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Articles

May 01, 2022

Charles Lutwidge
What are Temporary Accounts?

What are Temporary Accounts?

Accounting is one of the most significant spheres of business management. Accounts used for different types of money flow. All entrepreneurs are acquainted with the fundamental account groups, such as income and costs. But financial consultants of.ten use temporary and permanent..

Reading Time 4 mins
0 / 5 (0 voted)

Articles

April 29, 2022

Charles Lutwidge
What are Period Costs?

What are Period Costs?

Period costs are one of the basic costs that companies must indicate in their financial statements. Nowadays, every successful entrepreneur must know how to report period costs. It helps fill out the ledger accurately and plan your budget effectively for manufacturing..

Reading Time 4 mins
5 / 5 (1 voted)

Articles

April 26, 2022

Charles Lutwidge
What is Cash Flow from Financing Activities (CFF)

What is Cash Flow from Financing Activities (CFF)

Businesses worldwide maintain three crucial financial statements. These statements include the balance sheet, income statement, and cash flow. Such financial statements objectively give an insight into such business aspects as financial performance, the level of management success, expansion and optimization prospects,..

Reading Time 5 mins
5 / 5 (1 voted)

Articles

April 22, 2022

Charles Lutwidge
What are Reorder Points and how to calculate ROP?

What are Reorder Points and how to calculate ROP?

No matter what business you run, it is essential to take special responsibility for your work to get the maximum benefit. It is necessary to work in such a way as to encourage the client to make a repeat order. Therefore,..

Reading Time 6 mins
0 / 5 (0 voted)

Articles

April 20, 2022

Charles Lutwidge
What is a Master Budget and why is it important?

What is a Master Budget and why is it important?

The master budget is a collective concept that includes all other business budgets, allowing you to consider the company’s financial situation from all sides. The master budget consists of the cash for staff salaries, marketing, production, and other company departments, forming..

Reading Time 4 mins
4 / 5 (1 voted)

Articles

April 18, 2022

Charles Lutwidge
Cash Flow Problems Facing Small Businesses and How to Solve Them

Cash Flow Problems Facing Small Businesses and How to Solve Them

Positive cash flow is vital for a thriving business. And still, many companies fail to secure a positive cash flow. In this article, we will take a look at the reasons causing issues and potential solutions to improve the situation. What..

Reading Time 6 mins
4.5 / 5 (2 voted)

Articles

April 15, 2022

Charles Lutwidge
What Is Payroll Fraud

What Is Payroll Fraud

Payroll fraud is damaging for any business, let alone a small company. It’s critical to spend time on detecting and preventing fraud. The very first step is to figure out what types of payroll fraud exist. After detecting payroll fraud types,..

Reading Time 5 mins
5 / 5 (1 voted)

Articles

April 14, 2022

Charles Lutwidge
How to Create a Business Budget for Your Small Business

How to Create a Business Budget for Your Small Business

Creating a business budget for a company is a tricky task. Some companies avoid the idea of creating business plans, and that’s a big mistake. Check out the article to learn about the importance of budgeting. You will also learn a..

Reading Time 7 mins
5 / 5 (1 voted)

Articles

April 11, 2022

Charles Lutwidge
Book Balance Definition

Book Balance Definition

The bank balance is the balance a bank reports on the company’s bank account at the end of the month. And the book balance is the internal general ledger record of that mentioned account. But what is the difference between these..

Reading Time 3 mins
0 / 5 (0 voted)

Articles

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