Placement Report at Abacus Business Advisors, Ltd Essay

Placement enunciate at Abacus Business Advisors, Ltd - Essay ExampleAbacus Business Advisors, Ltd. (Abacus) was reportedly incorporated on March 17, 2010. average two years in operation, this corporation is classified as private high society with three partners Ishtiaq Mahmood Farooqui, the managing director and Accountant with expertise in accountancy, book-keeping and transactions involving tax consultancy Ejaz Farooqui, also the Director and Accountant share the aforementioned(prenominal) expertise with Ishtiaq Mahmood Farooqui finally, Yomtov Eliezer Jacobs, was the Director whose expertise was in company formation. As such, his directorship was already classified as trifling at current times.Location and Contact NumbersAbacus is currently located at 9 Norville Terrace, Headingley Lane, Leeds in the join Kingdom. It is classified as a private organization that offers news report and auditing services as well as tax consultancy services. Its contact play is 0113 225 2026 and 0113 274 5508. It currently advertises its services through online sites such as the SeekAccountant.co.uk, TouchLocal.com, among others.Placement Job DetailsMajor Accounts and ResponsibilitiesIn my archetypal week, the basic few days were spent in orientation of the organizations story system. I had to be familiarized with their system to enable facilitation of filing, encoding, and working on basis accounting responsibilities book-keeping, beach reconciliation, among others. I was do to start off with sorting out deposit reconciliation in the first few weeks. I worked through the organizations general ledger accounts.... It is classified as a private organization that offers accounting and auditing services as well as tax consultancy services. Its contact number is 0113 225 2026 and 0113 274 5508. It currently advertises its services through online sites such as the SeekAccountant.co.uk, TouchLocal.com, among others. Placement Job Details Major Accounts and Responsibiliti es In my first week, the first few days were spent in orientation of the organizations accounting system. I had to be familiarized with their system to enable facilitation of filing, encoding, and working on basis accounting responsibilities book-keeping, bank reconciliation, among others. I was made to start off with sorting out bank reconciliation in the first few weeks. I worked through the organizations general ledger accounts that contained records of their cash and check transactions. Likewise, I worked through bank statements to reconcile and counter check that the cash and check transactions during the period at a lower place study to perfectly reconcile with the balances shown in both the general ledger and the bank statements. It was initially a difficult task given the details that one needs to check and countercheck these balances (bank versus book). Likewise, adjustments had to be made in terms of deposits in transit, any outstanding checks issued but not yet recorded by the bank, and the occurrence of some bank errors (as it normally happens). In addition, I had to adjust the balance in the companys books in terms of the need to deduct bank service charges, NSF check fees and fees for the issuance of checks. I also noted the need to add interests earned and any notes receivable, as identified. After comparing the truth of the balances, I finally had to prepare journal entries to