#accounting process

[centelliltd]

How Can Outsourcing Help Ease US Accounting Talent Shortage?

The US faces an acute accounting talent shortage due to various factors such as demographic shifts and increasing skill demands. Outsourcing emerges as a strategic solution, providing access to a global talent pool and specialized expertise. Discover the reasons and learn how outsourcing can help businesses, accounting firms, and CPA firms thrive.

[s20marketing]

Cash an Asset: In Balance Sheet

Introduction

Accounting can be a difficult area to master. Whether you are learning accounting to run your own business, or want to make your career in accounting, a thorough study of the process is imperative. This is why we offer a top-of-the-line accounting course in Ahmedabad.

The first step in the journey of accounting courses is to delve into the intricate world of financial statements. One of the most common doubts that arise when exploring financial reposting is, “Is cash an asset?” The treatment of cash as an asset in the balance sheet is a fundamental concept that everyone who steps into accounting needs to learn. In this article, we will take a deep dive into the multifaceted aspects of cash in the balance sheet, so that you can get a thorough and in-depth understanding of the nuances of cash as an asset.

1. The Accounting Process

To understand the importance of cash as an asset in the balance sheet, it is imperative that you first understand and grasp the broader process of accounting. The first step is the systematic recording of financial transactions, creating a summary of this, and presenting the results through financial statements.  

One of the most important of these financial statements is the balance sheet. It essentially portrays a snapshot of the company’s financial position at a given point in time. It is made by systematically listing assets, liabilities, and equity. Cash, in this case, will be in the asset section.

2. Components of Financial Statements

2.1 Balance Sheet

Let’s understand what a balance sheet is.

It is basically the cornerstone of financial reporting. Often referred to as the statement of financial position, it provides a holistic view of the company’s assets and liabilities, portraying its financial health. 

The asset side of the balance sheet encompasses various items, and cash, being a highly liquid asset, holds a prominent position. The inclusion of cash in this section signifies its importance in assessing a company’s liquidity and short-term solvency.

2.1.1 Assets

The asset section is a crucial part of the balance sheet, representing everything a company owns. Assets are typically categorized into current assets and non-current assets.

Current Assets: These are short-term assets expected to be converted into cash within a year. Examples include cash, accounts receivable, and inventory.

Non-Current Assets: These are long-term assets with a life expectancy beyond a year. Examples include property, plant, equipment, and intangible assets.

2.1.2 Liabilities

Liabilities represent a company’s obligations or debts. Similar to assets, liabilities can be classified into current and non-current categories.

Current Liabilities: These are short-term obligations expected to be settled within a year. Examples include accounts payable and short-term debt.

Non-Current Liabilities: These are long-term obligations extending beyond a year. Examples include long-term debt and deferred tax liabilities.

2.1.3 Equity

Equity represents the residual interest in the assets of the entity after deducting liabilities. It is the ownership interest of the shareholders and includes common stock, retained earnings, and additional paid-in capital.

2.2 Cash Flow Statement

While the balance sheet provides a snapshot, the cash flow statement offers a dynamic view of a company’s cash movements over a specific period. It details the sources and uses of cash, categorizing them into operating, investing, and financing activities. Understanding the interplay between the balance sheet and the cash flow statement is crucial for a comprehensive grasp of a company’s financial position and cash management.

4. Importance of Cash in the Balance Sheet

4.1 Liquidity

Cash, as a liquid asset, plays a pivotal role in indicating a company’s liquidity. In the balance sheet, the cash balance serves as a crucial metric for assessing a company’s ability to meet its short-term obligations. A higher cash balance implies a stronger liquidity position, providing the company with a safety net to navigate unforeseen challenges or capitalize on emerging opportunities.

4.2 Operating and Investing Activities

Beyond its role in liquidity, the cash balance reflects a company’s operational efficiency and investment decisions. Positive cash flow signifies healthy business operations, indicating that the company generates more cash than it spends. Conversely, negative cash flow may suggest challenges that require attention, prompting a closer look at operational and investment strategies.

5. Financial Statement Analysis

In Ahmedabad, financial statement analysis courses take students on a deeper dive into the structure of financial statements, including the balance sheet. These courses provide the tools and methodologies to analyze financial statements critically. When it comes to the balance sheet, a nuanced understanding of the placement and significance of cash is integral to evaluating a company’s financial health.

6. Business Accounting and Taxation Courses

Comprehensive knowledge of financial management is further honed through courses covering business accounting and taxation. In Ahmedabad, these courses provide insights into broader aspects of financial reporting and taxation implications. Understanding how cash operates within the balance sheet is a key component, ensuring that students are well-versed in the practical applications of accounting principles.

