Bookkeeping

Reconciling bank statements is an important task ensuring your records match your business account’s actual transactions. Any discrepancies should be identified and corrected promptly to maintain accurate financial records. construction bookkeeping Regular reconciliation also prevents potential issues with vendors, clients, or even tax authorities, and is an integral part of maintaining proper construction bookkeeping. Bookkeeping …

Construction Accounting: Full Guide for Contractors 2024 Read More »

Every modern accounting system is built on the double entry bookkeeping concept because every business transaction affects at least two different accounts. For example, when a company takes out a loan from a bank, it receives cash from the loan and also creates current portion of long term debt cpltd a liability that it must …

Double-Entry Accounting: What It Is and How It Works Read More »

While most owners invest for positive cash flow, there are some situations in which a property is generating negative cash flow. This can be a one-time occurrence, or something that happens on a regular basis. Cash flow is the generic term used to describe the total income a property generates after all operating expenses have …

Cash Flow Statement: Analyzing Cash Flow From Financing Activities Read More »

Overheads are indirect costs since these can’t be directly linked to the production of goods. Fixed costs tend to remain fixed or constant with changes in the volume of output, whereas variable costs typically vary in a directly proportional way based on changes in the volume of output. Under this system, costs are ascertained after …

Costing Methods: Types of Costing in Cost Accounting Read More »

In the UK, accountants and management accountants typically have a bachelor’s or master’s degree in accounting. Many accountants will also train further to specialise in the accounting profession and may choose to get certified with one of the UK’s official accounting bodies. That being said, accounting core values — which include integrity, accountability, professional skepticism, …

A guide to accountant roles and responsibilities Read More »

Bonus depreciation can deliver serious tax savings for your small business. Residual value is the estimated salvage value at the end of the useful life of the asset. Free up time in your firm all year by contracting monthly bookkeeping tasks to our platform. Implement our API within your platform to provide your clients with …

Double Declining Balance Depreciation: Calculation and Examples Read More »

Cost accountants also analyze actual costs versus budgets or standards to help determine future courses of action regarding the company’s cost management. The ever-evolving regulatory framework necessitates accountants to remain well-versed in compliance requirements. Accountants are increasingly becoming experts in navigating complex regulatory frameworks to ensure organizations operate within legal bounds and meet reporting obligations. …

What is Accounting? definition, branches and functions Read More »

Increases in deaths from excessive alcohol use during the study period occurred among all age groups. A recent study found that one in eight total deaths among U.S. adults aged 20–64 years during 2015–2019 resulted from excessive alcohol use (9). Because of the increases in these deaths during 2020–2021, including among adults in the same …

Alcohol use in teens: Risks, statistics, and prevention Read More »