Question:

Sometimes the most obvious is the answer— that is why I asked you to breakdown the accounting equation for us. — Tippy

– Hide quoted text — Show quoted text – I found my error and it was in compounding rather than deducting (i.e.  I added my total expenses of 7,000 to my total assets of 23,000 instead of subtracting 7,000 from 23,000 in order to arrive at my net income.  I was looking for the figure $16,000, but came up with $30,000.)  So in the end this was why I had such a huge variance. Thanks for the help anyway.

Response:

A suggestion; Never look for a specific number.  Keep the number in mind but never try to reach a certain number by matching, adding or subtracting.  Just like in your case (trying to reach $30,000) it tends to have you spin your wheels, or it might cause you to reach inaccurate results.  If you had found two or three entries (of coincidence) totaling $30,000 you would be under the assumption that you found your mistake, and could have inaccurate results. Instead, trace the transactions and check the entries for accuracy.  Might take less time, might take more,  but in the end you will always get the right figures in right accounts.

– Hide quoted text — Show quoted text – I found my error and it was in compounding rather than deducting (i.e.  I added my total expenses of 7,000 to my total assets of 23,000 instead of subtracting 7,000 from 23,000 in order to arrive at my net income.  I was looking for the figure $16,000, but came up with $30,000.)  So in the end this was why I had such a huge variance. Thanks for the help anyway.

Response:

I found my error and it was in compounding rather than deducting (i.e.  I added my total expenses of 7,000 to my total assets of 23,000 instead of subtracting 7,000 from 23,000 in order to arrive at my net income.  I was looking for the figure $16,000, but came up with $30,000.)  So in the end this was why I had such a huge variance. Thanks for the help anyway.

Response:

Question:

For the second time in 3 months, I have spotted a Tango A320 at LAX. Yesterday, 9 Feb 2002 (same day I noticed the QF 747’s) it operated AC 796 from LAX to YYZ.   Given all the pretending that Tango is a seperate company from Air Canada (read the horror stories on www.errorplan.com) why is this livery showing up in a market not served by Tango? Does AC use the same accounting practices as Enron? Wasn’t the setting up of Tango a condition for the takeover of CP and/or the allowing of Canada 3000 to fail? -Erik

Response:

For the second time in 3 months, I have spotted a Tango A320 at LAX. Yesterday, 9 Feb 2002 (same day I noticed the QF 747’s) it operated AC 796 from LAX to YYZ. Given all the pretending that Tango is a seperate company from Air Canada (read the horror stories on www.errorplan.com) why is this livery showing up in a market not served by Tango? Does AC use the same accounting practices as Enron? Wasn’t the setting up of Tango a condition for the takeover of CP and/or the allowing of Canada 3000 to fail?

Actually, Tango is a separate *product.*  But it’s AC allright.   (Tango was going to be forbidden by the competition bureau, but C3000 went belly up first.)

Response:

For the second time in 3 months, I have spotted a Tango A320 at LAX. Yesterday, 9 Feb 2002 (same day I noticed the QF 747’s) it operated AC 796 from LAX to YYZ. Given all the pretending that Tango is a seperate company from Air Canada (read the horror stories on www.errorplan.com) why is this livery showing up in a market not served by Tango?

Tango is a separate division. Tango flights are AC6xxx and all the airplanes still registered to AC. Don’t know what the callsign is, I haven’t heard one on the freq. yet. So they can substitute the planes on any route if needed (tech. of the scheduled etc.). Piss off some J customers at the same time too. Wasn’t the setting up of Tango a condition for the takeover of CP and/or the allowing of Canada 3000 to fail?

No. AC was expressly forbidden from starting up a LoCo for two years on any existing city pair. B.

Response:

Tango is a separate division. Tango flights are AC6xxx and all the airplanes still registered to AC. Don’t know what the callsign is, I haven’t heard one on the freq. yet. So they can substitute the planes on any route if needed (tech. of the scheduled etc.). Piss off some J customers at the same time too.

I hear the Tango flights arriving at YYZ as "Air Canada 6xxx". Howard

Response:

I hear the Tango flights arriving at YYZ as "Air Canada 6xxx".

The dorval airport web site arrivals/departure page shows Tango flights using NV 6xxx flight numbers. AC’s flights show  ACA xxx

Response:

…snip Tango is a separate division. Tango flights are AC6xxx and all the airplanes still registered to AC. Don’t know what the callsign is, I haven’t heard one on the freq. yet. So they can substitute the planes on any route if needed (tech. of the scheduled etc.). Piss off some J customers at the same time too.

…snip How many planes are actually painted in Tango livery anyway?  I suspect it is less than the number actually used on Tango routes right now.

Response:

I hear the Tango flights arriving at YYZ as "Air Canada 6xxx". The dorval airport web site arrivals/departure page shows Tango flights using NV 6xxx flight numbers. AC’s flights show  ACA xxx

Interesting, it peaked my curiosity so here’s a quick check of a few other "Tango" cities shows there is no common way of looking for a tango flight. For YYZ, they list ALL Air Canada, Air Nova, Tango and Air Georgian Flight using the ACXXXX for flight numbers. They list "Tango" under the "airlines". YYC just lists ALL AC mainline, regional and Tango under Air Canada and ACXXXX for flight numbers. YVR lists tango flight numbers as "ACT6075" while the Airline as Air Canada? I guess to each their own for looking up flights.  At least it appears to be consistent in the air for ATC! Howard

Response:

Question:

It depends on where you work, I work in St. Paul, MN and the going rate is around $16.00/hr. * Sent from AltaVista http://www.altavista.com Where you can also find related Web Pages, Images, Audios, Videos, News, and Shopping.  Smart is Beautiful

Response:

This is the going rate in Houston also, but you MUST know QuickBooks or Peachtree. Paula

It depends on where you work, I work in St. Paul, MN and the going rate is around $16.00/hr. * Sent from AltaVista http://www.altavista.com Where you can also find

related Web Pages, Images, Audios, Videos, News, and Shopping.  Smart is Beautiful

Response:

I have a question about pay rates. I have worked part-time at various places, doing the books and grants for a non-profit. Doing the books for a private hotel, doing tax returns for AARP, private people, and small companies for several years. Doing estate workups and 1099,1041’s for a trust company.  I have a AA in accounting The question: What is my knowledge/ experience worth per hour? I am interviewing for a full time position and I am trying to get an idea of my value before talking salary.

