scholarly journals CALCULATION OF FINANCIAL INDICATORS IN A SINGLE-ENTRY ACCOUNTING SYSTEM

2015 ◽  
Vol 1 (7) ◽  
pp. 17
Author(s):  
Iluta Arbidāne ◽  
Gunta Poļaka ◽  
Oksana Ruža
Keyword(s):  
Performance Analysis ◽  
Economic Performance ◽  
Financial Analysis ◽  
Synthesis Method ◽  
Accounting System ◽  
Financial Indicators ◽  
Accounting Systems ◽  
Accounting Data ◽  
Single Entry ◽  
Double Entry

The company’s accounting data are a base for the analysis of its business performance. As provided by the legislation, the company can choose whether the accountancy is maintained in a single-entry or in a double-entry system. Exploiting the financial analysis formulas, an economic performance analysis could be easily enough performed by the enterprises keeping their accounts in accordance with the accrual principle. If the accounting registers are kept in a single-entry system, data provided in the financial reports cannot be used to perform the analysis employing the formulas of the financial analysis. Currently, in Latvia, the single-entry accounting systems are commonly used by the farming enterprises. These businesses often apply for various funding, hence the analysis of diverse indicators is required, though it cannot be performed using the existing financial report data. The paper aims to identify the differences between a single-entry and a double-entry accounting systems, to explore opportunities to modify and to adjust the formulas calculating the financial indicators, so they can be used in a single-entry accounting system. As a result of the research, there has been developed a methodology that allows relating the cash-based accounting indicators with the accrual-based accounting indicators. Consequently, the appropriate information could be obtained for the economic performance analysis by the companies using the single-entry accounting system. Applied research methods: the monographic or descriptive research method as well as the synthesis method, the modelling and the document analysis method.

scholarly journals Double entry bookkeeping vs single entry bookkeeping

2016 ◽  
Vol 73 (2) ◽  
pp. 282
Author(s):  
Ileana Andreica
Keyword(s):  
Financial Management ◽  
Comparison Method ◽  
Accounting System ◽  
Accounting Systems ◽  
Legal Personality ◽  
Advantages And Disadvantages ◽  
Family Enterprises ◽  
Hypothetical Data ◽  
Single Entry ◽  
Double Entry

Abstract: A financial management eficiently begin, primarily, with an accounting record kept in the best possible conditions, this being conditioned on the adoption of a uniform forms, rational, clear and simple accounting. Throughout history, there have been known two forms of accounting: the simple and double entry. Romanian society after 1990 underwent a substantial change in social structure, the sector on which put a great emphasis being private, that of small manufacturers, peddler, freelance, who work independently and authorized or as associative form (family enterprises, various associations (owners, tenants, etc.), liberal professions, etc.). They are obliged to keep a simple bookkeeping, because they have no juridical personality. Companies with legal personality are required to keep double entry bookkeeping; therefore, knowledge and border demarcation between the two forms of organisation of accounting is an essential. The material used for this work is mainly represented by the financial and accounting documents, by the analysis of the economic, by legislative updated sources, and as the method was used the comparison method, using hypothetical data, in case of an authorized individual and a legal entity. Based on the chosen material, an authorized individual (who perform single entry accounting system) and a juridical entity (who perform double entry accounting system) were selected comparative case studies, using hypothetical data, were analysed advantages and disadvantages in term of fiscal, if using two accounting systems, then were highlighted some conclusion that result.

Khipu

Paid ◽  
2017 ◽  
Author(s):  
Gary Urton
Keyword(s):  
Data Storage ◽  
Accounting System ◽  
Accounting Systems ◽  
Numbering System ◽  
Record Keeping ◽  
Similar Information ◽  
History Of ◽  
Double Entry

Khipu are sets of knotted strings used by the pre-Colombian Inkan Empire for record keeping. The chapter situates khipu in the history of accounting systems globally, and makes a case that some khipu may have conveyed similar information as double-entry bookkeeping, developed around the same time in Europe. Khipu cords were made from spun or plied cotton or llama or alpaca fibers and display three types of knots organized in complex arrangements of tiered clusters. Cords were spun with separate strings in specific patterns, too, allowing for a great deal of data storage. The Inka did not possess writing but used this accounting system and a decimal numbering system conveyed through knots to administer the empire. Double-entry bookkeeping in Europe contributed to the rise of capitalism; that double-entry khipu did not may be attributable to the Inka’s conquest by Spain in 1532.

