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July 19, 2022

Charles Lutwidge
What is the Financial Accounting Standards Board (FASB)

What is the Financial Accounting Standards Board (FASB)

The Financial Accounting Standards Board is an independent non-profit organization launched to create and optimize financial accounting standards in the private business sector. Keep reading the article to learn more about FASB and how it works. You will also learn about..

Reading Time 4 mins
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Articles

July 15, 2022

Charles Lutwidge
What is a Deposit Slip

What is a Deposit Slip

You may have heard about deposit slips since they are commonly used when depositing money in a bank. In some cases, bank customers must fill out deposit slips to direct their funds to the correct bank account. A deposit slip identifies..

Reading Time 4 mins
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Articles

July 13, 2022

Charles Lutwidge
Mark to Market Accounting: What is it and How it Works

Mark to Market Accounting: What is it and How it Works

Mark-to-market is a way of estimating the fair value of accounts subject to fluctuations over time, for instance, assets and liabilities. Its goal is to provide realistic time-to-time estimations of the company’s or institution’s financial health based on the current market..

Reading Time 6 mins
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Articles

July 12, 2022

Charles Lutwidge
What Is a Voided Check and When to Use One

What Is a Voided Check and When to Use One

Writing paper checks used to be popular a few decades ago. Today, most people prefer managing their finances online. Moreover, it’s much easier to use electronic checks instead of paper ones. The statistics show that around 55% of US citizens prefer..

Reading Time 5 mins
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Articles

July 08, 2022

Charles Lutwidge
Total Equity Formula

Total Equity Formula

Equity in a financial world is a crucial concept and often has different meanings depending on the context. The most common type is related to shareholders’ equity. It is calculated by using the business’s total assets value and subtracting its total..

Reading Time 3 mins
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Articles

July 06, 2022

Charles Lutwidge
What is Reorder Point

What is Reorder Point

Maintaining the inventory is not as easy as one would think. A company must have enough items to supply customers, plus more items in case of unexpected increased demand. But buying too many items beforehand is not an option since it..

Reading Time 5 mins
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Articles

July 04, 2022

Charles Lutwidge
Bookkeeping and Accounting Tips for Small Business

Bookkeeping and Accounting Tips for Small Business

If you need to improve your business strategy, take a look at your bookkeeping method. Proper bookkeeping enables small businesses to plan their budgets, file taxes, reduce taxable income by claiming deductions, etc. Bookkeeping has a myriad of benefits, so it’s..

Reading Time 5 mins
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Articles

July 01, 2022

Charles Lutwidge
Debt Service Coverage Ratio (DSCR) Meaning

Debt Service Coverage Ratio (DSCR) Meaning

The debt service coverage ratio (DSCR) is a critical term for small business owners and individuals. DSCR indicates the ability of a company, business, or government to repay its debts. However, the ratio is more commonly used in the business world...

Reading Time 6 mins
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Articles

June 30, 2022

Charles Lutwidge
What is Accountancy

What is Accountancy

You may have come across two different concepts, such as accountancy and accounting. Is it the same term? Or these two concepts have different definitions. Check out the article to find out. Understanding Accountancy Accountancy is a process of managing all..

Reading Time 3 mins
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Articles

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