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July 15, 2021

Charles Lutwidge
What is the Present Value of an Annuity Table?

What is the Present Value of an Annuity Table?

What is an annuity? Buying goods or other property, the individual most often turns to the bank. A standard offer for repayment of a loan is an annuity, the cost of which can be calculated independently using an online calculator or..

Articles

July 14, 2021

Charles Lutwidge
Review of the 6 Best Virtual Bookkeeping Services in 2021

Review of the 6 Best Virtual Bookkeeping Services in 2021

An entrepreneur or a business owner does not have to know how to do bookkeeping. After all, when you need to have electrical work or plumbing done in your office, you hire an electrician or plumber. Why should you do bookkeeping..

Articles

July 13, 2021

Charles Lutwidge
Outsource Bookkeeping Solutions for Businesses

Outsource Bookkeeping Solutions for Businesses

Overview Accounting in an enterprise is a serious and responsible task. Loss of necessary information, errors in accounting, inaccurate reflection, and untimely preparation of financial statements entail many risks. At the same time, reducing costs and increasing efficiency are now more..

Articles

July 13, 2021

Charles Lutwidge
Comparison of Online vs Traditional Bookkeeping

Comparison of Online vs Traditional Bookkeeping

Nowadays, many activities can be carried out in the online environment. Digital technologies have not bypassed bookkeeping and accounting either. Online bookkeeping has become an effective way of keeping financial records, confidently replacing the traditional paper one. This way of running..

Articles

July 12, 2021

Charles Lutwidge
When You Should Outsource Your Bookkeeping?

When You Should Outsource Your Bookkeeping?

What business processes should be outsourced? Rational use of time, finances, and other resources is one of the motivators for optimizing the work of the entire company. Therefore, a successful leader periodically re-evaluates opportunities and chooses options for optimizing business processes..

Articles

July 09, 2021

Charles Lutwidge
Net Working Capital: Meaning, Measurement, and Optimization

Net Working Capital: Meaning, Measurement, and Optimization

In the course of their activities, many companies attract borrowed funds to finance current projects and expand the scope of their activity in the industry. However, it is worth remembering that the main feature of attracting any loan is the need..

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July 08, 2021

Charles Lutwidge
What Is the Meaning of Opportunity Cost?

What Is the Meaning of Opportunity Cost?

Definition Opportunity cost is the cost of production of a good or service, measured in terms of a lost (missed) opportunity to produce another type of good or service that requires the same resources. It is the lost profit as a..

Articles

July 07, 2021

Charles Lutwidge
What is GAAP in Accounting?

What is GAAP in Accounting?

Overview The main purpose of accounting is to provide interested parties with the information they need to make a decision. Generally Accepted Accounting Principles (GAAP) refers to the general set of standards and procedures that all bookkeepers and other specialists dealing..

Articles

July 06, 2021

Charles Lutwidge
Revenue Recognition Principle

Revenue Recognition Principle

Overview As we all know, earning revenue is the purpose of doing business. Revenues are created from day-to-day activities that a business was created to do, whether it is manufacturing and/or selling goods or providing services. Revenue is the income generated..

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