Accounting in state-owned companies operated for the production and sale of alcohol in Russia in the fifteenth-seventeenth centuries

2019 ◽  
Vol 24 (3) ◽  
pp. 425-443 ◽  
Author(s):  
Viatcheslav Sokolov ◽  
Svetlana Karelskaia ◽  
Ekaterina Zuga
Keyword(s):  
Seventeenth Century ◽  
Accounting System ◽  
Alcohol Production ◽  
Single Entry ◽  
History Of ◽  
Double Entry

The purpose of this study is to research the accounting method used in state-owned companies operated for alcohol production and sale in Russia in the fifteenth–seventeenth centuries. Such an accounting method was distinguished by a variety of registers and entries according to a single-entry bookkeeping system. By the seventeenth century, this method had provided a framework for the emergence of a complex accounting system based on the principles of cameral accounting. This study presents the history of an accounting method used in state-owned companies in Russia before the advent of double-entry bookkeeping.

of the information given to the shareholders, precautions to take for upward appraisal of capital assets, choice of an investment, and dividend policy. In order to raise enough capital for its business, the Company had to inform a growing number of shareholders, which soon became inconsistent with the managers’ freedom to deal with ac­ counting information according to their own needs. The resoultion of this problem led to the distinction between standard­ ized financial accounting for external and management account­ ing for internal use. As it became more and more efficient and advanced, the accounting system led to its own splitting. CONCLUSION Compared to most of the firms, Saint-Gobain had to face very early (in the first half of the 19th century) the problems raised by the setting up of a management accounting system. However, it was not until 1820, 155 years after its creation, that it adopted double entry bookkeeping which included the calculation of costs. This evolution is mainly due to the spreading of the Industrial Revolution in France, which was responsible for the abolition of privileges and the growth of competition in the field of glass pro­ duction. During the period 1820-1880, the cost accounting system had been gradually improved, without any regular outside coercion, according to the needs of the management alone. This leads to two conclusions and two research questions. In 1880, the accounting system facilitated the reckoning of full costs with methods and procedures that are still in use (alloca­ tion of the overhead with the use of activity center accounts, up-to-date transfer pricing methods, analysis of the relationship be­ tween depreciation, dividends and investments, etc ). This full cost method is now over one hundred years old. The development and the mastering of that cost accounting system were absolutely necessary to start the next stage, that is to say the use of those costs to prepare estimates of costs and investments. That stage took place over four decades (1890 to 1930) and led to real budget control towards the end of the Second World War. It should be recognized that the accounting systems of a given period can be very different from one another, which is particu­ larly true in the 19th century, therefore research should look at the variables on which the accounting system of each firm depends. Among the internal ones, the size of the firm, the culture of its

2014 ◽  
pp. 267-267
Keyword(s):  
19Th Century ◽  
Industrial Revolution ◽  
Transfer Pricing ◽  
Cost Accounting ◽  
Accounting System ◽  
Accounting Systems ◽  
Cost Accounting System ◽  
The Cost ◽  
Double Entry ◽  
The 19Th Century

The development of a classification model of accounting in the digital economy

2020 ◽  
Vol 2 (2) ◽  
pp. 31-43
Author(s):  
Aleksei Kovalev
Keyword(s):  
Data Model ◽  
Economic Activity ◽  
Accounting Information ◽  
Classification Model ◽  
Multidimensional Data ◽  
Accounting System ◽  
Accounting Data ◽  
Multidimensional Data Model ◽  
Double Entry ◽  
Multidimensional Representation

A multidimensional classification scheme and a semantic multidimensional accounting data model are defined in this article. Instead of accounts, multidimensional accounting uses categories of economic activity. The proposed multidimensional data model is more flexible than the traditional account model and allows you to expand the capabilities of accounting, taking into account the different needs of users of accounting information. The multidimensional data model allows you to expand the capabilities of accounting, taking into account the different needs of users of accounting information. To create a multidimensional accounting system, the categories of economic activity registered in accounting have been determined, the concept of double entry and balance in a multidimensional representation (probalance) has been formulated. The features of planning in a multidimensional accounting system have been described and the implementation of the financial results plan has been considered.

The birth of a modern public sector accounting system in France and Britain and the influence of Count Mollien

2001 ◽  
Vol 6 (1) ◽  
pp. 75-101 ◽  
Author(s):  
Marc Nikitin
Keyword(s):  
Public Sector ◽  
Accounting System ◽  
Financial Systems ◽  
Accounting Systems ◽  
Public Sector Accounting ◽  
Revenue Streams ◽  
Double Entry

Under theAncien Régime France, the collection of taxes was a matter entrusted by the King to businessmen. After several unfruitful attempts to exercise greater control over his revenue streams, the King finally introduced reforms in 1788 to both centralise the Treasury and to use double-entry bookkeeping. TheRévolution confirmed this orientation and, after 1815, a modern public sector accounting system was progressively established in order to service the nascent nation. Soon later, Britain also started to rebuild its public sector accounting system and, as will be shown, a mutual French-British influence existed in the building of the national financial systems. Behind these modern public sector accounting systems lies the influential role played by Count Mollien, both in France and Britain.

