Russian Billionaire : Ziyavudin Gadzhievich Magomedov Ziyavudin Gadzhievich Magomedov (born 1968) is an Avar Dagestani – Russian organisation magnate as well as the major proprietor of the private investment company Summa Group. Ziyavudin Magomedov was born in 1968 in Makhachkala, Dagestan. In 1993 he finished from the Economics Professors of Moscow State Lomonosov College. Magomedov is presently the 41st richest
Continue reading Chinese Billionaire: Zong Qinghou Zong Qinghou is a Chinese entrepreneur, founder, Chairman as well as Chief Executive Officer of the Hangzhou Wahaha Team, the leading beverage firm in China. He was rated as China’s richest guy of 2012 and second-richest male of 2013, inning accordance with the China Rich Checklist, published by Hurun Record. On the Worldwide Rich Checklist, he
Continue reading Payment Request Form Payment Request Form is document that is prepared to request payment before preparing Payment Voucher (PV). For example, ABC company owed XYZ Company, supplier, $20,000. We will pay $20,000 on 3 March, 2018, but before payment of $20,000 , Financial Department in ABC Company will make Payment Request Form to request $20,000 before preparing Payment Voucher (PV).
Continue reading Material Request Form A material request form is a simple document identifying a requirement of materials for a particular reason. Each user department may request materials for their purposes respectively. For construction company, site department will request materials ( make Material Request Form) from warehouse department. Requested materials may include cements, steels, brick, sand etc. Finally Material Request Form written
Continue reading How to Audit Cash Receipt from Account Receivable ( AR) | Trade Receivable Inspect Official Receipt (OR ) Inspect Invoice Daily Cash Report cash in at bank / Bank Statement Contract with customers Quotation Purchase order from customer ( customer order) Delivery note Credit note Customer confirmation Count stock etc.
Continue reading How to Audit / Check Payment for Purchasing Tangible Fixed Assets Inspect payment voucher (PV) Cash out at bank Purchase request Check Quotation Purchase order Sale order Delivery note from supplier Goods received note Inspect physical asset Invoice from supplier Official receipt from supplier Contract and warranty with supplier Transferred Fixed Asset Form ( which employee use this computer) Check
Continue reading How to Audit Salary (payroll) Expense Inspect reliable Payment Voucher (PV) Check Cash out at bank Request List of salary for each staff Inspect Payroll slip Inspect Employee time sheet Check Employee contract Inspect/count number of employees Check and recalculate Salary Advance, OT, tax on salary etc.
Continue reading Equation in Statement of Cash Flow Equation in Statement of Cash Flow ( sometime called cash flow statement) is reported summary about cash position for company such beginning cash, cash movement and ending cash. Equation in statement of cash flow : Ending cash = beginning cash + cash from OA + cash from FA + cash from IA Cash movement
Continue reading Equation in Statement of change in equity Equation in Statement of change in equity is reported summary about change in equity for company during year such as beginning capital, capital movement and ending capital. Equity is called capital sometime. Equation in Statement of change in equity : Ending Capital= Beginning capital + Net profit ( loss) + additional capital -drawing (
Continue reading Equation in Balance Sheet Balance sheet ( sometime called statement of financial position) is reported summary about financial position for company such as asset, liability and equity (capital). Equation in balance sheet : Asset= Liability + equity Assets are classified two kinds : current assets ( less or equal one year) and long term asset ( greater than one year).
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