Beneficial Owner Information (BOI) Reporting
Beneficial Owner Information (BOI) Reporting refers to the requirement for certain entities (such as companies, trusts, or other legal structures) to...
How are prepaid expenses adjusted on the general ledger?
How are prepaid expenses adjusted on the general ledger? Prepaid expenses are items that a company has paid for in advance but has not yet consumed o...
IMPORTANCE OF BOOKKEEPING
IMPORTANCE OF BOOKKEEPING Bookkeeping is the systematic recording and organizing of financial transactions in a business. It's a crucial part of the...
Common Bookkeeping Mistakes and How to Avoid Them
Common Bookkeeping Mistakes and How to Avoid Them Bookkeeping is a crucial part of running a business, but it's easy to make mistakes that can lead t...
What is an Emergency Fund?
What is an Emergency Fund An emergency fund is a savings account that is set aside specifically for unexpected events or emergencies. It's...
What Are The 4 Important Activities in Bookkeeping?
What Are The 4 Important Activities in Bookkeeping? In bookkeeping, there are several important activities, but four fundamental ones include: R...
What are allowable expenses?
What are Allowable expenses? Allowable expenses are the costs incurred by a business that are considered to be normal and necessary for its...
What is Sensible Investing?
Sensible investing is an approach to managing investments that prioritizes long-term growth, risk management, and financial stability. It typically in...
Who really needs to work with a bookkeper?
Who really needs to work with a bookkeeper? Most businesses could benefit from working with a bookkeeper. Here are a list of who really needs one:...
Job order costing vs process costing
Job order costing and process costing are two distinct methods used in accounting and cost management to allocate costs to products or services. They...