and way of control can be identified through the study of jewelry.

It is the elegance of this symbolic distribution throughout societies, which contribute to the maintenance of hierarchy as culture. As long as all members of a culture love songs and stories about the beauty and bliss of jewelry, they play a role in making symbolic meaning narrated in a meaningful way. Hereby binding together culture, history and hierarchy.

Mountains and gems, find perfection from transparency and beautiful colors. To them belongs the precious stones we so desire: carnelian, jasper, emerald and similar gems. There should be nothing and more beautiful than these. Plato, Phaedo c. 400 BC.

Plato (427- 347 BC) used precious stones in his dialogue Phaedo to illustrate the future paradise where the soul freed from the body exists without disfigurement or disease. He also used gems to illustrate the stars, animals and plants. He believed in his mentor Socrates, when making the use of images of flawless jasper, carnelian and emeralds to render notions of spiritual bliss.

Aristotle (384 322 BC) wrote about the power and effect of precious stones and similarly, Theophrastos (370 287 BC), a pupil of Aristotle, informed his readers that like Plato, he especially valued emeralds: Some of the stones, for example, jasper and lapis lazuli, are unusual in their appearance, but in addition to its beauty, the emerald most certainly possesses magical powers.

Antique Jewelry was invested with bliss or magical and healing powers and in the same time they signified status and place in hierarchy. The slave based and stratified societies in the Antique world surely used gold and gems to legitimise dominance, control and exploitation by elegantly referring to the aesthetics and poetic value of gems and workmanship as well as the magical powers embedded in the stones.

The nobles demonstrated status and wealth openly as if it were the most natural thing of the world. In his History of Asia and Europe (c. 130 BC), the Greek historian and geographer Agatharchides of Cnidos writes about the noble residents of Sheba and Gerrha: The furnishings of their houses were made of silver, gold, ivory and precious stones.

Historical jewelry is thus an interesting subject of study as it helps identifying different cultures and traditions.

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The Elegance of Antique Jewelry}

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Monday, September 24, 2007

Andrew McAvoy is running for the Green Party of Ontario in the Ontario provincial election, in the Windsor-Tecumseh riding. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.