Category: Finance

Gains and Losses

What are accounting gains and losses, and why do they matter to businesses and individuals? Accounting gains and losses are crucial to any business or individual financial dealings. These are the profits or losses resulting from a financial transaction. For businesses, accounting gains and losses refer to the difference between revenues and expenses during a… Continue reading Gains and Losses

Sales Accounting – What You Absolutely Need To Know

Basic Sales Accounting All business starts with sales – and recording those sales transactions is known as sales accounting. We will explore a few elements of sales accounting that entrepreneurs need to know. Sales accounting is the process of recording and reporting sales transactions. Sales accounting is a vital part of any successful business. At… Continue reading Sales Accounting – What You Absolutely Need To Know

What Is Profit? – Crucial Elements You Need To Know

As an accountant, you prepare three primary financial statements representing a business. The income statement reports the profit-making activities and bottom-line profits or losses generated by your company over specified periods. The balance sheet is a snapshot of the company’s financial position at one point in time and includes everything from accounts receivable to shareholder… Continue reading What Is Profit? – Crucial Elements You Need To Know

What is Personal Accounting – Crucial Things You Need To Know

What Is Personal Accounting? As an entrepreneur, you need to keep score – not only for your business – but for yourself. Personal accounting is the accounting and bookkeeping you do for your finances and is handled a little differently than your business accounting. Knowing these differences and keeping them separate will help you keep… Continue reading What is Personal Accounting – Crucial Things You Need To Know

6 Things That Will Screw You Out Of Unemployment Insurance Payments

If you suddenly find yourself without a job, don’t worry! You may be eligible to receive unemployment benefits. Most people believe you’re ineligible for these payments if you quit your job, but this is not always true. Keep in mind, though, that there are certain things- like quitting before the end of an agreed contract… Continue reading 6 Things That Will Screw You Out Of Unemployment Insurance Payments

Bookkeeping Basics

What’s The Difference Between Accounting and Bookkeeping? It is a common misconception that bookkeeping and accounting are the same things. While they both have to do with finances, one function of an accountant’s job is providing reports based on findings from work done by a bookkeeper. One of the many tasks a business accountant is… Continue reading Bookkeeping Basics

CPA or Controller – What’s The Difference?

CPA or Controller? Do you need a CPA or a controller? Accounting is a common occupation for those who want to use mathematical skills. There are many career paths within this profession, ranging from entry-level bookkeeping to a company’s Chief Financial Officer; however, one must have the necessary qualifications before obtaining these positions. One must… Continue reading CPA or Controller – What’s The Difference?

What is Bookkeeping?

What Is Bookkeeping? In a nutshell: What does a bookkeeper do? They work all day long and ensure the company’s finances are balanced by balancing budgets, recording transactions, and analyzing cash flows. The accounting department also calculates important metrics like your business’s gross margin or net profit. Although their jobs might seem dry at first… Continue reading What is Bookkeeping?

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