Civil Engineeering, Accounting

Our Mission: ESTABLISHING AN INDUSTRY-BASED TRAINING PROGRAM forr children who want be an eagle.

Our Vision: PROVIDE A GUILDLINE TO ESTABLISH YOUR PROFESSIONAL DREAM COMES TRUE.

   Cook Engineering, Inc.     245 E Main Street, #116, Alhambra, CA 91801    

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General Ledger, Book Keeping, Income Statement, 

California board of accoutancy license is available on web page:   https://www.dca.ca.gov/cba/

What is  International Qualification Examination (IQEX)   see https://nasba.org/exams/iqex/

or

 https://accounting.uworld.com/cpa-review/international/iqex-exam/?gclid=CjwKCAiAvaGRBhBlEiwAiY-yMMTLQqKsJnHTQ12oB9ASDg1wP21LR0RvuTVwqFmKlPnM8_MOnCsQ7RoC1p0QAvD_BwE

Assets. - Properties used in business that are owned and have monetary value; for instance, cash, inventory, buildings, equipment. Liabilities. Amounts owed to outsiders, such as notes payable, accounts payable, bonds payable. These are known as claims to creditors. Liabilities may also include certain deferred items, such as income taxes to be allocated.

Liabilities.-  Amounts owed to outsiders, such as notes payable, accounts payable, bonds payable. These are known as claims to creditors. Liabilities may also include certain deferred items, such as income taxes to be allocated.


Owner’s Equity. - The interest of the owners in an enterprise. These three basic elements are connected by a fundamental relationship called the accounting equation. This equation expresses the equality of the assets on one side with the claims of the creditors and owners on the other side: Assets = Liabilities + Owner’s Equity According to the accounting equation, a firm is assumed to possess its assets subject to the rights of the creditors and owners.

The Income Statement - The income statement may be defined as a summary of the revenue, expenses, and net income or net loss of a business entity for a specific period of time. This may also be called a profit and loss statement, operating statement, or statement of operations. Let us review the meanings of the elements entering into the income statement.

The Balance Sheet - The information needed for the balance sheet items is the net balances at the end of the period, rather than the total for the period as in the income statement. Thus, management wants to know the balance of cash in the bank and the balance of inventory, equipment, etc., on hand at the end of the period. The balance sheet may then be defined as a statement showing the assets, liabilities, and owner’s equity of a business entity at a specific date. This statement is also called a statement of financial position or statement of financial condition. In preparing the balance sheet, it is not necessary to make any further analysis of the data. The needed data    —that is, the balances of the asset, liability, and owner’s equity accounts—are already available.

Current assets. Assets reasonably expected to be converted into cash or used in the current operation of the business. (The current period is generally taken as 1 year.) Examples are cash, notes receivable, accounts receivable, inventory, and prepaid expenses (prepaid insurance, prepaid rent, etc.). Fixed assets. Long-lived assets used in the production of goods or services. These assets, sometimes called plant assets, are used in the operation of the business rather than being held for sale, as are inventory items. Other assets. Various assets other than current assets, fixed assets, or assets to which specific captions are given. For instance, the caption Investments would be used if significant sums were invested. Often companies show a caption for intangible assets such as patents or goodwill. In other cases, there may be a separate caption for deferred charges. If, however, the amounts are not large in relation to total assets, the various items may be grouped under one caption, Other Assets.

Current Liabilities. There are liabilities that are due for payment within the operating cycle or 1 year, whichever is longer. The settlement of a current liability usually requires the use of current assets. The ratio of current assets to current liabilities, or current ratio, is a useful index of a company’s debt-paying capacity. It tells how many times current liabilities could be paid with current assets.

Business entity. - Accounts are kept for business entities rather than for the persons who own or are associated with the business.

 

NATURE OF ACCOUNTING Every element of society—from the individual to an entire industry or government branch—has to make decisions on how to allocate its resources. Accounting is the process that aids these decisions by (1) recording, (2) classifying, (3) summarizing, and (4) reporting business transactions and interpreting their effects on the affairs of the business entity. This definition makes it clear that the recording of data, or bookkeeping, is only the first and simplest step in the accounting process.



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Should you get a professional engineer stamp? According to the National Society of Professional Engineers (NSPE), government agencies, educational institutions, and private industries are requiring contract work with licensed professional engineers in greater numbers today. Not only is a PE Stamp of higher demand, it also shows that you hold your work to a higher standard. So, in other words, yes, you should.

A 2012 Complaint and Inquiring Statistics report from the Better Business Bureau (BBB) shows there were 3,205,409 inquiries into the business practices of roofing contractors, the highest number of all industries that year. With such dissatisfaction in the industry, it’s important to show your dedication to the quality of work—and a professional engineer stamp can do just that.

Here are 5 reasons to get a PE Stamp:

1. Ensure the System Will Perform 

According to NSPE, professional knowledge is best demonstrated when a PE has been retained by the contractor, “and is personally aware of a project's scope, needs, parameters, limitations and special requirements.” It takes many years of education and experience to become an engineer—having that qualified person back your work shows your dedication to its quality.

2. Gain Government Approval

The National Council of Examiners for Engineering and Surveying (NCEES) explains, “Professional licensure protects the public by enforcing standards that restrict practice to qualified individuals who have met specific qualifications in education, work experience, and exams.” These qualifications for licensure are regulated by state. When a PE backs your project, the state will easily recognize its legitimacy and give approval.

3. Shift Responsibility 

A PE Stamp carries the weight of a professional engineer’s approval. Along with that, the engineer is stating that he or she will be responsible for the integrity of the system. Let’s say you had a cold for a few weeks and were positive it was a respiratory infection, so you go to your doctor. However, your doctor says you have cancer and begins aggressive treatment. When you eventually find out you only had an infection, the fault isn’t yours, it’s the doctor’s. By placing your trust in a PE, they become responsible for your project’s integrity. As they should—like a doctor, he is an expert in the field.

4. Gain Credibility

According to the National Society of Professional Engineers, a PE Stamp demonstrates that a professional engineer placed his or her “registration seal on any drawings, designs, plans, descriptions and/or specifications that he or she did not author or for which he or she did not have personal professional knowledge and direct supervisory control and responsibility.” Project officials concerned with structure integrity and state requirements will be impressed by a PE Stamp.

5. Meet all Local and State Codes

Professional engineers must go through a lengthy process while analyzing plans and submitting approval to the state. PEs are more familiar with state codes and regulations and will be able to guarantee your system meets all requirements. In the case that it doesn’t, PEs will know how to bring your project up to code and earn their stamp of approval.