Using The Multi-Currency Feature In QuickBooks Online
Accounting Standards Codification #830 tells all about how to record and report (and adjust for) international transactions when companies need to account for more than 1 currency. As an accountant in a world that has ever increasing number of international transactions, your clients will expect YOU to be the one to know how to record and report all transactions with those who use a different currency from your client.
At this point, will will eventually need the knowledge of recording, managing/adjusting and reporting these issues and therefore, it would help all accountints to completely understand A.S.C. 830; that’s really what this video seried is all about!!
You must also know how to use accounting software to do these things to make sure your clients have everything in accordance with A.S.C. 830 and make sure you cover all the necessary procedures to accomplish this. That’s what this course is all about.
The example software we use, logically, should be the most common and popular software for accounting for multi-currency companies, QuickBooks Online. You will see how the specific items and terms and required actions from ASC 830 “Map” directly to each part and each action you see us demonstrate in QuickBooks Online.
You will be an expert in using the QuickBooks Online software for managing multi-currency transactions, adjustments and reporting requirements. These ideas can be applied to ANY ACCOUNTING SOFTWARE but the example one we use is the most common and popular accounting software, QuickBooks Online.
There are important discussions of the relationship between what you see in practical terms in the software, and the terms and mandates of ASC 830; so it will be as clear as possible what we are doing and why. You will be more and more likely to need this. An expert level of A.S.C 830 helps you, your clienst and everyone AND you will love the clear explanations about those ideas and how they are applid in practical terms. Even non-accountants will understand these advanced accounting ideas (some of them anyway) if they take this course.
-Mark
AREAS OF REQUIRED PROFESSIONAL STUDY THIS COURSE ADDRESSES:
ADVISORY SERVICES
YOU WILL INSTRUCT YOUR CLIENT ON PROPER SET AND USAGE UP OF THE MULTI-CURRENCY FEATURE AND ENSURE THE INTERNATIONAL TRANSACTIONS ARE RECORDED AND CLASSIFIED CORRECTLY
Specialized knowledge and applications related to specialized industries
Accountant’s will learn about the way a law international transactions work and exactly how to display them with the proper amount and type of gain or loss on any company’s financial statements
Accounting And Bookkeeping
I will even tell you each pat and citation from A.S.C. 830 that applies to the practical software application you are seeiing in each section. So Master all you need form the Generally Accpted Accounting Pricnipals expoalined here and enjoy following along step-by step with practical expamples of literlaly everything you will need as an accountnat to handle any multi-currency type of ransaction or siutatoion!!