Conclusion

In conclusion, as students immerse themselves in accounting courses in Ahmedabad, recognizing cash as an asset in the balance sheet is not just a theoretical concept but a practical necessity. This knowledge serves as the foundation for interpreting financial statements, making informed decisions, and contributing to effective financial management. The treatment of cash in the balance sheet is a crucial aspect that shapes the financial landscape of businesses, and its understanding is paramount for aspiring accountants in Ahmedabad.

[itsscaredycat]

timelapse of my latest piece (irl time approx. 4 hours)

[nova-rpv]

a redraw of the first drawing i posted here to celebrate the fact that ive been in tumblr for more than a whole year posting my shit and havent deleted my blog in panic yippee \:D/ (mushy rant in tags)

[lucidowl]

Just encountered someone in the street having a (very) loud conversation about how evolution doesn't make sense because why would her children still have wisdom teeth if they're enough of a problem that she needed to get them removed.

I understand where the confusion is coming from but I don't think it's polite to point out that someone is still alive as a counterpoint.

[calwasfound]

k is for kinship. my piece for hermitzine 9 !

check out everyone else's work; the zine is gorgeous and made with such love :]

(process under "keep reading")

[kirby-the-gorb]

[alwaysbewoke]

[nevvaraven]

If any of you ever end up becoming famous authors in the future and I somehow end up recognising your writing style I pinky promise I’ll take your secret to the grave, no one will know you used to write about fictional dudes deepthroating each other in coffee shop AU’s except you and me 🤝

[jellydragons]

tetra is having a Day

[centelliltd]

Why You Need a Scalable Accounting Process [with Examples]

Business is a dynamic field full of opportunities, challenges, and uncertainties. With a scalable��infrastructure, technology, or operation, it’s easier to navigate the change. So, you can also build a scalable accounting process for the same reason!  

Before we delve into the reasons for scaling your accounting operations, let’s define the concept first. 

Well, “scalability” is not a function or a feature by itself. It represents a fundamental characteristic that empowers an organization, system, or process to effectively manage heightened workloads, increased demand, or expansion.  

Scaling Your Accounting Process Doesn’t Imply a Scale Up Always

A business’s full cycle accounting needs can evolve due to both external and internal factors.External triggers could be changing market conditions or evolving regulations. Whereas your shifting business goals and priorities signify the internal triggers. 

Therefore, it becomes imperative that you are able to adjust accounting tasks and workflow to align with any unexpected events or planned strategic initiatives.   

Markedly, scaling doesn’t always mean upsizing or increasing your capacity. You may also need or choose to hold back sometimes.  

Let’s look at some scenarios for clarity! 

There are times when a company needs to downsize its accounting process. The reasons could be:

Growth: A rapidly growing business might need to add more staff and resources to its accounting department. To keep up with the increased workload! 

Expanding into New Markets: When a business expands into new markets, it may need to modify its accounting process to comply with different tax and accounting regulations. 

Mergers & Acquisitions: When a business acquires another company, it may need to integrate the two companies’ accounting systems. 

Following reasons could compel a business to scale down its accounting process: 

Economic Downturn: During an economic downturn, a business may need to reduce costs by cutting staff or outsourcing certain functions. 

Changes in Industry: Changes in regulations or technology may require a business to modify its accounting process. 

Declining Sales: When a business is experiencing declining sales, cost cutting becomes inevitable to remain profitable.

How the Scaling of an Accounting Process Might Look Like 

Let’s look at three examples of when and why a business needs to scale up or scale down its accounting process.  

Case 1: Restaurant Business Scaling its Accounting Process 

A small restaurant chain with 10 locations plans to add five new locations in the next 12 months. It will be hiring new staff, expanding its menu, adding more suppliers, and investing in accounting software and technology upgrades.    

Case 2: Fashion Retail Business Scaling its Accounting Operation

A fashion retailer operates 50 offline stores and an e-commerce shop nationwide.   It may need to scale up its accounting process if it is launching a new product line, expanding into new markets, or raising funds for expansion. 

On the contrary, the fashion chain may be forced to scale down its accounting activity if it is discontinuing a product line, seasonal demand loss, or closing stores. 

Case 3: Accounting or CPA Firm Scaling its Client Accounting  

An accounting/CPA firm (size regardless) may need to scale up its client accounting process if it is taking on new clients or expanding its service offerings.

The firm might also require additional resources to handle the high workload of the busy tax season and specific projects.    

