Articles

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..

Choosing a payroll schedule may be confusing. Every system has benefits and flaws, which doesn’t make it easier to make up one’s mind. Keep reading the article to learn about two payroll schedules: biweekly and semimonthly payrolls. Hopefully, the article will..

Investors know that buying a company’s stock leads to getting dividends. Moreover, buying the stock of a promising company can lead to an increase in the stock price in the future. As a result, the investor may get a good profit...

If you own a business with an inventory, the most critical thing is to maintain it properly. Without keeping an eye on the inventory, it may become obsolete. This article focuses on obsolete inventory and ways of treating it. Understanding Obsolete..

Small business owners have to deal with multiple various tasks. One of the most important tasks is handling finances. Such aspects as paying for rent and utilities, taking care of payroll, and properly maintaining inventory are just some of the expenses..

Having a business is fun since you get to make your dreams come true. But it also leads to responsibilities. Business owners have to file taxes, pay salaries and wages, keep documentation in order, and at the same time improve the..

1040 is an IRS (Internal Revenue Service) form. The IRS sends it to individual taxpayers to file their annual income tax returns. The form consists of sections that request individuals to disclose their taxable income gained during a specific year. The..

Notes receivable is a balance sheet item that reflects the value of the notes that the Company is to receive and for which it is to receive payment. Promissory notes are promises to pay money to another party on or before..

Asset retirement is the removal from a company’s journal by selling or decommissioning it. These are long-term assets that have contributed to carrying out a profit, such as a company’s machinery, technology, or vehicles. Business tracks asset disposals as equipment and..