Importance of Night Auditors in a Hotel

Night auditor is a person who is responsible for all the account folios handling and its procedural checking. The night auditor of a hotel checks the guest ledger which is the total account receivable by the hotel from the in house guests. His job is so important as he ensure accuracy of the total transaction of the day by the hotel and the required paper work is gathered to complete the process of night auditing. The night audit also takes care of the taxes that are owed to the hotel facilities on the day of tax clearance of each year.

Without Accounts One’s Profit Margin Is Undefined

Accounting is a concept that is utilised by every individual as well as business organization is some form or the other knowingly or unknowingly, in order to keep a track of the expenses incurred and the income earned by them. Accounting is an art used to analyze the data and interpret them accordingly. Whether one agrees or not but accounting is an essential tool for every business firm irrespective of whether they are big or small. Without keeping a track about the expenses one will never be able to derive the profit and income they are making.

Without Accounts One’s Profit Margin Is Undefined

Accounting is a concept that is utilised by every individual as well as business organization is some form or the other knowingly or unknowingly, in order to keep a track of the expenses incurred and the income earned by them. Accounting is an art used to analyze the data and interpret them accordingly. Whether one agrees or not but accounting is an essential tool for every business firm irrespective of whether they are big or small. Without keeping a track about the expenses one will never be able to derive the profit and income they are making.

Job Description of an Accountant

An accountant’s job is to handle all types of matter regarding the finance of the company. This includes works like processing and reviewing financial data for expenditures, revenue and other financial transactions, analyzing balances, reconciles, maintaining proper records of all the transactions for future use, etc. An accountant ensures accuracy, completeness and compliance with federal and provincial requirements and standard accounting and auditing procedures. For a small business an accountant is the person who deals with the distribution, calculation, reviewing, processing, editing and analyzing RSP, provident funds, pension funds, VRS and various other employee benefits.

Role of internal auditors

Among the range of various auditors and accountants, the internal auditors have a significant role to play in the working of an organization. The internal auditors of a company look out for mismanagement in the company’s working. They take into account any kind of wastage done, frauds made or misuse of products. They even make sure that the various accounts of the company are in accordance and are accurate as per the company records. Along with all this, they even review the company operations, evaluate effectiveness and check out whether the functions follow governmental policies. The last of their working calls for recommendations to clear up any disorders.

Accounting for every homemaker

Accounting is a necessary task not only for business firms or other establishments, but it is a job of utmost importance even for a homemaker. For a house to function smoothly, a homemaker must know where the money is going and how exactly it is being spent. Every home has to have a budget, according to which it can run, and the family's needs catered to. Therefore, funds need to be allocated and spent judiciously so as to make sure that the home's budget is not a complete failure. It is also necessary to see that basic needs are met before going on to take care of luxury items.

BENEFITS OF BEING AN ACCOUNTANT

Taking up accounts as your majoring subject can open doors of success for you. The demand for accountants have risen with time as which business would not want an efficient accountant to manage their finances. Accounting is a language of business. Accounting is the medium to know the current position of the business. It also helps the entrepreneurs to make the necessary changes for increasing the profit. An accountant has many duties like he has to analyze the company budget, mange a record of the income and expenditures, audit the financial books, and keep a track of bank accounts and investments. In a nutshell being an accountant is a good career option which has definite possibilities for success.

Where is the money?

Chinese businesses have heaved huge piles of cash in IPOs; however they frequently have slight use for it since the business makes all they require. Consequently, cash is repeatedly the main item on the balance sheet. From an auditor’s viewpoint, cash is the simplest and scariest asset to check.


Audit actions for cash are constructed around the sovereign authentication. The auditor sends a confirmation to the bank, which replies validating the balance. This work is frequently done by the most subordinate of staff, as it is simple, but it can effect in stunning audit malfunctions if it is not prepared right. Confirmations are easily forged in China, therefore many much is lost.

Accounting Blogs Highlights the Improvements Needed for Better Functioning

Due to the widespread of the internet the one of the sectors that has been really booming in the recent time is the accounting blogs. It is a huge platform for the accounting firms to display their expertise to their clients and in return earn the client’s confidence in them. These blogs provide the clients with tips and advices on accounting, that too free of cost. The valuable information provided in the accounting blogs benefit the firms with many clients. The more blogging is done the easier it gets for the clients to locate their desirable accounting firms and hence their potential as well as prospects get highlighted.

Accountant job description

Accounting involves maintaining proper records of financial operations for businesses as well as for individuals. Accountants’ job involves filling out tax forms and filing for tax returns, among other things.
Most accountants work for private firms and the government. A small portion is self-employed. An accountant could be either a tax accountant or a forensic accountant. They generally are employed to make sure that their employers have paid proper taxes and reported their profits, or otherwise, properly. Other than that, they might also be asked to provide investment planning, budget creation and certain legal services. Their services are called upon as and when their employer deems fit.

Islamic accounting

The Qur’an talks about accountancy in the sense that every human follower of Islam is meant to count his doings and maintain a record of it so as to be able to present it to God. The Qur’an even provides guidelines that are needed to be followed so as to maintain the right pattern of recording. The Islamic Law of Inheritance is the most crucial part of accounting in Islam; it is believed that the entire estate of the person after his/her death is to be equally distributed to each and every member of the family. Accounting in ancient times had many implications and the most knowledgeable people had laid specific paths to be followed as to the accounting of the estate of an individual and its measurement. Although only a marginal amount of people still follow it, every part of the Qur’an is still considered as sacred.

Accounting--meaning

The exchange of information with regards to finance of a business or firm with its managers and shareholders is known as accountancy. There are three divisions of accountancy’s principles that are; accounting, auditing and book keeping. Accounting has been around for over 7000 years and was first seen in Mesopotamia. It was used to maintain records of the grain, cattle and crops. Accounting is a vital part of a business now and without it a business cannot function. It helps the company keep a close and in depth eye on the working of the firm and prevents any misuse of the money of the business.

E-Accounting

Those days are long gone when people maintained ledgers to keep track of their business. It’s all done with the help of highly advanced software.
By definition, accounting software is application software that is used to record and process data about transactions and payments. They contain various modules to deal with different portions of accounting, such as receiving and making payments to and from clients, paying their employees, etc. While some software is developed by the company itself, most companies choose to use generic software which has been customized to their needs. It works out to be a cheaper alternative, since developing a full blown software is expensive, both in terms of money and time.