Blog

One of the characteristics of a market economy is the competition between businesses, and the most important financial indicator for a business is profit. The forces that stimulate growth, along with other economic indicators, show the business entity’s efficiency. Further development..

Businesses are complex systems made up of many components that all need to work together to succeed. With no marketing, sales won’t be made, and without staff, a product won’t be developed, etc. Business relationships can be challenging to track and..

The main goal of any business is to maximize profits, and how well a business thrives depends on what economic resources are available to it. A simple equation can be used to represent these resources (assets) and show where they came..

The accounting equation can have many forms and a variety of uses in bookkeeping. You should not ignore any accounting equation if you want your business to be successful, as this equation is the foundation of your company’s balance sheet, which..

As a small business owner, you’re focused on providing a profitable product or service and achieving business growth, meaning more cash for you now plus a higher sale price in the future. Having accurate financial data is a priority for long..

Should you record the sale you just made in accounts receivable, your daybook, or a general ledger? All? None? You can document financial transactions in a number of different records. Read on to clear up the confusion on which is which...

Every business (and every nonprofit) needs bookkeeping services. There are a lot of options: you could hire a bookkeeper as an employee, contract the work out to an independent bookkeeper, work with a bookkeeping firm, or some combination of these options...

What exactly is the difference between accounting and bookkeeping? These two labels are sometimes used interchangeably, so it’s no wonder the matter can be confusing. Let’s briefly explore the two jobs to clarify their roles in business finance. Bookkeeping, for its..

One of an accountant’s basic goals is to keep accurate and useful records of financial transactions. Individuals, small firms, large corporations, and even whole countries faced with this task have two major methods from which to choose: the cash basis of..