Blogs

29
May

What are the Four Basic Financial Statements in Accounting?

Financial statements hold the key to determining the financial health of any organization. These critical documents provide an overview of a company’s essential financial information. While this information can be complex for some, it is imperative that management learn how to read and interpret these statements to ensure their company’s continued success. WHAT ARE THE FOUR FINANCIAL STATEMENTS IN ACCOUNTING?
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28
May

What are the Differences between Accounts Payable and Accounts Receivable?

The success of a business is often determined by its financial condition. Strategic elements that affect the profit and income such as risk management and investments are often considered in assessing the financial condition. Be that as it may, the financial success of any organization is conditional upon the effectiveness of cash flow management. This is ascertained by accounts payable

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27
May

How to Calculate Gross Margin for a Business

A financial report will contain a range of metrics, numbers and ratios. For keeping the organization financially healthy, the management must be capable of understanding these reports. Of the several concepts in these reports, one of the most important is the gross margin. Knowing how to calculate margin is essential as well. What is the Gross Margin? For an organization,
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26
May

6 Current Trends in Accounting that Could Change Your Business

The accounting industry is in the midst of changes as it struggles to cope with the fallout of the global financial crisis. The crisis made a major impact on several businesses all over the world, causing them to reexamine their business processes and strategies. It has also made them look at their own accounting departments and take steps to update

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25
May

How to Calculate the Break-Even Point for a Service Business

Businesses nowadays tend to fall short of their calculations and some even wallow on the idea of simply meeting the expenses all the time because their sales are barely covering the overall costs. Now, this is why you should know how to calculate the break-even point. But first, let’s learn the meaning of the break-even for a service business. What
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23
May

Key Roles and Responsibilities of a Chief Financial Officer

In any business, a chief financial officer is a vital position. The responsibilities of a chief financial officer, also known as a CFO, have a tremendous impact on a company. Whether you’re looking to hire a CFO or revamp your existing CFO’s job description, having an understanding of their typical responsibilities can strengthen your company’s mandate.

18
May

What are the Different Types of Accounting?

Accounting services are always going to be something that small (and even medium to large) business owners need to consider. When you reach a certain level of success, you’ll need other individuals to help handle the financial tracking of your endeavours. Failing to do so could result in loss of profit, and in the worst-case scenario, complete business closure. There

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16
May

Accounting 101: The 9 Steps of the Accounting Cycle

For any organization to succeed, it will need proper documentation from the onset. Whether you outsource this service or have an in-house accountant, a good accounting cycle gives you a clear understanding of crucial financial matters. WHAT IS THE ACCOUNTING CYCLE? The accounting cycle is the cumulative process of recording and processing the accounting events of a company. It starts
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11
May

How Long Must a Company Keep Its Business Records?

In the era of going paperless, it’s easy to save your business’ financial statements, but how long must a company keep business records for?

4
May

What is Bookkeeping and What Does a Bookkeeper Do?

While essential to a company’s financial health, bookkeeping can be a responsibility shrouded in mystery. Having an understanding of this important function and how it can help your accounting department can empower you to be a better business owner.

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