Gig economy and Reconciliation: Difference between pages

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The UK Chartered Institute of Personnel and Development (CIPD) defines 'gig economy' workers to include individuals who use an online platform to:
1. ''Cash management and accounting''.  
*Provide transport using their own vehicle (e.g. Uber)
*Deliver food or goods (e.g. Deliveroo)
*Perform short-term jobs (e.g. TaskRabbit)
*Undertake other similar services.


A reconciliation is any quantified explanation of the differences between two related amounts.


<span style="color:#4B0082">'''''Policy-makers struggling with gig economy'''''</span>
Reconciliation checks are an important feature of internal control systems, to provide additional assurance about the completeness and accuracy of recording financial and other information.


:"Some see it as part of a general shift of work towards less secure and more exploitative employment; others see it as creating a new form of flexible working that gives individuals new choices about how, when and where they work.


:"... policy-makers and others are struggling to come to terms with the phenomenon and what it might mean for employment practice, employment regulation and the quality of work.
A very important example is the reconciliation of bank statement balances with the amounts in the customer organisation's internal records.


:"The gig economy has not, as yet, fundamentally changed the nature of work in the UK...


:"The conventional employment statistics, however, do not provide a complete picture because some forms of atypical work cut across the distinctions between permanent and temporary. For example, many people on zero hours contracts - and many agency workers - have permanent contracts.
Another common accounting example is the reconciliation of reported operating profit to net operating cash flows.


:"Moreover, employment law recognises a category of ‘worker’ between employee and self-employed which is not reflected in the employment numbers."
This statement explains why the figure for accounting profit differs from the net operating cash flows for the same period.


:''To Gig or Not to Gig, March 2017, p2 - Chartered Institute for Personnel and Development.''
Each item contributing to the net difference is quantified within the reconciliation statement.
 
 
Another example is the comparison of a physical count of stock or other assets, compared with the amounts in financial or other records.
 
 
 
2.
 
An example of a reconciliation is a quantified explanation of the ''change'' in any balance, over a time period.
 
 
''Sometimes abbreviated to 'rec'.''




== See also ==
== See also ==
* [[Agency]]
* [[Accounting records]]
* [[IR35]]
* [[Bank reconciliation]]
* [[Unicorn]]
* [[Cash flow]]
* [[Zero hours contract]]
* [[Cash management]]
* [[Cash reconciliation]]
* [[Conciliation]]
* [[Full reconciliation]]
* [[Profit]]
* [[Tax reconciliation]]
* [[Variance analysis]]


[[Category:The_business_context]]
[[Category:Accounting,_tax_and_regulation]]

Revision as of 11:48, 3 May 2022

1. Cash management and accounting.

A reconciliation is any quantified explanation of the differences between two related amounts.

Reconciliation checks are an important feature of internal control systems, to provide additional assurance about the completeness and accuracy of recording financial and other information.


A very important example is the reconciliation of bank statement balances with the amounts in the customer organisation's internal records.


Another common accounting example is the reconciliation of reported operating profit to net operating cash flows.

This statement explains why the figure for accounting profit differs from the net operating cash flows for the same period.

Each item contributing to the net difference is quantified within the reconciliation statement.


Another example is the comparison of a physical count of stock or other assets, compared with the amounts in financial or other records.


2.

An example of a reconciliation is a quantified explanation of the change in any balance, over a time period.


Sometimes abbreviated to 'rec'.


See also