Accounting Methods week 2 561.docx Accounting Methods ACC/561 Accounting Methods TO: BizCon Management Employees From: Senior Management Subject: Delayed Wage Payments Date: December 1, 2019 Expected wages fr
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Accounting Methods week 2 561.docx Accounting Methods ACC/561 Accounting Methods TO: BizCon Management Employees From: Senior Management Subject: Delayed Wage Payments Date: December 1, 2019 Expected wages from full months™ salary will be delayed until the first week of January. We do apologize for any inconvenience this delay may have caused any of the employees and hope that this memo will reach you in time to make any personal financial adjustments necessary. On a brighter note I would like to congratulate all employees on ending this year with an explosive sale growth and unlimited potential for the year to come. Unfortunately, even with us ending the year on a great note, there is a difference between accrual-basis and cash-basis which explains why this wage delay still took place and this will be explained with in this memo for a better understanding. Accrual- basis accountings proper method is for Bizcon transactions that alter any of our company™s records are supposed to be recorded in the time period for when they actually happen. So, for instance, even when there is no physical cash exchanged, as long as we performed service we still must recognize and document expenses. Now cash-basis accounting differs and would not be considered in accordance with the (GAAP) General Accrual Accounting Principles listed above. Using cash- basis requires Bizcon to document revenue at the time that the cash is received, and at the time that the cash is actually paid out. In order for Bizcon to promote t. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . .
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