However, the firm may need to scale down its client accounting process if it is losing clients or experiencing a decrease in demand for its services due to economic downturn or other reasons.  

Challanges of Scaling In-house Accounting  

A scalable accounting process is designed to be flexible enough to meet the changing business needs. Being scalable, it’s easier to sustain or enhance its performance, efficiency, and capacity as required.  

However, building an in-house scalable accounting process can be challenging due to the following reasons: 

Upfront Costs: Setting up an in-house team requires significant initial investments in infrastructure and employee hiring and training. 

Expertise: Finding and retaining qualified accountants can be difficult. In-house teams may lack specialized skills for complex financial tasks. 

Management Overhead: In-house operation requires management oversight.  It can be time-consuming and distracts from core business activities.  

Technology: Ensuring the latest accounting software and data security systems can be complex and costly in-house. 

Adapting to Growth: A business may need to recruit additional staff and invest in infrastructure and technology upgrades in its growth phase. It can be cumbersome and expensive. 

Scaling up your in-house accounting often requires significant capital investment and additional resources. Conversely, scaling down can lead to underutilized staff and wasted efforts. Thankfully, accounting outsourcing provides a flexible and cost-efficient solution in both scenarios.

Outsource Your Way to Scalable Accounting 

Hiring a third-party accounting service brings in so many advantages:   

Resources: Your accounting outsourcing services partner will bring in its expertise, staff, technology and infrastructure. They’ll not be your responsibility anymore.   

Reduced Costs: You don’t have to invest upfront, nor do you need to worry about the ongoing operational expenses. So, you get to save massively.     

Freedom from Daily Supervision:  Your outsourced accounting services provider will perform all the delegated accounting tasks on your behalf. So, you are free from the everyday management burden, while they keep you updated with regular reports and communication.    

Custom Solutions & Flexible Payment Options: You can tie up with a service provider that offers customized solutions and flexible payment packages.   

Quick Scale up or Scale Down: Scalable accounting services maintain a vast stream of resources they can add as per your need. Also, you do not need to sign a binding contract if your business needs are evolving or prone to seasonal and cyclic changes. This allows you to scale up or down quickly when needed, saving you the hassle and financial damages. 

Need a flexible accounting process that adapts to your changing business needs? You can easily achieve a scalable accounting process by outsourcing with Centelli, saving you the hassle and high costs of in-house operation. Get your free consultation today! 

The Bottom Line 

All organizational systems and should be able to adapt to the changing business needs. A scalable accounting function ensures efficiency and supports strategic decision-making, all while managing costs and risks effectively.

So, whether you have an in-house function or choose to outsource your accounting, you may need to scale it at some point.

[hazel2468]

Look-

Anyone who tries telling you that both parties are the same and there is no point in voting? Has a fucking agenda, and it's a nasty one.

Do the Dems disappoint me? Yes, constantly. Do I have gripes with Biden? 100%.

Do I also recognize that he has GOTTEN SHIT DONE and that those things are like. NOT talked about by people my age because it feels better to be angry and constantly demanding better while being unwilling to put up with Average Joe who is ACTUALLY doing things that progressives have been asking for for AGES (putting caps on medication prices, working to cancel student and medical debt, investing in infrastructure and going after inflation, started working on protecting reproductive rights after Trump put in place the shitty judges who wrecked Roe, is trying to go after how weed is scheduled and pardoned all federal offenses, et-fucking-cetera).

Not only do I actually LIKE some of the shit Biden is doing? If Trump gets back in office? People will die. He and his have been OPEN about the fact that they want to go (somehow) even MORE fascist.

Fucking vote. Anyone telling you not to has your worst interests at heart. Be as pissed off as you want, but fucking VOTE. Because we have a chance of continuing to push a president like Biden towards the change we want to see. We have ZERO chance of that with Trump, or someone like him.

[st-hedge]

My Twitter tl very hopefully informed me that it’s the 9 years anniversary of this half finished wonderful game (mgsv) so I’m gonna bother y’all with this painting one last time (and corner some of u into listening to music I like)

[mochiwei]

Got to share my two favorite ways to render an illustration (featuring Link) with folks at Comix Accountability Club! This workshop was so fun!

