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《construction accounting systems》由會(huì)員上傳分享，免費(fèi)在線閱讀，更多相關(guān)內(nèi)容在工程資料-天天文庫(kù)。
1、CHAPTER2ConstructionAccountingSystemsInthischapteryouwillbeintroducedtothestructureofconstructionfinancialstate-ments,includingthedifferentledgersusedbyconstructionaccountingsystems.Youwillalsolearnthedifferencebetweenaccountingsystemsthatareusedforcostre-portingandsystemsthatareu
2、sedforcontrollingcosts,aswellasthedifferentac-countingmethodsavailabletoconstructioncompanies.Becauseoftheuniquecharacteristicsofconstructioncompanies,therearesomekeydifferencesbetweenaccountingsystemsandfinancialstatementsfortheconstructionindustryandotherindustries.Beforeyoucanu
3、nderstandhowtoreadconstructioncompanyfinancialstatementsorunderstandhowconstructioncostsaretrackedandmanaged,youmustunderstandhowconstructionaccountingsystemsoperate.Constructionaccountingsystemsincludethesoftware,hardware,andpersonnelnecessarytooperateaconstructionaccountingsyste
4、m.Constructionaccountingsystemsservefourpurposes.First,theaccountingsystemprocessesthecashreceipts(collectingpayments)anddisbursements(payingbills)forthecompany.Theaccountingsystemshouldensurethatrevenuesarebilledandcollectedinatimelyfashionandthattimelypaymentsaremadeonlyforbonaf
5、ideexpensesincurredbythecompany.Failuretocollectrevenuesorcarelesspaymentofbillscanquicklydepletethecashreservesofacompanyand,ifleftunchecked,canbankruptacompany.Second,theaccountingsystemcollectsandreportsthedataneededtopreparecompanyfinancialstatementsthatareusedtoreportthefinan
6、cialstatusofthecompanytoshareholdersandlendinginstitutions.Thesereportsareneededtoassureshareholdersandlendinginstitutionsthatthecompanyissolventandismanagingitsfinancialassetsinawisemanner.Third,theaccountingsystemcollectsandreportsthedataneededtoprepareincometaxes,employmenttaxe
7、s,andotherdocumentsrequiredbythe1718CHAPTER2government.Failuretopaytaxesandfileotherrequireddocuments—suchasW-2sand1099s—ontimeresultsintheassessmentofpenalties.And,finally,theaccountingsystemcollectsandprovidesthedataneededtomanagethefinancesofthecompany,includingdataforthecompan
8、yasawhole,eachproject,andeachpiec