Using a Web-Based Accounting System for Teaching Accounting System Design and Implementation

2006 ◽  
Vol 20 (2) ◽  
pp. 65-79 ◽  
Author(s):  
Pao-Chuan (Paul) Lin ◽  
L. Murphy Smith
Keyword(s):  
System Design ◽  
Systems Design ◽  
The Internet ◽  
Accounting System ◽  
Accounting Systems ◽  
Web Based ◽  
Accounting Data ◽  
Knowledge And Skills ◽  
Design And Implementation ◽  
The Web

In this project, each student customizes an accounting system using a Web-based accounting package that allows users to enter accounting data anytime anywhere via the Internet. The student also prepares system documentation so that other end-users can efficiently use the system. Finally, the student provides a report that explains whether the Web-based accounting package has all the required features for his or her business. This project helps students learn accounting systems from the enterprise perspective instead of the piecemeal account approach. Results indicate that students significantly improve their knowledge and skills regarding systems design and implementation.

management, and its type of production seem important. Among the external ones, the legal environment, the level of technology used, the scarcity (or abundance) of capital, etc.. . . For future research in this area, there remains plenty of work on hand and the firms’ archives have not divulged all of their secrets. The double entry bookkeeping system has been established since the time (14th and 15th century) when it was indispensable to the merchants; the industrial cost accounting system became established at the same time as the Industrial Revolution, the be­ ginning of the 19th century in France. The regulation of account­ ing standards developed gradually with the growing intervention of governments in the capital accumulation process (between the two World Wars). Future research should consider the relation­ ship between the dominating capital accumulation procedures (commercial, industrial or social) and the dominating accounting systems of a period. Perhaps dominating capital accumulation procedures determine the way firms compete, which in turn deter­ mines their need for information, and therefore their accounting system.

2014 ◽  
pp. 268-335
Keyword(s):  
Capital Accumulation ◽  
Industrial Revolution ◽  
Future Research ◽  
Accounting System ◽  
Accumulation Process ◽  
Accounting Systems ◽  
15Th Century ◽  
Cost Accounting System ◽  
Double Entry ◽  
The 19Th Century

scholarly journals PRIVATIZATION AND MANAGEMENT ACCOUNTING SYSTEMS CHANGE: THE CASE OF THE 19TH CENTURY SPANISH TOBACCO MONOPOLY

2002 ◽  
Vol 29 (2) ◽  
pp. 31-57 ◽  
Author(s):  
Marta Macías
Keyword(s):  
Private Sector ◽  
The State ◽  
Accounting System ◽  
Accounting Systems ◽  
Explanatory Factors ◽  
Management Accounting Systems ◽  
Double Entry ◽  
The 19Th Century ◽  
Tobacco Monopoly

This paper examines changes to the accounting system of the Spanish tobacco monopoly in 1887, following the decision by the state to lease the publicly owned and state-run monopoly to a private-sector company. The switch to private-sector management generated a fundamental change in the demands made of the accounting system. As a result, double-entry bookkeeping and a new method of calculating costs were implemented. The paper discusses the motives behind the design of the new accounting system and its consequences using the framework provided by agency theory. It highlights the need to consider the role of the capital structure of the firm and the state as explanatory factors for both the parameters and uses of cost accounting information.

scholarly journals APPLICATION OF TAX PRIORITIES IN MANAGEMENT ACCOUNTING

2021 ◽  
Author(s):  
Nataliia Havrilenko ◽  
◽  
Olena Hryshchenko ◽  
Natalia Kozitskaya ◽  
◽  
...  
Keyword(s):  
Management Accounting ◽  
Financial Accounting ◽  
Tax Burden ◽  
Accounting System ◽  
Tax Expenditures ◽  
Accounting Data ◽  
Tax Cost ◽  
Tax Payments ◽  
Double Entry ◽  
Tax Costs

In the process of studying the methodological approaches used in assessing the tax burden, it was concluded that it is advisable to use a comprehensive assessment of tax costs in their relationship with tax-dependent places of expenditure, cost centers and responsibilities that cause tax liabilities, and this allows us to expand the cognitive value of the analysis of the profitability of different species. The lack of direct interdependence of the tax burden of enterprises as economic entities with the objects of management accounting in the accounting system leads to the inability to analyze the level and optimize the amount of tax expenditures. In this regard, the identification and justification of the principles of selection in the management accounting of objects of responsibility for tax costs that arise, allows to increase the informativeness of management accounting for these costs and establish the relationship between specific taxes and centers of responsibility for tax base formation. The article highlights the peculiarities of the formation of information on tax expenditures, which make it possible to model the accounting mechanism for the tax burden in the management accounting system. Selected accounting and analytical indicators that directly or indirectly affect the amount of tax payments and are interrelated with the functional responsibility of managers at different levels. The peculiarities of the distribution of tax expenses between the objects of management accounting are revealed, in which each of the objects of management is the object of accounting and assumes part of the tax cost. A typical mechanism for obtaining accounting data for managing tax expenditures from financial accounting data using accounting methods is considered. The study of management accounting methods in relation to the tax burden of the enterprise has influenced the search for new forms of evaluation of the results of accounting for tax expenditures in order to apply them in the analysis of tax costs. The existence of interrelation between accounting entries, which reflect the accrual of taxes in financial accounting, with the analytical features of management tax accounting. As a result of the use of accounts and double entry, the information resource obtained on the basis of primary documents is sent to an independent system of administrative accounts.

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