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Professionals in the banking, finance and accounting industries manage large amounts of data in spreadsheets. As one change to a value or formula could affect a substantial amount of data, these professionals find document comparison (such as comparison of two versions of a MS Excel spreadsheet) to be extremely useful in assuring accuracy in ...
The following comparison of accounting software documents the various features and differences between different professional accounting software, personal and small enterprise software, medium-sized and large-sized enterprise software, and other accounting packages. The comparison only focus considering financial and external accounting functions.
[citation needed] Work to have accounting functions be implemented on computers goes back to the earliest days of electronic data processing. [1] Over time, accounting software has revolutionized from supporting basic accounting operations to performing real-time accounting and supporting financial processing and reporting. [2]
Displaying the differences between two or more sets of data, file comparison tools can make computing simpler, and more efficient by focusing on new data and ignoring what did not change. Generically known as a diff [1] after the Unix diff utility, there are a range of ways to compare data sources and display the results.
Examples include such items as cancelled checks, paid bills, payrolls, subsidiary ledgers, bank reconciliations. [1] Accounting records can be in physical or electronic formats. In some states, accounting bodies set rules on dealing with records from a presentation of financial statements or auditing perspective. Rules vary in different ...
In bookkeeping, a general ledger is a bookkeeping ledger in which accounting data are posted from journals and aggregated from subledgers, such as accounts payable, accounts receivable, cash management, fixed assets, purchasing and projects. [1] A general ledger may be maintained on paper, on a computer, or in the cloud. [2]
Generally Accepted Accounting Principles (GAAP) [a] is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC), [1] and is the default accounting standard used by companies based in the United States.
Mark-to-market accounting – accounting for the fair value of an asset or liability based on the current market price of the asset or liability, or for similar assets and liabilities, or based on another objectively assessed "fair" value. Matching principle – culmination of accrual accounting and the revenue recognition principle. Accounting ...