10 Common Strategies for Small Businesses to Minimize Taxes in the US
Small business owners can minimize taxes through various legitimate methods. You can significantly reduce the tax amount through proper tax…
The Importance of Accounting Ratio Analysis in Small Business Appraisal
Small businesses owners must have a basic understanding of the accounting ratios. The ratios can help business owners to know…
How Accounting Software Boosts Small Business Growth
Accounting software can be used to record and classify business transactions. Some accounting software also helps in invoice management, payroll,…
How is Depreciation Expenses Calculated?
Fixed assets of a business such as computers and equipment, vehicles, machinery, furniture, and fixture lose value over time. The…
What is Amortization Expenses: A Guide for Business Owners
Business owners must allocate the cost of the assets over their useful life. Allocating expenses over a period will result…
What is the Accounting Equation that is the Basis for the Double Entry Accounting System?
The accounting equation is the fundamental part of the double-entry accounting method. The equation is a simplified version of the…
What is the Conservatism Principle of Accounting?
The accounting principle of conservatism – also referred to as the concept of prudence – ensures that the financial statements…
Who Uses a Double Accounting System
A double entry accounting method involves making two entries at the same time. Public companies are required by law to…
Job Order Costing: An Overview
The job order costing method involves assigning manufacturing costs to a unit of output. The accounting method is used by…
Dealing with Late Payers
Late payers can be the bane of any small business which is why it’s so important to stay on top…
