Accountancy

An essential document in the business of most companies, the quotation is a writing by which a supplier / service provider proposes a tariff for a good / service. For best accountancy training  Best school of accountancy In Lahore .  Establishment of the quote must comply with some rules since  some mentions are obligatory . An estimate is a written document by which a professional informs another professional or an individual of his or her price for the supply of a good or the performance of a service. Thus, it can serve as a tool for comparing tariffs between different professionals, and can protect both parties   by contracting the "working “relationship. However, in the relations between professionals, the quote is never compulsory. Between professionals and individuals, the situation is different because several situations make it compulsory to produce a quote: Works and breakdown service for 150 € or more ...

The accounting writing of the purchase of a property complex  involves to properly breaking it down into different categories. The purchase of the land will have to be accounted for on the one hand and the purchase of the building on the other, and the additional costs will have to be taken into account. A tedious task... Accounting for land When acquiring a real estate complex, a company must be able to identify which part of the purchase price actually concerns the acquisition of the land since this value will not be depreciable as opposed to the construction. If the notary’s deed does not give any indication on this subject, the value of the land can be estimated by calling on a real estate expert or calculated by reference to the market price of similar land. This amount will be recorded in a subdivision of the "211 - Land" account which will generally be” 2115 - Built Land”. Accounting for a building If you buy ...

Calculating the residual value of a good is very simple since it will be necessary to withdraw the accumulated depreciation amount at the purchase price. For best accountancy training  Best school of accountancy In Lahore .  Obviously, in order to do this, the accounting firm will have to have depreciation schedules in order  to know what rate of depreciation to apply to each asset  since not all of them lose value at the same rate. It is considered, for example, that bedding does not lose value after being used one year while a computer loses 20% or a video game 40% after the same duration of use. The latter is also widely used in the insurance sector since compensation is based on the residual value of the asset. In other words, if your refrigerator, purchased 5 years earlier, is drowned following a flood, the insurance will compensate you on the basis of the residual value of the property, ie the value before the disaster. It ...

Whether in economics or accounting, the concept of residual value is frequently used, but it is not always easy to understand. Here is a small article which will allow seeing more clearly on its definition, its interests but also its calculation. What is the residual value? To define the residual value, many variants exist since each tries to adapt it to its activity. However, the following definition can be accepted: the residual value is "the estimated value of an acquisition at the end of the amortization period”. It therefore corresponds to the value of a property after being used . If the residual value is never negative, it can be zero, since it is completely possible for certain assets to have no longer any value after a certain period of use. Applications of the residual value For a very long time, residual value has been an essential element of the   leasing contract,   which has been a real success w...

Once a company decides to put an end to its activity, the accounting work is not quite finished. For accountancy training  Best school of accountancy In Lahore .  Indeed, several entries are necessary for the liquidation of the company  and a possible sharing  of the remaining equity. What is the termination of business and liquidation? While many think that cessation of activity and liquidation are synonymous terms, it is actually nothing. Indeed, the cessation of activity   corresponds very simply to the fact that an undertaking ends its activity. It may originate in a will of the executives to close the company for reasons X or Y or in a judgment ordering its liquidation (payment with impossibility of reorganization). Liquidation is the consequence of the economic disappearance of a company . It is carried out by the head of the company and his accountant or by a mandated liquidator (in the case of liquidation). It involv...