Response:

Question:

I just read limefires v-card attachment punched up the addy.Makes more sense. (campbell is a pyschic the cross walk hand signal was his suggestion given as a gift extraordinary abilties in youth) Sorry General Miles limefire not Crooke, Miles took over command. Long story anyway you know whats coming pal you gotta understand this right now i never read your card till today just woke up again. Have you considered limefire that the Warren Commission termed you a human Guienne pig my deepest living concern. Now as long as your happy cool. No one has a clue why your in this spot but you can benefit from chemical enhanced treatment.You gotta understand only today was this read never before so you are seeing a real pyschic on your case. These people are so lost the mental health clan that there is no way back.They removed the miltary ID numbers from the PDR to hide their crimes against humanity.This is the lowest of the low.Fortunately your 60 years into this era of history ( sigmund frued paying back a bribe to escape the gestapo scams america sex sells never paid off) and after hundreds of thousands of victims they arrived at a chemical halt with side effects that can stop your symptoms. This must go into the doctors office coast to coast with no confinement walk in walk out .Children and parents are the largest scam together accounting billions in lost cash.Mis-diagnosis is over 80% (legal reasons) These scum are the sole reason Amerika is getting its ass kicked. They lied stole cheated fucked an entire world. The great Satan.You may rest assured Ventura  Ojai has beat the living fucking god damn piss outta em i sent in a expert to a meeting resulting in massive damage in the last 3 months.It does no good they are already trying to get one year federal standard of care and suck these hard working people dry.They use the bleeding heart approach. The solution is no confinement no goverment involvement doctor patient in out. I belong to three organization and have steered them to victory law by law.I am using you .You are a nim wit you get well your safe but as Hitler did if times get tuff your a goner. Once you are diagnosised with a mental disease you are a defective (warren commission) and you no longer are ever a citizen with full rights period.Presently about 80% misdiagnosis resulting in a 100% lifetime disability to a 100% population. From one in 500 1900th century to 1 in 10 the most serious crime against humanity ever done in the history of the world THE GREAT SATAN. I repeat doctor patient no confinement children parents no hospitals inc. other solutions immediately. I spent over 140,000$ to get the Reisse decision passed that meaning 150,000 involuntary holds a year suspended in ca alone. ALL HAIL THE GREAT SATAN AMERIKA. It wont be much longer before Satan is over extended and can be liberated. These doctor youth worshiping fools were bleed whiter than sheep once a wonderful place a vicious perpetual crime ridden country solely for this reason alone.One outta of ten of its population has a skeleton in the closet dripping blood. The most abused country on earth trapping victims with promise of wealth dragging them to the asylums coast to coast at a average tax payer expense of 700+$ per day treatment for 3 days then 14 then six months lifetime total care gone expensed fast real fast Only a few years ago DSM3 was changed to DSM4 giving these people religious freedom back they were so stupid they didnt know where it was the sheep of sheep. It will do no good to write this. I urge you to tear down your asylum like i did with the local food stamp office. It took 15 years to complete but was carefully done we fucked everyone good. Run them outta your town have local meetings  friends that are legal experts your local foodstamp office tear these places down.They are as cockroachs.Our property values are climbing so fast here on THE GOLDEN COAST i might have to move.Every nights a party. Then we got em real good 3 months ago. Also the Feds pussied out. Your Federal goverment is a puss AMERIKA SATAN they let em slide. Then we got them back. .The hospital administrator was previously indicted for mortage fraud and wasn’t accredited county goverment.Puss so we got them again. But AMERIKA is mostly propoganda news talk actually they let them slide after a little show.WE dont let this happen we smash these cockroachs. The recent coast to coast AMERIKA THE GREAT SATAN mental health scam started in ventura yes Mr Campbell letting them fight their way out just a casual talk about a stogie a simple guest in a meeting that campbell suggest he go  KA BOOM HUNDREDS OF MILLIONS IN DAMAGE FREEDOM . These strong people here on the GOLD COAST are still weak and i cant even do all the work i should be doing with all of my projects so i ask maybe the few tiny tiny readers to boycot AMERIKAN MENTAL HEALTH anyway you can. Thank you limefire i have greatly enhanced my spirtual abilities. I am working on my medical education. I always believed to become a Dr. one must have had a halo/nimbus. These AMERIKAN MENTAL HEALTH PROFESSIONALS ARE THE GREATEST THREAT IN THE WORLD TODAY since 1939 termed the GREAT SATAN this is very well understood. They are very well understood use these facts download PDR DSM3/4 refer 80"s copies. YOU ARE NOW ARMED AND READY with factual information.The old PDR’s carry the military id numbers to drugs developed on their owen citizens for military purposes. Physicians Desk Reference and mind control. The two manuels DSM3/4 detail religious freedom CAMPBELLS MOTHERFUCKING GIFT TO YOU. (A licensed minister) G-Night

Response:

