Financial Accounting

Financial Accounting involve recording financial data and preparing financial statements of entity based on accounting standards or reporting frameworks.

  • Types of Financial Statements
  • Element of Financial Statements
  • Balance Sheet
  • Income Statement
  • Accounting principle
  • Assets
  • Liabilities
  • Retained Earning
  • Trial Balance
  • Financial Statements Analysis
  • And others importance topics related to auditing

How Outsourced Accounting Can Manage Business Tax Workflows

Outsourcing refers to the process of hiring a third party to perform services usually done by the company’s employees or staff. Companies that outsource are usually trying to cut costs. For some small businesses, hiring an in-house team can be more expensive than outsourcing ad-hoc or ongoing tasks.  While the main driver for companies to …

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What is After Tax Operating Income (ATOI) And How to Calculate It

Companies earn revenues from their operations. However, they must also incur expenses to generate sales. The difference between both these represents the profit or income for a company. Another term used to describe this income or earnings is profits. Companies measure these profits at regular intervals to establish the profitability of their operations. In some …

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What is the Advertising Budget? ( Process and Method Included)

Advertising is a marketing tactic used by companies to promote a product, service, or cause. This tactic involves using media and other channels to spread awareness among customers. Through advertising, companies can influence existing customers and make new ones. Usually, it includes promoting products and services that companies provide. Its objective is to reach people …

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What Is the Average Advertising Budget for Small Businesses?

Advertising is a necessary expense that companies must incur for future success. Usually, this expense includes the costs that relate to promotional activities. Companies use these costs to promote their products and services. Through this, they can attract more customers and create brand awareness for their products. On top of that, advertising is also crucial …

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What Is Advanced Internal Rating-Based (AIRB)?

All entities face uncertainties that can hinder their objectives or goals from materializing. These uncertainties are known as risks. Usually, these come from several sources or can generate from different factors. The term risk represents the difference between actual and expected outcomes. Usually, these outcomes are significantly crucial for companies and all businesses. Every entity …

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“Deposit” Vs. “Down Payment” Vs. “Advance (Payment)”

For most contracts, companies pay after the goods or services get delivered. Usually, this process involves the company entering an agreement with the supplier. This agreement will mention the details of the transaction. Once the supplier satisfies their obligations, they will send the company an invoice. The company then pays for it, which concludes the …

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