The double entry method and five accounting principles Do you know the basic principles of accounting? Double entry accounting : The double entry method and five accounting principles First established in the city of Venice in 1491, double entry bookkeeping is one of the fundamental methods used by accountants that requires all financial transactions of a company…
Key accounting terms Most companies use a ledger to keep track of finances. Here are some of the most commonly used terms in accounting , along with definitions: Assets: all companies have assets. They are resources that have a monetary value and can be divided into short-term and long-term categories. Short-term assets can include cash or prepaid expenses, and long-term…
Key accounting concepts The concept of consistency encourages entrepreneurs to use the same accounting concept when completing financial documents year after year. Accounting is a vibrant profession with many concepts, principles, and terms to understand. Many countries have different accounting concepts, but some are universal. Here are the top ten key accounting concepts : Entity Concept – A useful…
Where can you work as an accountant? The answer to this question is quite simple: ANYWHERE. Counting money used to be the main occupation of accountants, but it has been replaced by consulting. Accountants are needed in almost every industry, from a small neighborhood store to a conglomerate of multinational companies; All registered companies must file…
What salary does an accountant earn? The salary of an accountant can vary greatly based on many criteria: Title Position Type of entity you work for Self-employed or employed Experience Specialization (public, financial, general, corporate accounting …) Manual accounting is a thing of the past. Everything has been computerized and some accounting firms have also started using artificial…
How long does it take to be an accountant? As the preferred route to study accounting and work as an accountant is the university alternative, you should know that if you choose this option, it will take you four academic years (4 years) to complete your degree, as long as it is not a double degree. Accounting…
What qualifications exist to be an accountant? To work in the accounting world, there are numerous alternatives, since your options are not limited to a university degree. Being an accountant is a long-term career since there are numerous jobs that you can perform depending on whether you specialize in one or another degree. Accounting studies are…
Apps to facilitate your tax return The Ministry of Finance has launched the Tax Agency application so that you can carry out administrative procedures from your mobile. The app is called the Tax Agency, and you can download it from Google Play or the App Store. Likewise, we recommend that you download other applications that are necessary to identify yourself…
When should I make the declaration? The rental campaign usually begins in April. Photo of the downloadable calendar from the design studio Silo Creativo . It is not only important to know what taxes we have to pay and how, but when. The income statement campaign is governed by strictly established deadlines that are published in advance on various…
How do I declare my taxes? The Tax Agency has enabled a series of channels so that citizens can file personal income tax returns in the way that suits them best. Logo of the Spanish Tax Agency. This entity is committed to modernity, which is why the necessary mechanisms have been enabled to carry out…
