Kategori Arşivleri: Bookkeeping

Accounting Technology: What it is and how it works

Consequently, the data generated from each of these different entities and processes need to be logged, retrieved, processed and managed efficiently – and this is where big data analytics comes into play. Controllers and assistant controllers prepare financial statements and reports that summarize and forecast a business’s activity and financial position. They may also develop […]

Today’s national mortgage & refinance rates, October 9th, 2023 Rates rise

Overlooking or misjudging these costs can significantly skew expected returns and lead to unforeseen financial implications. Performance-based fees can sometimes incentivize higher-risk strategies to achieve notable returns. Investors should be clear about their risk tolerance and ensure that the adopted strategies align with their long-term objectives. Affordable Startup Bookkeeping and Accounting Pricing Regularly evaluating these […]

Statement of Activities: Guide to Reading This Key Nonprofit Report

The audience of an organization’s financial reporting includes funders, donors, boards of governors and regulators. These stakeholders are mainly interested in the relationship between a nonprofit organization’s program expenses and its supporting expenses. They want to see how an organization’s supporting costs relate to and drive its programs. Since it is similar to an income […]

FIFO vs LIFO Definitions, Differences and Examples

TranZact is a team of IIT & IIM graduates who have developed a GST compliant, cloud-based, inventory management software for SME manufacturers. It digitizes your entire business operations, right from customer inquiry to dispatch. This also streamlines your Inventory, Purchase, Sales & Quotation management processes in a hassle-free user-friendly manner. By using older inventory before […]

How To Calculate Average collection period

A short average collection period suggests that the organization receives payments more quickly. However, there is a disadvantage to this, since it may imply that the company’s credit terms are excessively stringent. Customers who are dissatisfied with their creditors’ payment conditions may choose to seek suppliers or service providers with more liberal payment terms. Whereas […]

6 3.2: Notes Receivable Business LibreTexts

On the debit side, cash received pertains to receipt of the principal repayment and the interest income, the credit side pertains to the removal of the portion for promissory note as cash has been received against it. Similarly, the last credit records income that has been earned with the promissory note in the first year. […]

Capital Expenditure Budget Report Example, Uses

Net income is synonymous with a company’s profit for the accounting period. In other words, net income includes all of the costs and expenses that a company incurred, which are subtracted from revenue. Net income is often referred to as the bottom line due to its positioning at the bottom of the income statement. They […]