Brian just completed a Client Needs Assessement and his client confirmed that she will requre profitability tracking, and need to create budgets and purchase orders in her accounting solution. What is the mimimum Quick Books online version suitable for Brian's client?
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- Did you use QuickBooks Software? How a company profile can be created? If inventoryitems are not given, how those can be added? Costing and pricing both are major pillarsto be set properly, what do you think? Justify with practical examples using QuickBooksand attached those with your answersDescribe how information reduces risk when you make a personal or work-related decision. What are information rules? How do they simplify the process of making decisions? What is the difference between data and information? Give one example of accounting data and one example of accounting information. List the five functions of an MIS. What are the components of a typical business report? Describe the three types of computer applications that help employees, managers, and executives make smart decisions. What purpose do audits and GAAPs serve in today’s business world? How do the major provisions of the Sarbanes-Oxley Act affect a public company’s audit procedures? What is the principal difference between a balance sheet and an income statement? How are current assets distinguished from fixed assets? Why are fixed assets depreciated on a balance sheet? How does the use of money solve the problems associated with a barter system of exchange? For a business firm, what type of activities…Love Doddle is a gifting enterprise of Ms. Dorati. The enterprise generates inflows by arranging gift hampers for the customer's loved ones. The inflows arises from the sale of gift hampers Rs 505000 and from bank interest, dividend receipt Rs4200. Ms. Dorati is confused on how to record these inflows. She would like to understand from you about the concepts Revenue from operation and other income, so that she can record the information so as to prepare the profit and loss statement of the enterprise. Define, share examples, and elaborate on your understanding towards the terms Revenue from Operation and Other Income
- Your friends were excited to hear you have chosen accounting for a career. They have several practical questions regarding money and interest (time value of money). Please assist your friends by answering their respective questions. For each question: A. Estimate without using a table, calculator, etc. B. Document the "step-by-step" detail showing them how you solved the question. NOTE: To solve use one of the following: • EXCEL Include all the detail steps for whichever tool you choose. For example, if using EXCEL show all formulas (copy so reader could duplicate your work). If using a business calculator, in detail in proper order show numbers and buttons you input to obtain your answer. C. Provide a one to three sentence written explanation to your friend explaining the basic time value of money concept(s) impacting the solution. Friend #1 – Car Loan – What will by my monthly payment if I purchase a used car for $8,500? The dealer has offered to finance the purchase (car loan) over…Please help me create a balance sheet and an income statement for the year following exhibits 1.2 and 1.3The company you are working for has decided to put on a banquet to raise money for a charity and must decide between two catering services to supply the food and servers. You have been assigned to the Banquet Planning Committee. You will submit your work, neatly hand-written or typed and clearly labelled. You will submit graphs separately via the Desmos share tool. You must use algebra to solve the problems and describe how to use Desmos or a graphing calculator to check you work. To best maintain accuracy, round only your final answers. Simplify completely.Research Provided:The Company’s research department has provided the following estimates: A demand of 330 banquet attendees can be expected at a dinner plate price of $70.00 each. A demand of 470 banquet attendees can be expected at a dinner plate price of $40.00 each. Catering Service A has a fixed cost of $1,800 and a marginal cost of $30 for each plate. Catering Service B has a fixed cost of $2,500 and a marginal cost of $22 for…
- Which 2 of the statements below are correct about using the client details and dashboard screens of QuickBooks Online Accountant and working with client company files? (Select all that apply) Notes will automatically be pinned unless you uncheck the Pin box Clients who don't have a QuickBooks Online Company can't have their details displayed on the Client list screen of QuickBooks Online Accountant You can import QuickBooks Online Trial Balance data into ProConnect Tax Online to prepare tax returns via the client dashboard You can start a new tax return from the client dashboard for non QuickBooks Online clients or clients that are using QuickBooks OnlineYour friends were excited to hear you have chosen accounting for a career. They have several practical questions regarding money and interest (time value of money). Please assist your friends by answering their respective questions. For each question: Estimate without using a table, calculator, etc. Document the “step-by-step” detail showing them how you solved the question. NOTE: To solve use one of the following: EXCEL Include all the detail steps for whichever tool you choose. For example, if using EXCEL show all formulas (copy so reader could duplicate your work). If using a business calculator, in detail in proper order show numbers and buttons you input to obtain your answer. Provide a one to three sentence written explanation to your friend explaining the basic time value of money concept(s) impacting the solution. Problems start with “Friend #1” at the top of page 2.Give typing answer with explanation and conclusion
- Industry Tools Research Your manager has asked you to recommend an industry tool for purchase. Select one of the following tools to research: ACL, IDEA, Microsoft Visio, Oversight, Power BI, Alteryx, and Tableau. Identify key features of each tool. Discuss how auditors can incorporate the tool into their audits. Additional learning opportunities: If you are interested in learning more about data analytics and emerging technologies in accounting, join the Institute of Management Accountants (IMA) for only $25 per year: Students | IMA - The association of accountants and financial professionals working in business.Links to an external site. (Use code Student22). Gain access to Free courses, training, and webinars.ABC Co. has a contract with Xero, a cloud-based accounting software platform for small- and medium-sized businesses. As the accountant of ABC, you use Xero to record transactions and generate reports. How would you account for the payments made to Xero?Please explain with examples how travel agency business analyse and manage their accounting system into a reliable system ?