Ok Sad-ness Clowning around is over. You gotta change your whole life.All healing comes from within i have been clowning around with your but you have gotta change.If this stubborn case of yours persists your fixed, set or stubborn . Plus you have bad physicians no doubt. Your tonsils are needed your right just like male circumcision another scam (hidden cause of blindness, campbell solves genetic’s). I cant even believe the antibiotic therapy you must have had probably all too weak or too strong at the wrong times and probably guesswork.This tv-set microscope approach is great cause with live foods and juices you can watch stuff break apart disappear and reduce the loads.Get a UV- light for your room it sterilizes the carpets walls etc but its bad for your eyes so stay out.Get a dog a pet it will energize your enviroment another pole against this dark force in your world. Stay away from restaurants and don’t kiss stray girls the same germs in the butt are in the mouth (that’s a fact) .But sharing germs is way cool if around healthy people.Wash your hands your kitchen scrub it.We love Dr. Bonners Peppermint castile soap (skin). Eat friendly bacteria get fresh air 24/7 and sunlight take off your clothes go swimming in the ocean when you get stronger. You parents where probably cases and i bet you were well off.Your like part of the new world not the old world. I shudder to think what your dentist was like .Somehow i do not believe you exist i think you are a quack pretending but just to finish this hand. Saunas followed by cold showers will build whats left of your immune system.If you do get sick again drop your doctor find a gastrointerologist they got the smarts plus they got the best dope.Now i am done clowning around.I don’t know where you live but find someplace that’s about the same temp. all year round. Till you get stronger wear the correct clothes. Loose fitting airy as much as possible. Nothing in a bottle jar is the real deal.The whole focus might have to do with music singing voice good luck. Be the first to open windows in a room. Work as a gardener off and on casual labor. That’s the suggestions. Oh yeah paper money and coins are filthy dirty and don’t share joints or pipes.If your into speed or meth. drop it. Your now allergic to bad habits.Drink lots of fresh filtered water.Basically loosen up all healing starts within probably cramped parents, clutter, constricted, dependant, confined and over insured or under insured.Most important say i am the king i am doing this my way i leave all this behind in ashes ashes ashes.Don’t worry about keeping like the mommy daddy use your stubbornness to say its over it’s not coming back then like a cook in a fast paced coffeehouse move . That is-This is personal hygenie is the ticket move go.They shuffle you in, you assume, they dont know your in a $$$ world all smile’s take your bread. It’s over never go back i am so surprise you kept em that long. I put up with it also the ol ice cream trick. I said mom that guys like that freak dentist if you even do that i am gone age 8 Sept.12th-14th and i was gone no doubt about  it never happpened.These freaks had i still remember the food charts like the new foodcharts or that butt ugly nurse with the vacine wipe off on the arm. I interragated that quack i had that line in a uproar. Some girl said on the underside bitch the administration came. My little friend bulldozered the new building over the weekend, totaled it. It don’t do no good they are lost. Age 9 huh your in around here.He was a treated as a god.She had a job to do her excuse he had a job to do.Umpteen years later the underside.Or the time i ripped off the arrowheads and buried them under the tree no repect for that kind age 7.Indians loved me my parents loved me and L.A. public schools got rid of me.I never told em where i put em.General Crookes greatgrandchild show me an arrowhead and lie.My greatest moment a filthy lying bitch asking us what they might be used for, a tongue so sweet a mind so doomed.She had rocks in her head quote dear ol dad.My friend or whatever you are you are reading the finest life one could ever have a tiny ant that conquered the world and yoga is the ticket.No clowning around wise-up.This wonderous place few ever find and so much more not taught but lived. G-Night

Response:

Question:

