Frequently Asked Question
Domain Specific Accounting Services FAQS
- Explain Accounting for an Asset Purchase?
- What Are the Duties of a Logistics Coordinator?
- What are the Function Logistic coordinators?
- What is Civil/Heavy Construction?
- Explain About Property Management Companies?
- Explain About Real Estate Companies?
- What is Restaurant Accounting Method?
- How to Keep Accounting Records for a Small Restaurant?
- What is Retail Accounting Basics?
- What Does "FOB" Mean in Accounting?
1. Explain Accounting for an Asset Purchase?
When a company purchases an asset, certain processes must be followed. The transaction requirements to be recorded and, depending on the asset, it might also need to be depreciated. There are many different types of assets available for purchase including insurance, machinery, land, office supplies and furniture.
2. What Are the Duties of a Logistics Coordinator?
In business, the term logistics describes bringing in necessary raw materials and transporting finished products to distributors, wholesalers or customers. Sometimes called managers, logistics coordinators are the professionals who oversee the day-to-day operations of a logistics department of a manufacturer.
3. What are the Function Logistic coordinators?
Logistic coordinators oversee the warehouses, where goods are sent and received, as well as any truck drivers or haulers directly employed by the company. Coordinators confirm that these areas follow company guidelines and policies as well as operate within budgetary constraints.
4. How to Run a Property Management Business?
A property management business can range in employees and properties. Property management companies manage a couple to several homes or commercial properties at the same time. These managers need the tools at hand to accomplish their mission. There are a lot of tools that can help you.
5. Explain About Property Management Companies?
If you've rented a home a few times, you've possibly had some experience with a property management company. Property managers are real estate professionals whose area of expertise is in the leasing of building property. This area of business is necessary in some form in almost every city. The particulars may vary with each company and area, but the basic responsibilities of a property management company are fairly consistent, no matter where you are.
6. Explain About Real Estate Companies?
A good real estate company is energetic to making your real estate transaction run smoothly. Whether you are looking for a home, a commercial property or anything in between, you can find a company that concentrates in your requirement. Real estate laws and disclosures change so regularly that unless you are a student of these things; you need the professional to make sure you conform. Using a real estate company, you should be aware of how they earn their income and what their responsibilities are to you as a buyer or seller. Knowing these things can give you a better experience the next time you need to one.
7. What is Restaurant Accounting Method?
Like other businesses, if you own a restaurant, you can choose between the cash and accrual methods of accounting for your business. Naturally, if your business is small, the cash method is more manageable. Larger businesses may be more interested in the accrual method. A professional accountant can analyze your needs and advise you on which system will work best for you as you start out.
8. How to Keep Accounting Records for a Small Restaurant?
It is important to keep daily accounting records for any restaurant business. Handwritten ledgers are not the best option now that there are numerous inexpensive accounting software packages available. They will lead you through the setup and operating processes and also produce reports that will enable you to calculate your restaurant's profit or loss. These programs can help you create and implement a budget to ensure that you don't have a cash flow problem in the future.
9. What is Retail Accounting Basics?
Retail accounting is a form of accounting that lists all stock at its final retail price, rather than the actual price paid for stock. It can be a useful tool for detecting loss, damage or theft of stock. However, it only offers limited details and is not a substitute for traditional accounts.
10. What Does "FOB" Mean in Accounting?
"FOB" stands for "freight on board." There are two designations that naturally follow the abbreviation FOB. One designation is shipping point and the other is destination. Buyers responsible for FOB represent transportation in; sellers responsible for FOB is transportation out.