It may seem quite easy to define exactly what profit and loss exactly it is. Of course I will define it like this. The profit can be called different for the beginning. It is sometimes called net income or net income. Companies that sell products or services generate profits from controlling the incidental costs of running business from these products and services sales and profits can also be said to return on investment, or ROI it can. While some definitions restrict ROI to investment in securities such as stocks and bonds, many companies see this short-term and long-term performance, this profit is also sometimes taxable income and It is called.
It is the work of accounting and financial experts to evaluate the company's profit and loss. They need to create both and know what the results on both sides of what business equation are. They decide what the net assets of the company is. Net assets is the amount obtained from deducting the company's debt from its assets. In private companies this is also possessed by the owner's equity and publicly held, since what remains after all the bills are paid is simply to belong to the owner to put it In a company, this profit is returned to shareholders in the form of dividends. In other words, all liabilities have the first complaint of money made by the company. What is left is profit. It is not derived from an element. Net assets are determined after all liabilities have been deducted from all assets, including cash and property.
It is obviously the purpose of all businesses to show benefits on a balance sheet, or positive numbers. That is what our economy and society are built on. It will not always work that way. Change economic trends and consumer behavior, it can not always predict these and what income they have company performance.
Small tits.
There are many different carriers in the area of accounting ranging from entry level bookkeeping to the company's chief financial officer. In order to achieve a position with more responsibility and higher salary, you have a degree in accounting, but also necessary to achieve various professional designations.
One of the major milestones among any accountant's career is to become a certified public accountant or certified public accountant. To become a CPA, I have to go to the major university in accounting. In addition, it is necessary to pass the national certified public accountant exam. There are also several employment experiences necessary for the CPA company. It changes from state to state, but this is generally one to two years. If you meet all these requirements, specify a certificate as a CPA and give you a certificate that allows you to provide your service to the public
Many Certified Public Accountants consider this step to the career of their own. Chief accountants of many offices are called controllers. The controller is in charge of the management of the entire accounting system at business stay on accounting and tax law to maintain the legal company and prepare the financial statements
The controller is in charge of financial planning and budgeting. In some companies the only accounting professionals became washers of chefs and bottles. As the size and complexity of the business grows, a layer of personnel needs to be added to handle the work generated from growth. Other areas of the company are also affected by growth and judge how much additional salaries can be paid without adversely affecting growth and profits
The controller is also responsible for preparing the tax return for the business. In large organizations, controllers are responsible for wide-ranging goals of growth and profit, report finance to the chief financial officer implementing the appropriate strategy to achieve the goal Finance
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