#accounting error

[madewithonerib]

Thx Andrew, this is fun, no I can't take the money out of the other jars to fill the food jar; some way to get money from the Gentile. LOL Obviously a play on the poor widow gathering sticks for her last meal, but this kind of reminds me of that joke Duncan Trussell made on Joe Rogan's show, where he pretended to be the head accountant for the US Treasury? It's one of my favourite jokes of all time..

And when asked by POTUS about accidentally giving Zelensky a few billion more than intended, he quickly replies "It's not a problem, there are all kinds of jars [pots of money] that can accommodate this hiccup. But POTUS presses him "How? That's a huge error, why won't it hit the fan later..? I want a proper audit into this now."

Duncan then says, "Oh no sir, you don't want to do that; it is a tight system of jars, multiple pots, it would make your head spin to go look at it. I barely have it straight, it's so complex."

Why don't I just see if google will pull it up for us to laugh at, one more time: Yes, beauty

$6.2 Billion Pentagon Accounting Error Went to Ukraine Military Aid | JRE

especially if the accountant didn't apologize: Oh we have so many pots, it's a pot thing it's allocated into pots, do you realize how complicated our pot system is..? You should see it, I've got a thousand pots back there, of varying sizes! It's even changed according to astrological ah shifts, don't even worry about it. It's just a pot, ok I've got to go LOL World's best accounting joke ever!!!

[luvthejem]

Let's talk about the $6.2 billion error....

[parkintellisolutions]

How does bank reconciliation work?

In our previous blog, we saw what bank reconciliation is all about, its purpose, and the importance of bank reconciliation. Today, let us have a look at how bank reconciliation works.

When reconciling a bank account you will be comparing your internal financial records with the records the bank provides you. Preparing a reconciliation statement every month helps you identify unusual transactions, this can either be a fraud or an accounting error.

How does bank reconciliation work?

Start by comparing the record of transactions your business maintains with the balance in your bank statement. Verify each transaction to make sure the amounts match perfectly and make a note of the differences if any. Few businesses prepare a bank reconciliation statement to document that they reconcile their accounts on a timely basis, let it be daily, monthly, or quarterly.

How and where to check the transactions?

Your company should be maintaining the data of all the internal transactions either on paper or in software. You can request your bank to provide you online access to your account. This way you can view and download the transactions for a comparison.

What happens if the transactions do not match?

Sometimes you might notice minor differences. This could be because of the timing which might include transactions that have not been cleared from the banks’ side.

Say, for example, you issue a check to a vendor and make a note of it in your internal accounting books. The bank will however show a higher balance until the check is processed in the bank.

If you can easily figure out the reason for the discrepancies then you need not worry else there are chances for a bigger issue that has to be addressed.

Thus, a regular review of the accounts can help you identify and solve the issues before they move out of your hands.

The best time to reconcile

Accountants say it is better to review your transactions every month. It is advisable for businesses that have a high volume of transactions to reconcile often rather than doing it monthly.

Start checking the transactions on your books with Park Intelli!

[learnprogress]

BREAKING: Chelsea Clinton Just DESTROYED Trump’s New Budget, It’s BRUTAL.

Team Trump just got exposed fudging the numbers of their new budget with $2 TRILLLION in accounting errors, so Chelsea Clinton, daughter of Hillary and Bill Clinton, took to Twitter to brutalize the Trump budget’s fake math. This kind of epic trolling is the best way to expose Trump’s toxic agenda.

Trump unveiled his tax plan this week, and most people QUICKLY realized it was a sham. His idiotic team was exposed as using the same $2 trillion for both tax cuts for the wealthy and balancing the federal budget—a classic technique known in the finance world as FRAUD.

Once people realized that the Trump White House was cooking the books to pull a fast one, Trump deployed his Budget Director Mick Mulvaney to defend the fudged numbers. So Mulvaney literally went before the pressed and doubled down on the fudged numbers.

“I’m aware of the criticisms and would simply come back and say there’s other places where we were probably overly conservative in our accounting,” Mulvaney said. “We stand by the numbers.”

But what the hell does that even mean? How can Team Trump stand by numbers that are based on a MASSIVE accounting error?

Well, cue in the perspective of Chelsea Clinton, whose response to Mulvaney was PERFECT. She tweeted out the caption “Alternative math?” and linked to an NBC tweet that read, “‘We stand by the numbers,’ Trump budget director says of $2,000,000,000,000 error that uses same money twice.”

Now that’s how to roast Donald Trump in just two words. Clinton is referring, of course, to Trump spokeswoman Kellyanne Conway’s assertion that the Trump administration goes by “alternative facts.”

Alternative math? https://t.co/IZ7JaUnKrR

— Chelsea Clinton (@ChelseaClinton) May 24, 2017

A $2 trillion accounting error being A-OK for the Team Trump is certainly the TEXTBOOK example of “alternative math.” Perhaps the biggest casualty of Trump’s presidency so far has been reason itself.

But Chelsea Clinton isn’t the only person skewering Trump’s fudged budget. Former Treasury Secretary Larry Summers BLASTED Trump’s budget, declaring it to have the “most egregious accounting error in a presidential budget in the nearly 40 years I have been tracking them.”

What an absolute nightmare, folks. Trump is waging an all-out campaign of lies to deceive the American people, and he NEEDS to be called out for doing so.

POLL: Is Trump working with “alternative math?”

What do you think, is Trump cooking the books with his budget? Or is he simply resorting to “alternative math?”

Here’s your chance to speak out. Please participate in our poll below and enter YOUR voice into the national debate!

When high-profile people like Chelsea Clinton turn a spotlight on Trump’s abuses, it makes a difference. And if MILLIONS of Americans do the same, we can all but guarantee Trump’s ouster before 2017 is over.

We in the Resistance have to keep exposing Trump day after day, night after night. It’s the only way to bring him to justice for his terrible betrayals of the American people.

Let’s make sure everyone sees Clinton’s tweet. Please share this story on Facebook ASAP.

The post BREAKING: Chelsea Clinton Just DESTROYED Trump’s New Budget, It’s BRUTAL. appeared first on Learn Progress.

from BREAKING: Chelsea Clinton Just DESTROYED Trump’s New Budget, It’s BRUTAL.