[gingermintpepper]

As usual I read your tags always and so you said Apollo did not ask for resurrection of Asclepius and Hyacinthus so i just wanted to share this. About Asclepius death I read it on theoi.com, that earlier authors don't make him resurrect as a god but that's a later development mentioned only by Roman authors like Cicero, Hyginus and Ovid. But still Apollo has a role in Ovid's version

Ovid, Fasti 6. 735 ff (trans.Boyle) (Roman poetry C1st B.C. to C1st A.D.) : Clymenus [Haides] and Clotho resent the threads of life respun and death's royal rights diminished. Jove [Zeus] feared the precedent and aimed his thunderbolt at the man who employed excessive art. Phoebus [Apollon], you whined. He is a god; smile at your father, who, for your sake, undoes his prohibitions [i.e. when he obtains immortality for Asklepios].

So here it is actually because of Apollo the decision was taken to resurrect him as god. And with Hyacinthus, I don't think I've read about Artemis playing the primary role. I know in Sparta there was a picture of Artemis, Athena and Aphrodite carrying Hyacinthus and his sister to heaven.

This is not on theoi.com but I saw on Tumblr it's from Dionysiaca by Nonnus

Second, my lord Oiagros wove a winding lay, as the father of Orpheus who has the Muse his boon companion. Only a couple of verses he sang, a ditty of Phoibos, clearspoken in few words after some Amyclaian style: Apollo brought to life again his longhaired Hyacinthos: Staphylos will be made to live for aye by Dionysos.

So since he is singing inspired by amyclean stories it probably means in that place it was believed Apollo was the one to bring back his lover to life.

Apollo as god of order was very important so i think it shows how special these people (and admetus too) were to him that he decided to go against the order for them 🥺

ANON!! Shakes you like a bottle of ramune!! BELOVED ANON!!!!! I'm littering your face with kisses, I'm anointing you with olive oil and honey - you absolutely made my night with this because, not only did I get the pure serotonin shot of having someone interact with my tags (yippee, wahoo!!) I also got to have that wonderful feeling of "oh wow, have I misunderstood something that was integral to my understanding of this myth/figure this whole time or is this a case of interpretational differences?" which is imo vital for my aims and interests as someone who enjoys mythological content and literature.

I'll preface my response with this: Hyacinthus is by far the hardest of these to get accounts for because his revival itself, as you very astutely point out, is generally accounted for in painting/ritual format which muddies the waters on who interceded for what. I wasn't actually familiar with that passage from the Argonautica - and certainly didn't remember it so thank you very much for bringing it to my attention!

That said, what I've come to understand, both about Hyacinthus and about Asclepius is that in the accounts of their deaths, Apollo's position is startlingly clear.

For Hyacinthus, it is established time and again that Apollo would have sacrificed everything for him - his status, his power, his very own immortality and divinity. Ovid writes that Apollo would have installed him as a god if only he had the time:

(Ovid. Metamorphoses. Book X. trans. Johnston)

Many other writers too speak of how Apollo abandoned his lyre and his seat at Delphi to spend his days with Hyacinthus, but they also all agree that when it came to his death - he was powerless. Ovid gives that graphic account of Apollo's desperation as he tries all his healing arts to save him to no avail:

(Ovid, Metamorphoses Book X. Apollo me boy, methinks him dead. trans Johnston)

Bion, in one of his fragments, writes that Apollo was "dumb" upon seeing Hyacinthus' agony:

(Bion, The Bucolic Poets. Fragment XI. trans Edmonds)

Even Nonnus in the Dionysiaca speaks constantly of Apollo's helplessness in the face of Hyacinthus' fate where he writes that the god still shivers if a westward wind blows upon an iris:

and when Zephyros breathed through the flowery garden, Apollo turned a quick eye upon his young darling, his yearning never satisfied; if he saw the plant beaten by the breezes, he remembered the quoit, and trembled for fear the wind, so jealous once about the boy, might hate him even in a leaf...

(Nonnus, Dionysiaca, Book 3. trans Rouse)

And the point here is just that - Apollo, at least as far as I've read, cannot avert someone's death. He simply can't. Once they're already dead - once Fate has cut their string - all Apollo's power is gone and he can do nothing no matter how much he wants to. And this is, as far as I know, supported with the accounts of Asclepius as well!

Since you specifically brought up Ovid's account, I'll also stick only to Ovid's account but in Metamorphoses when we get Ovid's version of Coronis' demise, he writes that Apollo intensely and immediately regrets slaughtering Coronis. He regrets it so intensely that he, like he does with Hyacinthus, does his best to resuscitate her:

(Ovid, Metamorphoses Book Two. Apollo's regret)

And like Hyacinthus, when it becomes clear that what has happened cannot be undone, Apollo wails:

(Ovid, Metamorphoses Book Two. Apollo wept.)

