Firstly, I would like introduce myself as a future accountant. Still in the process of becoming one.
So what is accounting??
“Accounting is to provide records such as funds paid or received for a person or business. It is to keep a record of monetary transactions that includes expense and income. In olden days, data processing was done by bookkeepers on papers but in today’s new technology it is all done through computerize process. ” – http://www.businesstown.com/accounting/basic-language.asp
Pastel is one of these technologies that help accountants to collect their financial statements by capturing some data of daily transactions in an entity. All the debits, credits that make up the cashflow and inventory or stock taking of that company.
Woah! What did you just say?? What is she blabbing on about? – you may be pondering.
Well for your surprise this is the daily lingo in any work environment and some staff are trained regularly to keep themselves up to date on their accounting terminologies. Even worse some entities only hire people with some accounting knowledge and experience. That’s the harsh truth. Accountants are taking over your job?? Tough luck, invest your money on accounting courses!
You see these lingos traveling from HR department talking about payrolls to a managerial department talking about profits and loss and whether the cheques from clients have been deposited into the banks and to the lowest level of work management chart talking about the batch capturing of the daily transactions and backing up the data. Yes this is the reality of any work environment. Accounting (money) lingo has taken over but hey at the end of the day every company is aiming for a good turnover (profit). Accounting is just a decent way of saying money counting.
Everything is a money making scheme!! MONEY MONEY MONEY! Every businessmen only see dollar signs! I am sorry for generalising but I feel that’s how it is. Even the banks with loan system, they somehow multiply and get triple the amount back from their “customers”.
Can you imagine the world without money?? I feel the barter system was so much more beneficial than paper money! So what is barter system you may think? Let me plagerize with quotation marks…
Aside: TERRMINAALGIEE (Wilbur’s way of definition) if you don’t know who is Wilbur Sargunaraj take a peep at this link http://wiki.answers.com/Q/Who_is_Wilbur_Sargunaraj
… sorry it’s totally out of topic 😉
“Barter System is that system in which goods are exchanged for goods. In ancient times when money was not invented trade as a whole was on barter system. This was possible only in a simple economy but after the development of economy, direct exchange of goods without the use of money, was not without defects.” – http://informationbible.com/article-barter-system-13.html
I have referred you with the original domain (link) so that you can go read up more on that topic.
Well the barter system is still in place in various greater aspect like export and import. I couldn’t help myself but to detrack from my original topic. The finance and economical sector is sooo humongous that you can never stop learning from it. Different situations brew up everyday and new laws are always passed on the economical sector because when dealing with money there are always loopholes. When one hole is closed another will open. You can always read news on these matters on your daily new paper! How fraud is taking place in a business or even bombing an ATM machine is a huge headline. Money can make people cannibalistic!
Let me talk about assets now! If YOU think money is an asset, please think again. During inflation money loses its value..so is money an asset?? I know many people who accumulate loads of ching ching in their bank accounts…for what?? when asked what they are going to do with all this paper they say they are saving it and will invest later..seriously? invest later? For what? invest on air? People should grow up and start investing immediately on gold, property, hmm machinery depreciates so not much on machinery .. more on presious stones and even investing on education will make a difference in who you are. Just like to remind you that money market can crash at any stage as it once happened before. So if it crashes then what do you think will come into place? Barter system! For that you need to have tangible and long termed assets. Just imagine wall street filled with loads of peasants who didnt invest their money and loafing for a piece of bread. Wall street will turn into a barter market.
I would like to ask you again, so does money matter?
Being an accounting student, I feel privileged but many facts are coming to light and I cannot keep it a secret.My advice to all the readers in my own words source my knowledge,
“MONEY = PRECIOUS TIME. Don’t waste your precious time. Invest in precious assets. Be wise with your money today and benefit tomorrow!”