Same guy as on this site. http://www.internetwks.com/pauling/ HEART DISEASE HALTED Disease." Do you really believe that this deadly disease can be eradicated? Dr. Rath: Absolutely. There is an interesting phenomenon that startles most people when they hear about it: heart attack, stroke – cardiovascular disease in general -is virtually unknown among animals. It isn’t impossible for it to happen, but it simply doesn’t occur, regardless of the animal’s diet, level of activity or other factors. And yet coronary and cardiovascular diseases are epidemics worldwide among people. They are the number one killers in all industrialized countries, accounting for about half of all deaths. For years, scientists have puzzled over this phenomenon, and now at last research is shedding some light on it. With the exception of man and a few other species, animals synthesize the vitamin C they need in their bodies. We do not produce vitamin C, and must attain the levels we need from food and supplementation. If you don’t get enough vitamin C, your body cannot produce adequate collagen and collagen is the substance which gives your cardiovascular system its structural integrity. Low vitamin C intake over many years leads to chronic instability of the vessel walls. Deposits develop over time as a reaction to this instability. Once you understand heart disease as a vitamin deficiency, treatment is easy, non-intrusive and risk free. But if it were as simple as a vitamin deficiency, wouldn’t we know that by now? With the millions of dollars that have been spent on research in th is field, how can this just now be coming to light? Dr. Rath: Well, I guess sometimes the simplest ideas can be the hardest to see. But there is also an economic factor involved. Vitamins are not patentable. Therefore, there has been little incentive for vital research and clinical studies. Also, linking disease and nutrition challenges the way many doctors think. This is changing, and more and more doctors every year are considering nutritive factors. But this kind of vast orientation change takes time. When you mention "vitamin deficiency," most people probably think of scurvy, the disease sailors got a hundred years or so ago when they failed to get any vitamin C in their diets. Is the vitamin deficiency that leads to heart disease the same kind ofthing? Dr. Rath: As a matter of fact, it is the same thing. Heart disease is a form of early, or chronic, scurvy. When a person develops scurvy, their body is totally depleted of vitamin C and all bodily tissue degrades quickly. The first symptom you see is bleeding gums. And what is this bleeding? It is leaking of the blood vessel walls. As the scurvy progresses, the blood down and are no longer able to contain blood as it is pumped through them by the heart. Eventually the blood escapes from the blood vessels, and death results. The reason that a lack of vitamin C causes scurvy is the same as the reason that a shortage of vitamin C causes heart disease. Among the most important functions of vitamin C in the body is the production of collagen. Collagen molecules form the structure of the entire cardiovascular system. They function like the steel girders in a skyscraper – they form a supporting grid that assures the strength and stability of the veins, arteries and other blood vessels. With no vitamin C, collagen production ceases and in a relatively short time the entire system loses its structural integrity. This is scurvy. Today most people get enough vitamin C to avoid getting scurvy. However, enough to prevent scurvy isn’t necessarily enough to keep your cardiovascular system healthy. If your diet includes only minimal amounts of vitamin C, collagen production is reduced and blood vessels weaken. Tiny lesions develop in the vessel walls, and the blood vessels lose elasticity. In order to combat this, the body sends clusters of fat molecules into the blood vessel walls, acting as repair agents to do the work that collagen should be doing. But like a plaster patch on a wall, the result is a repair that is not as strong or stable as the original structure. Over time, the body overshoots the repair mechanism. Arterial deposits are nothing other than nature’s "plaster cast" against the weakness of the blood vessel walls. If these deposits develop in the arteries of the heart they lead to the heart attack. If they develop in the arteries of the brain they lead to stroke. Are there other factors involved besides vitamin C? Dr. Rath: Yes. Animals that do not produce vitamin C in their bodies, such as humans, do produce a specific type of fat molecule called lipoprotein (a). This molecule is naturally very sticky. The reason why cholesterol particles and other fatty particles deposit in the blood vessel wall is because some of them are coated with these sticky lipoprotein molecules, which form a biological "adhesive tape" around the fatty particle. So it is actually the stickiness of the lipoprotein particle which makes the fat globules accumulate inside the blood vessel wall, which leads to the buildup of deposits and eventually to the clogging of these arteries. In summary, the new understanding is that less stickiness means less risk for heart disease. Of course, now that the stickiness has become the focus of therapeutic attention, it is logical to say, well, let’s look for "Teflon" agents which can prevent and neutralize this stickiness, and thereby prevent the spread and buildup of new deposits, and more importantly reverse already existing deposits by loosening the fatty particles, the LDL and the other cholesterol particles, from the arterial wall and thereby decrease the clogging. And are there actually "Teflon" agents that can do that? Dr. Rath: Yes, there are. Part of the work I’ve been doing, and the patents I’ve received, involve using the natural amino acids lysine and proline for just this purpose. These two nutritional supplements are the first generation of "Teflon" agents that we know, and of course since they are natural supplements, eventually everyone can take immediate advantage of these new discoveries. So there are two factors which make humans more prone to heart disease than animals? Dr. Rath: Yes. First, animals produce a lot of their own vitamin C, which humans do not do. Our ancestors have lost this ability to produce their own vitamin C. All the vitamin C for our bodies must come from our diet. The second factor is, animals do not have these sticky particles, they just have normal fat particles. This stickiness is the second reason why human beings are much more prone to this disease than any other living beings on this planet. You hold a patent in this area. Can you explain that, and the studies that led to the patent? Dr. Rath: Certainly. The scientific search – the drive – that I was involved in over the past eight years, started by looking inside the human arteries. What is it exactly that leads to the buildups of deposits, and kills millions of people every year from heart attacks and strokes? The key we found was really the adhesive tape – the lipoprotein particle. No adhesive tape – no stickiness – no fatty deposit, period! So, the patent that we received comes directly from this discovery, and that it is the possibility to use the amino acids, lysine and proline, as agents to reverse these deposits, to get the fatty deposits out of the wall and thereby decrease the risk of heart disease. This is the core of the patent. Of course, in order to get the patents, you have to have a certain amount of experimental evidence, and first clinical evidence. So, we already have a series of testimonials from people following this program, who have been taking higher amounts of vitamin C, lysine, proline and other important nutrients. A person who has angina pectoris experiences chest pain, which results from the narrowing of the coronary arteries. People following this program report to us regularly that within four to six weeks they almost entirely get rid of this chest pain. The blood circulation through their coronary arteries has obviously improved, and therefore the chest pain, which is a sign of the suffocating heart muscle, does not occur anymore. Studies which will document the reversal of deposits in the coronary arteries of heart disease patients are in and the results are remarkable. Beyond vitamin C, lysine and proline, are there other nutrients that you recommend supplementing? Dr. Rath: Yes. What you have to keep in mind is that your cardiovascular system is your largest organ.  One person’s cardiovascular system has the surface area of about half a football field! This’system is made of millions of individual cells, and keeping those cells healthy is of paramount importance. So it is essential to follow a well-thought-out nutritional supplementation plan. One important and powerful antioxidant I have researched is pycnogenol. I recommend this very highly. Pycnogenol is a little known extract of a European pine bark that is tremendously effective in fighting free radical damage. It is absorbed very quickly by the body, and helps potentiate vitamin C and other antioxidant activity. Pycnogenol is a fairly expensive nutrient, and rather hard to find, but it is very worthwhile to seek it out. I also recommend including other antioxidants such as vitamin E and beta-carotene, along with vitamin C, for their protective ability. Moreover, many of the B vitamins are important as cell fuel, as are several key minerals and CoEnzyme QIO. Are there any dangers in using these supplements in the amounts you recommend? Dr. Rath: The answer is no. Clearly no. So there is no downside and quite a bit of potential for preventing or even reversing heart disease. Dr. Rath: Yes. I think the dimension of these discoveries has not yet … read more »

Response:

Hi All, The info at above site is interesting, but I’m writing to see if anyone has any first had expeirence with the vitamins etc. for heart conditions and high blood pressure. Please e-mail me privately since I don’t visit this news group very often.

Response:

Question:

My company is starting up a non-profit thriftstore, similar to Goodwill Industries. Since all of the items we sell will be donated, we have a question on whether we should recognize revenue when a donation is received. I know that according to GAAP, donations are usually recognized as revenue as long as the amount is significant and the value can be determined fairly. But how can we determine a fair value of the donated item, as most will be used and some won’t be worth selling? Are there any exceptions, which allow non-profits to wait until such items are sold to recognize revenue? Also, if we do recognize revenue what are the proper accounting entries to be made for the donation and then for the sale of the same donated item? This is my best attempt at such an entry:  DR  CR Inventory  5  Donated Revenue  5 to record the donation of an item valued at $5 Cash  10 Donated Expense  5  Inventory  5  Sales  10 to record the sale of the same item for $10 Any help or advise in this matter would be greatly appreciated.

