A comprehensive guide on accounting restrictions
It is considered the primary goalFor financial accountingIt is the delivery of financial information to multiple parties so that this information is used properly
To achieve this goal, the accountant performs many successive steps and procedures that are known among the accountants community as the accounting cycle
Which includes expenses and expenses and is directly restricted according to different types of restrictions that are accurately classified to help achieve accounting goals
In order to register the accounting registration and open an account for each person who deals with the specified projects and this account is comprehensive for all transactions as well as openingAccountsFor all types of operations related to this project.
Types of accounting restrictions:
The divisions of accounting restrictions vary according to what is required of them, which contribute to achieving the goals of accounting procedures. These types include:
Divide in terms of multiple ends and is used in the case of multiple limbs of the registration, which is that the division takes place between the simple restriction and it includes one account of the debtor and one account in the creditor, and the complex restriction, which is the restrictions that are multiple accreditation and divides the number of accounts of the limbs of the registration.
The partition is in terms of the purpose of the registration, and here the restrictions are divided between the restrictions of proof of operations, the restrictions of deportation, or the restrictions of settlements.
Division & nbsp; In terms of the timing of the restrictions procedures, which are divided into opening restrictions and expressing the beginning of the accounting period, and others under a closure, which are the procedures that take place at the end of the accounting period.
The division according to the effect on the financial statements is that the restrictions be divided according to the financial statements or the regular restrictions that affect the regular accounts.
Government accounting restrictions:
The restrictions of government accounting are one of the aspects of accounting as it contains the foundations and scientific principles regarding the registration and clearance of financial procedures related to government activities; And that
Government accounting restrictions have several goals
RestrictionsGovernment accountingIt has many properties such as
Government accounting aims to provide a service to society in exchange for a symbolic or free of charge, such as the Ministry of Health and Education, and it is not among its goals. Ironing in the Ministry of Higher Education.
There is a difference between assets and opponents and there is no capital for government units, as the state turns its activity periodically every year in light of estimates that are provided to public expenditures and revenues.
Restrictions of the unified accounting system:
The accounts of the accounting system are a set of arrangements for recording accounting data independently at the level of economic unit as well as preparing accounting lists andFinal AccountsIn addition to planning budgets, in a framework that is determined from the foundations, rules, terminology and definitions in a way that helps to achieve the specific goals.
How to make accounting restrictions, financial statements and financial analysis
In the coming lines, we clarify the necessary steps to prepare accounting restrictions, financial statements and financial analyzes in a scientific way that helps to prepare financial systems to follow them in collecting data and proving them to improve the performance of the company and the ability to follow the movement of expenses and revenues accurately.
Read also:All you want to know about the documentary course
How to write the registration in the daily notebook
The dual registration method is used to write down all accounting transactions, Like accounting restrictions for salaries and wagesfor example , So that each registration is a financial movement from one of the accounts to another account, as well as the matterFor the daily notebookWhich transactions are recorded on a daily basis, to be deported later to the professor's book.
And the boxes are on this method:
Example:
From h/ company offices (meaning from the debtor account)
To mentioned (to creditors)
H/ Bank
H/ creditors (Mobilia Al Saad)
(Buy offices for new employees, half of them with check and the rest for the sake)
What after recording accounting restrictions?
Accounting CycleIt passes in several stages, its registration begins with the daily notebook after the treatmentThe creditor and the debtorAnd the daily notebook may be general or dedicated to sales bills, arrests, settlements, and so on.
Then the deportation is made to the professor's book, which is a notebook for permanent, not temporary restrictions as daily restrictions, the work of the inventory, accounting settlements and data processing to avoid previous errors, and in the end the data display phase comes to benefit from all concerned in the form of accounting reports.
What are the types of errors that occur in accounting restrictions?
The errors when registration of restrictions affect the conduct of accounting operations, which requires accuracy when registered, and the review of the correction, and the most famous of these errors:
(1) Delete or omitted: In the event that the recording of a process is forgotten, or some details are forgotten.
(2) Certificate: It is the error in the calculations of hitting, offering, collecting and dividing.
(3) Technical: These are the most related to the accounting aspects, and it is produced when the accountant is not understood or a mistake that is mistaken when using the rules of accounting.
(4) Miscellaneous: That there is more than one mistake that they see them outwardly, but this does not negate the effect of the actual error whose effect reaches the issuance of inaccurate financial lists.
(5) Biblical: Treachery of some restrictions or writing the accounting restriction from/ to the opposite way, and other errors resulting from writing.
The errors are corrected by accounting restrictions such as the reverse restriction, not by deletion.
Explanation of accounting restrictions
Accounting restrictions vary according to their purpose, as well as according to the company's activity such as
In the coming lines, we explain more details about all these activities and the financial events that occur to the company, as it can be classified from one of these activities;
Financial activities:
In this type, the employer is obligated to finance it and becomes a long -term financing source, whether through capital or through loans.
Investment activities:
In investment activities, the owner of the institution is often the one who uses financing sources in long -term investments such as buying buildings, cars, equipment and others.
Operating activities:
In this type of activities, the company sells goods or provides a service to achieve revenues and meet them with expenses and time period to achieve profit goals.
Customer account restrictions
Customer accounts restrictions are bills and amounts due to the company on customers, and they mean that the company sold goods or a service offering to the customer. The payment has not yet been collected. Often these payments are due within a short period of time within a few days to less than a year.
Customer account restrictions need most companies that accept dealing with customers in the term, especially repeated customers who are released periodically to facilitate payment methods for customers and thus increase the percentage of sales.
Sometimes companies provide the payment feature after receiving the service, and this is done periodically, such as the phone companies, as the company issues the bill after the customers use the service provided and the company records the bill on the customer account when issuing the bill until the customer pays and then the company reduces the customer account at value The customer pays.
The most important accounting restrictions
Try the program nowThe process of determining the importance of accounting restrictions is done according to the needs and goals required of them. Accounting restrictions in tourism companies It differs from the accounting restrictions of schools from the restrictions of industrial companies, etc. In this part we explain some of the most important accounting restrictions with examples of accounting restrictions;
How can UDN make your accounting restrictions?
Udn restrictions are done in two ways, either automatic or manual:
The manual registration may be made for the available treatment through the system properties and automatically registered, or other treatment, until you make sure that all your revenues and expenses are registered.