Unlike his mother, Asclepius in her womb had not yet died and so, with the last of Apollo's strength, he does manage, at least, to save him.

(Ovid, Metamorphoses Book Two. Apollo puts the 'tearing out' in Asclepius.)

But it goes further than even that because Ocyrhoe, Chiron's daughter, a prophetess who unduly gained the ability to directly proclaim the secrets of the Fates, upon seeing the baby Asclepius, immediately prophesies his glory, his inevitable death and then his fated ascension:

(Ovid. Metamorphoses, Book Two. Ocyrhoe's prophecy. trans Johnston)

Before she too succumbs to her hubris and is transformed by the Fates into a horse so she can no longer speak secrets that aren't hers to share.

These things ultimately are important because it establishes two very important things: 1) Apollo can't do anything in the face of the ultimate Fate of mortals, which is, of course, death and 2) even when Apollo is Actively Devastated, regretful, yearning, mournful, guilty or some unholy combination of all of the above, when someone is dead, he accepts that they are gone. Even if he is devastated by it, even if he'll cry all the rest of his days about it - if they're dead? Apollo lets them go. In Fasti, when Zeus brings Asclepius back, he does not say Apollo asked him to - Zeus, or well, in this case Jove, brings Asclepius back because he wants Apollo to stop being mad at him.

(Ovid, Fasti VI. Apollo please come home your father misses you. trans. A.S Kline)

Even Boyle's translation which you used above in your findings hints that Zeus made Asclepius a god because he wanted Apollo to stop grieving. (i.e 'smile at your father', 'for your sake [he] undoes his prohibitions')

And like, Apollo was deeply upset by Asclepius' death - apart from killing the Cyclops in anger, in book 4 of the Argonautica, Apollonius writes that the Celts believe the stream of Eridanus to be the tears Apollo shed over the death of Asclepius when he left for Hyperborea after being chastised by Zeus for killing his Cyclops:

But the Celts have attached this story to them, that these are the tears of Leto's son, Apollo, that are borne along by the eddies, the countless tears that he shed aforetime when he came to the sacred race of the Hyperboreans and left shining heaven at the chiding of his father, being in wrath concerning his son whom divine Coronis bare in bright Lacereia at the mouth of Amyrus.

It all paints a very clear picture to me. Apollo did not ask for either of them to be brought back. Though bringing them back certainly pleased and delighted him, they are actions of other gods who are moved by Apollo's grief and mourning and seek to mollify him. Him not asking doesn't mean he didn't want them back which I think is a very important distinction by the by, but it simply means that Apollo knows the natural order of things and, even if it hurts, he isn't going to press his luck about it.

Which, of course, brings us to Admetus. And I'm really not going to overcomplicate this, Admetus is different because, very vitally, Admetus is not dead. Apollo can't do a thing once Fate has been carried out and Death has claimed a mortal but you know what he absolutely can do? Bargain like hell with the Fates before that point of inevitability. And that's what he does, ultimately for Admetus and Alcestis. He sought to prolong Admetus' life, not revive him from death or absolve him from death altogether and even after getting the Fates drunk, he's still only able to organise a sacrifice - a life for a life - something completely contingent on whether some other mortal would be willing to die in Admetus' place and not at all controllable by Apollo's own power.

All of these things, I think come back to that point you made - that Apollo's place as a god of order is very important and therefore these people are very special to him if it means he's willing to go against that order but, I also wish to challenge that opinion if you'd let me. Apollo's place as a god of order is very important and therefore, I would argue, that it is even more important that it is shown that he does not break the divine order, especially for the people that mean the most to him. The original context of my comments which started this conversation were on this lovely, lovely post by @hyacinthusmemorial which contemplated upon Asclepius from the perspective of an Emergency Medical personnel and included, in their tags, the very poignant lines "there's something about Apollo letting go when Asclepius couldn't that eats my heart away" and "you do what you can, you do your best, but you don't ever reach too far" and I think that's perfectly embodied with the Apollo-Asclepius dichotomy. Apollo grieves. He wails, he cries, he does his best each and every time to save that which is precious to him but he does not curse their nature, he does not resent that they are human and ultimately, he accepts that that which is mortal must inevitably die. There is nothing that so saliently proves that those who uphold rules are also their most staunch followers - if Apollo wants to delight in his place as Fate's mouthpiece, he cannot undo Fate. And, if even the god of healing and order himself cannot undo death, what right does Asclepius, mortal as he is, talented as he is, have to disrespect it?

The beauty of these stories isn't that Apollo loved them enough to bring them back. The beauty is that Apollo loved them enough to let them go.