Bookkeeping

If double-entry accounting seems intimidating, keep in mind that many online systems will fill in the backup entry for you. Your accounting system will ask for a copy of the…

Stakeholders are often more invested in the long-term impacts and success of a company. Shareholders and stakeholders also have different timelines for achieving their goals. Shareholders are part owners of…

Shareholders have the right to exercise a vote and to affect the management of a company. Shareholders are owners of the company, but they are not liable for the company’s…

Find resources and information about the initiatives through which the CPA profession strives to make financial education a lifelong endeavor for the public. If you need extra semester hours after…

Allows an unlimited number of users, but is not complex enough for businesses with more than a handful of employees; ideal for very small service-based businesses, freelancers or contractors. We…

It's important to note that the trial balance is different from the balance sheet. The balance sheet, on the other hand, is a financial statement distributed to other departments, investors, and lenders. The asset…

Inventory includes amounts for raw materials, work-in-progress goods, and finished goods. The company uses this account when it reports sales of goods, generally under cost of goods sold in the…

Generally, cash flow is reduced, as the cash has been used to invest in future operations, thus promoting future growth of the company. Companies are able to generate sufficient positive…

The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. The example above is for someone who’s paying taxes on 50% of their Social…

Accounting is the recording of financial transactions along with storing, sorting, retrieving, summarizing, and presenting the results in various reports and analyses. Accounting is also a field of study and…