What education is needed to become a controller?
In general, at least a bachelor’s degree in finance, business administration, accounting, or related area is required for controller positions. Bachelor’s...
What is share capital used for?
Share Capital plays a very important role in the structure of a limited company. Each company, with share capital, has both authorised and issued shares, ...
Is Advanced diploma equivalent to degree?
An advanced diploma is one given to students who complete a set of courses based on their desired field of study. Generally, this type of diploma is given...
What is the use of busy software?
Busy Software is application software that records and processes business accounting transactions within functional modules such as Financial Accounting (...
How do I account for payroll taxes?
Taxes that are withheld from an employee paycheck are entered as a debit to your salary expense account and a credit to your payable account. Debit the pa...
Who is the contributor of Fibonacci sequence?
mathematician Leonardo of Pisa The mathematician Leonardo of Pisa, better known as Fibonacci, had a significant impact on mathematics. His contributions t...
Who governs non profit organizations?
state governments The state governments take primary responsibility for regulating nonprofit organizations. In at least 39 U.S. states, nonprofits must re...
What is included in FICA withholdings?
The Federal Insurance Contributions Act (FICA) is the federal law requiring you to withhold three separate taxes from the wages you pay your employees. FI...
How do you calculate budgeted production units?
Production Budget = Budgeted Sales Units – Opening Stock of Finished Goods + Closing Stock of Finished Goods the opening stock of finished goods has alrea...
What are the three main headings in the balance sheet?
A business Balance Sheet has 3 components: assets, liabilities, and net worth or equity. The Balance Sheet is like a scale. Assets and liabilities (busine...
