The business landscape is rapidly evolving. If a business plans to outshine and outperform the competition, it is crucial that it uses the fastest and newest technology available in the market. Such tools will not only allow it to get an edge over their competition but provide them the means […]
Accounting
Tips for Improving Cash Flow in Business
Cash flow is a very crucial aspect that determines the magnitude of success your business is capable of achieving. When it's high it means things are good but when it's low, you need to get worried. Many are the times that sustaining the required cash flow become a major challenge. […]
Non-profit Accounting Vs. For-Profit Accounting
If you are a recent accounting graduate or looking to change careers, you have a few decisions to make. One of these decisions is what kind of organization you wish to work for. While there are many types of organizations who can use your accounting skills, you can generally break […]
Why Become a Certified Public Accountant (CPA)?
Becoming a Certified Public Accountant is a challenge. You will have to endure 150 hours of education and undergo a grueling exam. After that, you will have to continue your education to stay up to date on the information you need for your license. While contemplating this workload you may […]
Components of the Cash Flow Statement and Example
In accounting, the balance sheet is a snapshot on a company’s finances at a fixed time; accordingly, the cash flow statement reflects the changes in company’s finance over a considerably longer time. The statement reflects both the cash inflow and the cash outflow for a specific period of time. The […]
What Is The Income Statement And Examples
Compared with the balance sheet reflecting the activity of a company at some point, the income statement shows the company’s financial situation over a long period of time. In other words, the income statement deals with the company’s revenues and expenses, presenting a summary of its financial activities from 3, […]
Types of Fixed Assets
Also called “tangible assets”, the fixed assets are used for the business operation, having a price higher than a predetermined threshold dollar amount when purchased and supposed to last at least one year. One of the generally accepted accounting principles-materiality-speaks about the importance of an accounting event concerning the financial […]
What is a Balance Sheet
The Balance Sheet depicts the financial situation of a company, measuring how healthy and profitable the company actually is. At the end of the accounting period (year, quarter, month), the balance sheet lists the company’s assets and the liabilities it owes. In other words, the balance sheet is about: – […]