Category: Bookkeeping

In the world of nonprofit work, the term “statement of financial position” is widely used to describe how an organization plans to use its money. The official financial position is similar to a balance sheet in that it provides visibility into what a group owes, owns, or has in cash reserves at any given moment.

Accountants, especially chartered accountants, often have their own practices. They contract to small business concerns or start-ups, producing financials and offering financial advice. They also could be employed by financial service companies catering to larger businesses. Sound bookkeeping practices in both personal and business finances provide an important foundation. This improves the chances of short

Hopefully these two bank options illustrate why accountants will report a negative cash balance as a liability. The following will illustrate why a negative cash balance is reported as a liability instead of being reported as why changing the corporate tax rate doesn’t help you a negative asset amount. For most small businesses, Operating Activities

There’s a wide array of small business tax deductions, some of them unique to specific business types. As part of an initial consultation with an accountant, ask them about the services they provide their clients. Discuss how they work with clients and how much experience they have in your industry. If you’re not having luck

These qualifications and courses are designed to blend core skills with key finance knowledge, to give you essential business skills. In addition to being relevant and reliable, accounting information should be comparable and consistent. Comparability refers to the ability to make relevant comparisons between two or more companies in the same industry at a point