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…
The Ultimate Guide to Online Bookkeeping: Managing Your Finances in the Cloud
Table of Contents: Introduction to Online Bookkeeping Benefits of Online Bookkeeping Accessibility and Flexibility Enhanced Security Features Integration with Business…
6 QuickBooks Online Accounting Tips
QuickBooks is an extremely versatile and flexible accounting software. Millions of small business owners all around the world use the…
Year-end Accounting Tips for Small Businesses
It is the most wonderful time of the year again, time for holidays, parties, sparking light, and decorations. With holidays…