Response:

fasb 116 says contributions should be recognized when they are received. They should be recognized at their "fair market" value…  That is where your problem comes about, what to consider fair value.  The debit would be to inventory and the credit to contributions….  the fair value would be an estimate of value.  the value would be tested in an audit by noting history and subsequent sales of merchandise.  the je at sale would be a dr to cash then a credit to inventory (at the value determined at donation) and the je would be balanced by some account that quantifies the over or undervaluation of the contribution (IE gain/loss on valuation of inventory)….. have fun – Hide quoted text — Show quoted text – My company is starting up a non-profit thriftstore, similar to Goodwill Industries. Since all of the items we sell will be donated, we have a question on whether we should recognize revenue when a donation is received. I know that according to GAAP, donations are usually recognized as revenue as long as the amount is significant and the value can be determined fairly. But how can we determine a fair value of the donated item, as most will be used and some won’t be worth selling? Are there any exceptions, which allow non-profits to wait until such items are sold to recognize revenue? Also, if we do recognize revenue what are the proper accounting entries to be made for the donation and then for the sale of the same donated item? This is my best attempt at such an entry:  DR  CR Inventory  5  Donated Revenue  5 to record the donation of an item valued at $5 Cash  10 Donated Expense  5  Inventory     5  Sales  10 to record the sale of the same item for $10 Any help or advise in this matter would be greatly appreciated.

Response:

Question:

Dear Cherine: Although you probably know this, a CPA is a designation of one practicing public accounting in the US, and a Chartered Accountant (CA) is a designation of someone practicing public accounting in Canada. I am unaware of any specific differences other than that I am sure just as a CPA should be well studied in US GAAP, a Chartered Accountant is likely well studied in Canadian GAAP. I am a CPA in Michigan, near Detroit, and on occassion I have had to coordinate the efforts of various engagements with Chartered Accountants. Based on my professional experience, their accounting procedures appear similar to those which CPA’s use; however, I have never thought to inquire as to the differences between our designations. I hope this response is not too simplistic and helps you to gain some insight into the differences between the two designations. Sincerely, Joe Boswell Certified Public Accountant – Hide quoted text — Show quoted text – Could anyone tell me what’s the difference between a CPA and Chartered Accoutant? Thank you for kind attention. Cherine

Response:

Could anyone tell me what’s the difference between a CPA and Chartered Accoutant?

A British chap I know, who is an ACA (Qualified Chartered Accountant)has explained the training to me as quite different from a CPA. Apparently there are two tracks to follow: 1. Fast Track: 1 year of intense university education. Work 5 years in public accounting. Attend intense course work for 3 months every year. Tested once after 2 years in the program and then again after 4 years. 2. "Traditional" Track: 3 year degreee, and 3 years working in public. Same testing schedule. Hope this helps! Steph Lucas Group

Response:

Different country would have their own system of recognized professional bodies.  Both CPA of USA and CA of Canada are prestiged qualification of accountant.  If you wish to know a bit more about the historical background of CA, which is inherited from the accounting qualification from United Kingdom. Nowaday, accounting qualification are more internationalised.  Besides the differentials of law, taxation in different country, the basic technique are similiar.  To further illustrate this, I would use the examples of  Cadillac of USA, and Rolls Royce of UK, or M.Benz of Germany.  They are all good quality stuff. Sincerely, Jackson Yeung  FAIA, FHKSA – Hide quoted text — Show quoted text – Dear Cherine: Although you probably know this, a CPA is a designation of one practicing public accounting in the US, and a Chartered Accountant (CA) is a designation of someone practicing public accounting in Canada. I am unaware of any specific differences other than that I am sure just as a CPA should be well studied in US GAAP, a Chartered Accountant is likely well studied in Canadian GAAP. I am a CPA in Michigan, near Detroit, and on occassion I have had to coordinate the efforts of various engagements with Chartered Accountants. Based on my professional experience, their accounting procedures appear similar to those which CPA’s use; however, I have never thought to inquire as to the differences between our designations. I hope this response is not too simplistic and helps you to gain some insight into the differences between the two designations. Sincerely, Joe Boswell Certified Public Accountant Could anyone tell me what’s the difference between a CPA and Chartered Accoutant? Thank you for kind attention. Cherine

– MZ

Response:

A Chartered Accountant is a Canadian public accountant licensed to provide an opinion on a set of financial statements after an audit.

Not quite.  A vast majority of Canadian CA’s are not licensed public accountants (most are in industry as Controllers, Financial Analysts, etc.), and not all public accountants are CA’s (for example, in BC, CGA’s can be public accountants).  Furthermore, of the small minority of CA’s in public accounting, not all are auditors (other functions may include tax, f/s preparation & reviews, forensic accounting, management consulting, business advisory, etc).  Thus it is not the job function that defines a CA. Technically and generally, a CA is a good standing member of a provincial institute (Canada only) of Chartered Accountants, a self-regulatory professional body, whose mandate is to serve the public interest through the development and enforcement of standards of qualification and practice.  To attain the CA designation, one must complete a rigorous program of education, experience and examinations, as set by the provincial institute and the Canadian Institute of Chartered Accountants.  It is through these standards and qualifications that defines Canadian CA’s in terms of the respect the designation receives in the business community and the public in general. Steve

Response:

A Chartered Accountant is a Canadian public accountant licensed to provide an opinion on a set of financial statements after an audit. A CPA is the American equivalent.

– Hide quoted text — Show quoted text -Could anyone tell me what’s the difference between a CPA and Chartered Accoutant? Thank you for kind attention. Cherine

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Is there a transfer between accounts capability within QB4?

