Bookkeeping question

[David]

I have just started the AAT Bookkeeping qualification, and I have got
my head round the double entry side of things and just beginning to
learn balancing off balance sheets. However, there is one point that I
am unsure of. It is the difference between Accounting Records and
Financial Accounts. I am unsure of the difference between the two.
Can anyone help me please?
Thanks

 

[Troy Steadman]

I have just started the AAT Bookkeeping qualification, and I have got
my head round the double entry side of things and just beginning to
learn balancing off balance sheets.

Balancing the Balance Sheet and calculating the profit in the Profit &
Loss Account results from the process Extracting (adding up) a Trial
Balance.

However, there is one point that I
am unsure of. It is the difference between Accounting Records and
Financial Accounts. I am unsure of the difference between the two.
Can anyone help me please?
Thanks

The Accounting Records are the items which when added together make up
the Trial Balance. The TB is split into Profit and Loss Accounts,
measuring the Profit or Loss of the relevant period (Sales, Purchases,
Postage, Rates, Bank Charges etc etc), and the Balance Sheet,
carriying balances from one period to another (Cash at Bank, Debtors,
Accruals etc etc).

The Financial Statements are the P&L and BS & all the notes and
statements required by law, and you can see loads of these on big
companies' websites.

 

[Troy Steadman]

I have just started the AAT Bookkeeping qualification...

....and AAT is the first step to ACCA which is like being a Chartered
Accountant only *much* better.

You get a big house with a stable, a beautiful wife (Tim's), loads of
cars, a virgin company via Martin, and delightful views of either the
Highlands or the Savacentre, depending on where you live.

 

[Ronald Raygun]

...and AAT is the first step to ACCA which is like being a Chartered
Accountant only *much* better.

You get a big house with a stable, a beautiful wife (Tim's), loads of
cars, a virgin company via Martin, and delightful views of either the
Highlands or the Savacentre, depending on where you live.

Why, with a beautiful wife, would one need a company of virgins?

If Tim's wife were beautiful, he'd be spending more time with her
and less with us.

 

[Nick]

Why, with a beautiful wife, would one need a company of virgins?

If Tim's wife were beautiful, he'd be spending more time with her
and less with us.

Surely if she is taking care of all ACCA trained accountants she will
have little time left for Tim.

 

[Edward Cowling London UK]

I have just started the AAT Bookkeeping qualification, and I have got
my head round the double entry side of things and just beginning to
learn balancing off balance sheets. However, there is one point that I
am unsure of. It is the difference between Accounting Records and
Financial Accounts. I am unsure of the difference between the two.
Can anyone help me please?
Thanks

About £25 an hour

 

[Tim]

I don't think so!

Why, with a beautiful wife, would one need a company of virgins?

If Tim's wife were beautiful, he'd be
spending more time with her and less with us.

We spend 24 hours a day together -
don't forget, we both work from home!

 

[Ronald Raygun]

We spend 24 hours a day together -
don't forget, we both work from home!

OMG, that'd be enough to drive anyone insane.
Er, hang on, ...

 

[Tim]

OMG, that'd be enough to drive anyone insane.
Er, hang on, ...

Mooooo!!

;-)

 

[David]

Mooooo!!

;-)

Thanks for all that info. So far, I have a beautiful wife, a lovely
home, a beautiful daughter, although there are no beautiful views from
my house. I am still working towards the AAT Bookkeeping as a first
step in the direction of a CA. IS this a good move ? I am doing my
studies along side my non financial based job.

Much love to you all.

 

[Ronald Raygun]

Thanks for all that info. So far, I have a beautiful wife, a lovely
home, a beautiful daughter, although there are no beautiful views from
my house.

So the daughter's flown the nest and wife has left you?
No, wait a minute, how can the home be lovely if there are no beautiful
views from the house (unless the home isn't in your house)?

Must try harder. Until you learn how to lie convincingly, without any
glaringly obvious inconsistencies showing through, you'll never become
a good accountant!