Amazines Free Article Archive
www.amazines.com - Tuesday, January 21, 2020
Read about the most recent changes and happenings at Amazines.com
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Google
Subscriptions Manage Ezines
CATEGORIES
 Article Archive
 Advertising (133326)
 Advice (160998)
 Affiliate Programs (34736)
 Art and Culture (73698)
 Automotive (145681)
 Blogs (75065)
 Boating (9841)
 Books (17218)
 Buddhism (4125)
 Business (1328650)
 Business News (426319)
 Business Opportunities (366271)
 Camping (10962)
 Career (72737)
 Christianity (15846)
 Collecting (11637)
 Communication (115053)
 Computers (241955)
 Construction (38999)
 Consumer (49681)
 Cooking (17061)
 Copywriting (6568)
 Crafts (18205)
 Cuisine (7539)
 Current Affairs (20394)
 Dating (45781)
 EBooks (19687)
 E-Commerce (48204)
 Education (185261)
 Electronics (83503)
 Email (6395)
 Entertainment (159840)
 Environment (28938)
 Ezine (3039)
 Ezine Publishing (5446)
 Ezine Sites (1550)
 Family & Parenting (110901)
 Fashion & Cosmetics (196391)
 Female Entrepreneurs (11842)
 Feng Shui (130)
 Finance & Investment (310288)
 Fitness (106202)
 Food & Beverages (62874)
 Free Web Resources (7938)
 Gambling (30226)
 Gardening (25112)
 Government (10514)
 Health (629624)
 Hinduism (2205)
 Hobbies (44046)
 Home Business (91561)
 Home Improvement (251374)
 Home Repair (46145)
 Humor (4825)
 Import - Export (5453)
 Insurance (45130)
 Interior Design (29559)
 International Property (3485)
 Internet (190991)
 Internet Marketing (146346)
 Investment (22826)
 Islam (1167)
 Judaism (1356)
 Law (80519)
 Link Popularity (4592)
 Manufacturing (20842)
 Marketing (98788)
 MLM (14136)
 Motivation (18213)
 Music (27005)
 New to the Internet (9480)
 Non-Profit Organizations (4048)
 Online Shopping (129617)
 Organizing (7803)
 Party Ideas (11856)
 Pets (38079)
 Poetry (2234)
 Press Release (12676)
 Public Speaking (5618)
 Publishing (7523)
 Quotes (2407)
 Real Estate (126633)
 Recreation & Leisure (95291)
 Relationships (87564)
 Research (16159)
 Sales (80325)
 Science & Technology (110227)
 Search Engines (23460)
 Self Improvement (153103)
 Seniors (6233)
 Sexuality (35943)
 Small Business (49288)
 Software (82996)
 Spiritual (23468)
 Sports (116086)
 Tax (7658)
 Telecommuting (34068)
 Travel & Tourism (307493)
 UK Property Investment (3121)
 Video Games (13428)
 Web Traffic (11728)
 Website Design (56833)
 Website Promotion (36572)
 World News (1000+)
 Writing (35776)
Author Spotlight
ELLIOT CHANG

Financial analyst and author writing on economy and business. ...more
ADRIAN JOELE

I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
JIM TURNER

Jim Turner is a USA based author of Legal issues related to estate planning, will & trust , busyness...more
ANISH SAH

My Name is Anish Sah, I am an Internet Marketing and SEO Expert, Social Media Guru and young Entrepr...more
SHOVON JOARDER

Shovon Joarder has been working as Freelance Marketing Project Manager for over four years. He also ...more


The Process Of Tax Reconciliation by Vikram kumar





Article Author Biography
The Process Of Tax Reconciliation by
Article Posted: 06/27/2013
Article Views: 60
Articles Written: 10909
Word Count: 600
Article Votes: 0
AddThis Social Bookmark Button

The Process Of Tax Reconciliation


 
Business
The realm of accounting is one that people who have no affinity for numbers typically stay away from. Obviously, most people fall into that category otherwise the services of accountants would not be in such great demand. Tax reconciliation is an important part of the services provided by trained accountants, and it is an essential process to ensure proper book-keeping. Reconciliation, in general accounting terms, is to match the various entries in the account books such that the amount of money recorded leaving an account is equal to the amount of money actually spent. If, for example, money were drawn from an account to purchase low-valuation energy assets, then that amount would need to be reconciled with the actual monetary cost of those assets.

Reconciliation is important because it is a key principle of accounting and business that you must be able to account for all the money that enters or leaves a company. This ensures that you know where all of the money that belongs to the company is at all times, and is designed to prevent the managers or other employees of the company from misusing funds or redirecting it for their own personal benefit.

Reconciliation is also a necessary precursor to important financial processes such as the consolidation of balance sheets. Balance sheets are statements that contain all of the essential financial information regarding a company, such as the amount of money that it earned, how much it spent and on what, and how much it paid its employees, to name but a few things. The reconciliation process ensures that the figures available from the accounts are accurate. This is essential because reporting inaccurate figures could cause a company to run afoul of the law and incur severe penalties.

The part of the process that the government is most interested in, however, is the calculation of taxes. Each year, every company is required to pay taxes based on the calculation of certain requirements. These calculations are made based on figures provided by the company as verified by its auditors and accountants. Without proper figures, the company would not be paying the right amount of taxes. This is dangerous because there are laws in place that penalize improper tax reporting very heavily. Tax reconciliation allows for a check of the figures based on which tax will be calculated, thereby providing the preliminary check of accuracy.

One way to carry out reconciliation is through the use of software. Developers have created software that, among other things, assist users with reconciliation. This sort of software is appropriate for smaller businesses that do not have the resources to keep accountants on their staff or to hire them each year. Such software is inadequate to deal with the needs of larger companies, however, and even smaller companies would do well to hire accountants to verify their accountants at the end of each financial year.

For larger companies, however, tax reconciliation is something that must be left up to the accountants. If, for example, the money withdrawn from an account to purchase low-valuation energy assets cannot be fully accounted for by the cost of the assets, then the accountants will be able to track that money down and tell you where it was actually spent.

Resource Box:

Asset Reconciliation : At the end of the financial year, you will need tax reconciliation services to reconcile the accounting entries where you have drawn money from an account to purchase low- Valuation Energy assets or any other form of asset, and there is no one better suited to the task than RHAS.

Related Articles - Asset Reconciliation, Valuation Energy,

Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.

 

Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
Name:
Email:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
 
Please enter the code in the image:



 Author Login 
LOGIN
Register for Author Account

 

Advertiser Login

 

ADVERTISE HERE NOW!
   Limited Time $60 Offer!
   90  Days-1.5 Million Views  

 

Great Paranormal Romance


STEVERT MCKENZIE

Stevert Mckenzie, Travel Enthusiast. ...more
STEPHEN BYE

Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through The...more
GENE MYERS

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
SUSAN FRIESEN

Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media...more
LAURA JEEVES

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
MICHAEL BRESCIANI

Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more
TIM FAY

I am not a writer nor am I trying to become a writer. I am an average person with average intelligen...more
KIRAN KAUR

Kiranpreet (Kiran) Kaur, D.D.S., who received her Doctor of Dental Surgery degree from the prestigio...more
STEVE BURGESS

Steve Burgess is a freelance technology writer, a practicing computer forensics specialist as the pr...more
JOANNA MORGAN

Joanna Morgan has a huge passion for making money online from home and enjoys traveling around the w...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2020, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from wikipedia.org under the GNU FDL license