Hi Joe: I’m not sure what you mean. Any QB transaction can be easily revised to change the accounts to anything you wish. Get to the transaction and Edit. Mike Block, C.P.A. Tax Fighter, 954-566-7540,  fax 7541 QuickBooks Professional Advisor, Multi-User Test Winner   biz.comp.accounting co-moderator for spam free news         NO TAX INCREASES without voter approval    275 E Oakland Park Blvd, Ft. Lauderdale, FL 33334

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Could anyone tell me what’s the difference between a CPA and Chartered Accoutant? Thank you for kind attention. Cherine

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Cherine wrote … Could anyone tell me what’s the difference between a CPA and Chartered Accountant?

CPA (Certified Public Accountant) is an American designation. Chartered Accountant is used in most of the former British Commonwealth and its colonies – for example in the UK, Canada, Bermuda, Australia, Hong Kong, Nigeria.  Many French-speaking countries use the comparable term Comptable Agree (accent aigu on the first ‘e’). There are some technical differences from country to country, but for most practical purposes the terms have the same significance – recognition of professional education and training in (generally) accounting, auditing and taxation, and membership in a professional association. In most jurisdictions a license is also required to "practice public accounting", but use of the appropriate designation (CPA or CA) alone is commonly assumed to imply that the practitioner is licensed, even though this may not be the case.  In some jurisdictions public accountants may be licensed based on other professional designations or without a professional designation (several Canadian provinces, for example, allow licensing of Certified General Accountants (CGAs).  Also in some jurisdictions there may be "grandfathered" licensees – public accountants who were licensed previously under earlier legislation. Currently in Ontario Canada the CA designation is required to obtain a license.  The CA designation requires a university degree with specified credits in accounting, auditing, taxation, economics and law, plus practical experience specifically in auditing acquired in apprentice-type employment with a licensed public accountant.  An accountant may retain his license, but lose the right to use the CA designation (for example, by resigning from the Institute of Chartered Accountants of Ontario and the Canadian Institute of Chartered Accountants), but this is rare.  The current legislation is approximately 30 years old, so there are only a small number of grandfathered licensees (licensed without the CA designation, prior to the legislation).  The Certified General Accounts Association is lobbying aggressively to obtain the right to be licensed in Ontario, as they have this right already in British Columbia and several other provinces.

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Is there a transfer between accounts capability within QB4? Joe

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Hi Guys I’m just looking for a finacnial statements in English. Could you let me know where in the www can I find them? (I don’t care about the kind, size… of company)

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Frank Furillo inquired… <<Hi Guys I’m just looking for a finacnial statements in English. Could you let me know where in the www can I find them? (I don’t care about the kind, size… of company) http://www.sec.gov/edgarhp.htm

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Between the Statement of Financial Position & Statement of Financial Performance, which one would show more concern for accounting standard settlers? & Why is this so?

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Between the Statement of Financial Position & Statement of Financial Performance, which one would show more concern for accounting standard settlers? & Why is this so?

settlers ?   or accounting squatters ?

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Between the Statement of Financial Position & Statement of Financial Performance, which one would show more concern for accounting standard settlers? & Why is this so? settlers ?   or accounting squatters ?

Certainly not "settlers" in the case of Australian accounting standards. The Australian government, in a spasm of brain failure, has effectively capitulated sovereignty over standard setting to the IASB. The Australian FRC, created as a bastard child of the CLERP 9 legal ‘improvements’, has instructed the AASB to not only ‘harmonise’ Australian standards with International standards (a good idea for the most part), but now to effectively _duplicate_ those standards (even if the International Standards make no logical sense – so if, for example, the IASB adopted the ridiculous American practice of allowing LIFO inventory measurement, then Australian standards would also require such an illogical method). The abdication of sovereignty will occur in 2005 without sustained and systematic lobbying by Australian Accounting professionals and other interested parties. Control over Australian standard setting ought to remain vested in those facing the best incentives to keep them rational, reasonable and honest: the Australian Accounting Profession. In response to the original poster’s question: think about the conceptual origins of various accounting outputs – assets, liabilities, revenues, expenses, comprehensive income (aka ‘profit’). Which seems more influential: the balance sheet or the P&L? Check the evolving position of the relative weight placed upon the residual difference between: 1) Revenues and expenses 2) Assets and liabilities. Also, is there any difference between existing standards and treatment under the evolving conceptual framework (i.e. between AASBs and SACs)? What is the difference and what does this imply in relation to your question(s)? David.

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If that is the case, it is very sad news. Becuase Australia has the best accounting standards and tax law (not in view of tax payer), in my opinion.

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Pleased you added the caveat "not in view of tax payer", Tyler! Oz Tax Law could be made much better, IMHO, by: 1) Increasing indirect flat rate taxes (i.e. GST); and 2) Abolishing all other taxes, including income, stamp duty, corporate, capital gains etc. A radical proposal (hence one unlikely to see actionable reform anytime soon), but a good ’signpost’ of the way forward for Australia? A good start would be a rethink on most stamp duties, which are an irrational hangover of an obscure British King’s desire to raise a temporary army some centuries before Australia even existed! High real estate transaction costs aggravate an already inefficient market, but state ALP governments seem unwilling to allow needed reforms simply because they are jealous of their revenue sources. There is still much to be done in Australia, yet too many seem comfortable with a lame "reform fatigue" excuse for sitting back and feeling good about how far we’ve come. Accounting standards and tax laws, like most policy areas, demand constant vigilance, especially as control over the former threatens to slip from our grasp. David.

– Hide quoted text — Show quoted text – If that is the case, it is very sad news. Becuase Australia has the best accounting standards and tax law (not in view of tax payer), in my opinion.

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David, These are the factors I like the most, making things more complicated. You look at Singapore and Hong Kong and Asia in general. They have very simplied Tax laws and accounting standards. The problem with that is the Accounting profession / and job for accountant is not as demanding. Hong Kong kills alot of Accounting professionals by introducing Audit exemptions. Last time, I checked there is only about 3,000 CPAs in Hong Kong. And it is declining each year by 5%. Do you know what is the salary range for Accounting personnel (2 years audit experince) with CPA in HK? it is about Aud 1 to 1.5 K Aussie dollars. No kidding. In HK, anyone can file a tax return. IRS will adjust and choose the best method for tax payers. and there is no need for "tax accountant" beside very few corporate tax manager. There is no need for Audit for Small and Medium sized company, becuase they, themselves can file a tax return. The only CPAs there, are the big 4s (who are doing well), even second tier accounting firms dont do well there.

