Tax season is not a happy one for most people. The reasons include the complicated process of tax returns and making sure that financial statements are up to date. Besides, ensuring that everything is reported with compliance and you’ve claimed all possible deductions is also a concern. And this problem is common whether an individual […]
What Are the Key Differences Between Turbotax Online Vs. Desktop? Read More »
The accrual accounting system is the most prevalent method of accounting used by small businesses and large corporations. The method implies that the expenses and revenues should be part of the income statement only in the financial year they are incurred or earned. It means that cash payment or receipt of the expenses and revenues
Is Prepaid Rent a Current Asset? (Is It Debit or Credit) Read More »
With the increase in automation and dependence on tech-based solutions has made life easier. On the one hand, several professionals are more empowered, but at the same time, a small technical fault or breakdown paralyzes the system. For instance, if the customer management system is not working, you would panic because things have stuck at
How To Resolve A Quickbooks “Unexpected Error”? Read More »
Automation, technology and IT has revolutionized almost every industry and business sector. There also has been a trend of tech startups in the finance and accounting industry. Different accounting software, fintech solutions, applications, and platforms have evolved how accountants would do their job. Instead of hiring CPAs and accountants, small businesses often rely on accounting
Is Quickbooks Certification Worth It? (Best Alternatives Included) Read More »
The preparation and verification of financial statements of a business entity involve a series of procedures and methods. Auditing, investigating, and verifying financial statements are methods adopted to ensure that the financial information presents a true and fair view of an entity’s financial performance. The process of audit is significant for any business entity to
What Is An Assurance Associate? (Roles, Responsibilities, and Qualifications) Read More »
Whether small or large corporations, every business entity prepares financial statements to convey the business information and activities undergone throughout a financial period. The financial statements of a company provide information about the financial performance and health of the entity. The most common financial statements are income statements, balance sheets, statements of cash flow, and
What Is The Difference Between Audited And Unaudited Profit and Loss Statements? Read More »
Many people believe that accountants make a lot of money. While others are not sure and often wonder if accountants make good money. The second type of people are usually those who want to pursue a career in accounting but not sure if it’s a wise decision or not. Usually, how much an accountant makes
Do Accountants Make Good Money? Read More »
Almost all of us have faced a situation when the bills are due and the incomes have not come around yet. Bank overdraft is ideal in such situations, It is one of the most common sources of short-term financing, especially for small and medium enterprises (SMEs) with fluctuating financial requirements. It works as a backup
Bank Overdraft: Journal Entry and Example Read More »
What image appears in your mind when someone says, accountant? Most people would imagine an old gentleman with a well-ironed shirt, spectacles with thick glass, and a green visor. He would probably be accompanied by heavy registers, ledgers, and an intense light above his head. Surely, it would be an image of an accountant if
Why Do Accountants Stereotypically Wear Green Eyeshades? Read More »
Accounting has become the most significant and basic function of any business operating in any industry, irrespective of business size. Either in-house or outsourced, every business and company needs an accountant to manage the financial data. But was accounting always there? It’s a question for many. The answer is that accounting has always existed in
What Are Primary Functions Of Accounting? Read More »