The basic definition of accounting is a system of recording and summarizing business and financial transactions for the purpose of analyzing, reporting and verifying the results. What most people think of when you say accounting is really financial accounting.

General Ledger Accounting Software is essentially the core of any organization and a critical component of accounting in any commerce organization. It is the foundation for accounting setup and tracking and additionally the key resource for trend analysis, forecasting and understanding into the financial health of the organization. It aids in organizing all of the accounting records in a single central storage area which enables significantly easier tracking, monitoring, reporting and forecasting.

Recent changes made by the Finance and Expenditure Select Committee affect many property investors in regards to trusts set up for the placement of assets. The definition of associated persons was just one new area that complicated things for the investor; the Trust to Appointor test cited in section YB 11 is another area that perhaps needs further explanation.