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I need a good reference on how to read Financial Statements. What to look for, how to tell if a company is doing well, etc. I have recently been asked at my job to go over the financial statements from potential clients of ours. I have never done this before so any help would be appreciated. Thanks don’t forget "Financial Statement analysisfor Dummies" "Idiots guide to financial statements" I would try to get an accountant friend to look at financial statements.

        I agree. While it doesn’t take long to understand the basics of financial statements, it takes a few years to be able to do a good job of analyzing them.

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I need a good reference on how to read Financial Statements. What to look for, how to tell if a company is doing well, etc. I have recently been asked at my job to go over the financial statements from potential clients of ours. I have never done this before so any help would be appreciated. Thanks

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- Hide quoted text — Show quoted text – I need a good reference on how to read Financial Statements. What to look for, how to tell if a company is doing well, etc. I have recently been asked at my job to go over the financial statements from potential clients of ours. I have never done this before so any help would be appreciated. Thanks     Boy it really depends on how deep you want to get into it. There are fairly simple,small paper books on the subject like "Understanding Financial Statements for Non-Accountants"  which covers some basic accounting concepts, the various ratios for judging solvency and return rates, etc. It also goes into the basic types of businesses – retail, manufacturing, etc.      There are other big and simple paperback books like "How to Profit From Reading Annual Reports"  - about $20. I have another just like it too. It covers once again the basic ratios , types of business, but focuses more on reading the actual report, the auditors opinion, some basics on the pension benefits, etc. This maybe your best bet befor you wade into a more complex book.     Then there are the more professional books like the Irwin series of which one of their books is "Analysis of Financial Statements" by Bernstein. I think I paid around $40-60 for it. This covers the subject in a much more textbook-ish thorough manner – short term liquidity, funds flow, capital structure, long term solvency, return on investment, etc. If you are a very fast reader you might want to try a book like this out. Im sure there are tons of books on this level – some relatively thin like this (400 pages) to ones rivaling books like Marcia Stigums "Money Market" at thousands of pages.      Im sure you can find books that focus on certain topics too like more detailed categories of businesses, taxes, the minutae of footnotes, and even their own specific models or formulas. I have a few like that such as "Investing in Bankruptcies and Turnarounds" by Levine.     Be sure to go to a Borders or Barnes and Noble, near you and leaf through the books. They will usually have several book of various levels of complexity and cost there. Also do a search on www.amazon.com and barnes and nobles website. They have short descriptions of the books they carry and you can order them on line.

don’t forget "Financial Statement analysisfor Dummies" "Idiots guide to financial statements" I would try to get an accountant friend to look at financial statements.

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Question:

- Hide quoted text — Show quoted text – In todays world,accurate information can make or break a case.At malcolm & associates we take your particular situation and provide you with the documentation that you need in exhibit quality. The investigative services that we provide should be properly viewed as an important investment in your clients future.        1.insurance fraud        2.confidential audits    7.surveillance        3.workmans compensation  8.pre-marital        4.accident invest.       9.loss prevention        5.asset research        10.integrity service        6.civil & criminal      11.forensic accounting                          sincerly,                              scott malcolm                        malcolm & associates inc.

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In todays world,accurate information can make or break a case.At malcolm & associates we take your particular situation and provide you with the documentation that you need in exhibit quality. The investigative services that we provide should be properly viewed as an important investment in your clients future.        1.insurance fraud                2.confidential audits    7.surveillance        3.workmans compensation  8.pre-marital        4.accident invest.       9.loss prevention        5.asset research        10.integrity service        6.civil & criminal      11.forensic accounting                          sincerly,                              scott malcolm                        malcolm & associates inc.

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Question:

: What I DON’T want to see is BOTH taxes.  (Remember Donna Shalalalala’s : trial balloon in this regard?) In ‘96, Bowser will be crooning: Sha-la-la-la Sha-la-la-la-la ba doo Sha-la-la-la Sha-la-la-la-la ba doo Sha-la-la-la Sha-la-la-la-la ba doo Sha-la-la-la Sha-la-la-la-la dip dip dip dip dip dip dip dip num num num num num num *Get* *A* *Job*!

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– Hide quoted text — Show quoted text – Hopefully we will see the end of the income tax was we know it in the next 4-6 years…        Option 1: A National Sale Tax – This would exclude items like        food, clothing, and housing so that the poor and low income        families would pay little in taxes.  The income tax would be        eliminated.  Entitlements would be means tested.  Money in the        underground economy would be brought into the system.        Option 2: A Flat Income Tax – This would include a $10,000        personal exemption so a family of 4 would only pay taxes on        income over $40,000.  Entitlements would be means tested. A sales tax (or a Value Added Tax) does give individuals some semblance of control, and is usually accompanied by the acquisition of a tangible asset, usually enjoyable — they would consider it "the cost of getting something desired."  It is psychologically gentler and thus more moral.  (Especially if food, clothing and housing are not taxed.)

Don’t confuse the sales tax and VAT; they’re not precisely the same thing.  For my part, I’d much prefer that any and every tax we pay should be highly visible, which is one advantage of the sales (and, to a lesser extent, income) tax.  Taxes should, when possible, be itemized on everything we buy; the applicable rate should be posted, in Big Black Numbers, in every business establishment.  People should be painfully aware of the taxes they pay; then, perhaps, fewer people would be so ready to raise them for the Good Cause Du Jour. Hidden taxes — which include the VAT and "franchise fees" — are far too easy for tax-hungry politicians to jack up via a dead-of-the-night voice vote.  That’s their appeal, of course, but that course has led us to the situation where the average Joe doesn’t have a clue as to the real percentage of his income (over 40%!) that’s siphoned off. [...] The last advantage of a NST/VAT is that collecting taxes would be a lot easier to do since most businesses now collect sales tax anyway.   … I would even go as far as allowing businesses to keep 1-3% of the sales taxes they collect to help defray the added costs of collecting them and other government regulations — a way to give each businessman more psychological incentive to collect sales taxes.

