July 31, 2021
Charles Lutwidge
Cash Reconciliation: What Is It and How to Perform It?
Overview Cash reconciliation takes place mainly at the cash register. This is typically a form with a checklist that employees fill out at the beginning of the shift and the end of the shift. It is an important part of...
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July 31, 2021
Charles Lutwidge
The Basics of Lease Accounting
Overview If you want to use a piece of machinery, equipment, and so on, you have two options: you can buy the asset or you can find someone who can lease it to you. Lease is an integral part of...
July 31, 2021
Charles Lutwidge
Business Valuation Formula and Purpose
Overview To attract investment, you need to understand what share of the company you are willing to give for a given amount of money. This step is only possible if you calculate the value of your business. Also, more and...
July 31, 2021
Charles Lutwidge
Explanation of Future Value of an Annuity with Examples
Value of Money Financial management requires the constant implementation of various calculations related to cash flows in different periods of time. Estimating the value of money over time plays a key role in these calculations. Its essence is that the...
July 31, 2021
Charles Lutwidge
What Is a Budget Report?
Definition One of the main distinguishing features of management accounting is its focus on the current and future activities of the enterprise. For financial management accounting, financial planning, which is also traditionally called budgeting, is responsible for the present and...
July 22, 2021
Charles Lutwidge
Cash Flow from Assets
Company managers, investors, and other parties are interested in financial security and business stability, which is largely determined by the generated cash flow. Cash flow is the sum of cash receipts and payments for a certain period of time, which...
July 22, 2021
Charles Lutwidge
Explanation of Prepaid Insurance with Example
Prepaid Expenses Insurance is obviously an expense to a business. Thus, before we look at prepaid insurance, let’s look at a definition of prepaid expenses. Prepaid expenses are an asset, which means it is something that your business owns and...
July 21, 2021
Charles Lutwidge
What CPAs are
Introduction: “Behind every good business is a great accountant.” – Anonymous Accountants are the backbone of financial management in businesses and organizations. Practical accounting leads to superior financial statement turnouts. Without these fine folks, companies would drown in the ever-growing...