I agree, but a "psychological incentive" isn’t the reason why.  There’s a definite cost involved, and if business must be the government’s tax collector, then businesses should be recompensed.  As it stands, tax collection is an unfunded government mandate which adds to overhead and is a definitive drain on profits.  Small businesses, especially, incur very high costs for the collection, accounting, and forwarding of taxes — and are heavily penalized for their mistakes.        "There… I’ve run rings ’round you logically."            – Monty Python’s Flying Circus

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My esteemed colleague Jeff Killeen has proposed a couple of useful alternatives to the existing confiscatory tax system.  Alas, I see a couple o’ stumbling blocks here: 1) The abolition of the IRS:  I’d love it, but it ain’t gonna happen.   It’s too big a bureaucracy to nuke! 2) Gee, what are all the lawyers and tax accountants gonna do? Put up one hell of a fight, that’s what! I’d rather see a flat tax with money taken right off the top than a hidden VAT tax.  I want to know where every one of my hard-earned dollars is going.   What I DON’T want to see is BOTH taxes.  (Remember Donna Shalalalala’s trial balloon in this regard?)

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Hopefully we will see the end of the income tax was we know it in the next 4-6 years…    Option 1: A National Sale Tax – This would exclude items like    food, clothing, and housing so that the poor and low income    families would pay little in taxes.  The income tax would be    eliminated.  Entitlements would be means tested.  Money in the    underground economy would be brought into the system.    Option 2: A Flat Income Tax – This would include a $10,000    personal exemption so a family of 4 would only pay taxes on    income over $40,000.  Entitlements would be means tested.

Well, if we got to have a tax, I do like option 1 the best as stated.  There is something quite psychologically damaging to people to see a large fraction of their hard-earned income taken out *from the top* without them having any say in the matter (they see Congress spending their taxes in ways they don’t approve — liberals see taxes spent on defense, conservatives see taxes spent on certain social programs they see don’t work, etc.).  And such a demoralizing effect can affect all people’s ability to work harder, smarter, etc., to the detriment of society and *to the poor* of this country, whose best hope of rising through poverty is by a strong economy that needs skilled labor and is willing to train new people.  Just ask your average European citizen (most have stratospheric income tax rates) how ambitious they feel and if they are willing to take a chance with a new business idea — the answer to this is obvious as I’ve asked it many times to European friends from Belgium, Norway and Sweden.  Why try to increase your income from $50,000/year to $100,000 per year if 80-90% of the difference is paid in taxes as it is in many parts of the world and where the Left wants to do in the U.S.? — and I reject the notion that this extra $50,000 is taken out of someone elses pot — it is [usually] in actuality due to unique productivity (making something from nothing, "value added") which benefits *everybody*. A sales tax (or a Value Added Tax) does give individuals some semblance of control, and is usually accompanied by the acquisition of a tangible asset, usually enjoyable — they would consider it "the cost of getting something desired."  It is psychologically gentler and thus more moral.  (Especially if food, clothing and housing are not taxed.) It also encourages savings and investment, which will help with business growth.  In the short run, the extra influx of money to individuals (no income tax withholding) will cause a run on our economy (may even cause temporary inflationary pressures) which will encourage business growth. Remember McGovern’s proposal to give every man woman and child $5000? — his thinking was that this money (actually printed paper) would stimulate the economy and pay back this money several times over.  This is better than McGovern’s proposal in that the money is already there. The last advantage of a NST/VAT is that collecting taxes would be a lot easier to do since most businesses now collect sales tax anyway.  Compliance would be a lot easier as the bartering "black market" would disappear (which costs billions of dollars in revenue, on the order of $200 billion/year!  And this black market is due to the negative psychological impact that income taxes have on people!  Income taxes are immoral for that reason and should be opposed by all liberals if liberalism is to be really consistent with its fundamental tenets.)  I would even go as far as allowing businesses to keep 1-3% of the sales taxes they collect to help defray the added costs of collecting them and other government regulations — a way to give each businessman more psychological incentive to collect sales taxes. However, to prevent the return of an income tax if the Left takes over again (they consider it a matter of social and philosophical necessity to have an income tax in order to be able to control social policy!) we must have Constitutional Amendments to eliminate that possiblity, as well as putting on an absolute cap on the National Sales Tax, also by Amendment.  The only exceptions to this cap and an income tax would have to be carefully and specifically written so only in times of *true* National emergency could exceptions be allowed, and only temporarily (for example, such taxes would have to be renewed by Congress each year with a *3/4* or even *9/10* vote and approval by the President — if it’s a *true* National emergency, I’m sure getting the 3/4 or 9/10 vote would be easy and the people would gladly support these *temporary* taxes.) As a separate, but related subject, I’ve been intrigued with the idea of instituting a yearly poll of all voter-registered Americans, analogous to the ten-year Census.  In this poll, each American would be asked how they’d like to see their tax dollars (all forms of Federal taxes) spent, maybe by percentage in a general category (e.g., by Cabinet-level).  The statistics would be gathered and must be published yearly as well as what was actually budgeted.  This way, if there are big differences, Congress and individual Congresspersons would be under a little more pressure to heed to the wishes of the American people.  If we still have an income tax then can weight the data in two ways:  by individual, and by taxes paid.  BTW, has such a poll be done privately? Jon Noring — OmniMedia           | Hypertext electronic books for Windows 3.1 are available! 1312 Carlton Place  | Current offerings via anonymous ftp:  ftp.netcom.com Livermore, CA 94550 | /pub/OmniMedia/books .  E-book publishing service follows 510-294-8153        | NWU recommendations.  WWW home page coming very soon!

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