Category Archives: Bookkeeping

Prepaid Expenses Guide: Accounting, Examples, Entries & More Explained

This can help you track your spending and allocate funds for upcoming expenses. In fact, according to a recent survey, 61% of business owners report that cash flow is their biggest challenge. Without proper management and understanding of how to handle your expenses, this can be an even bigger problem. Not only can it […]

Is the Cost of Goods Sold on the Balance Sheet?

Knowing your business’s COGS helps you determine your company’s bottom line and calculate net profit. You only record COGS at the end of an accounting period to show inventory sold. It’s important to know how to record COGS in your books to accurately calculate profits. For oil-drilling companies, one of the most important figures you […]

How to Prepare a Balance Sheet: 5 Steps

However, it is common for a balance sheet to take a few days or weeks to prepare after the reporting period has ended. Noncurrent assets are long-term investments that the company does not expect to convert into cash within a year or have a lifespan of more than one year. If a company or organization […]

Accounting of Deferral Accrual and Prepayment Expenses?

If a company incurs an expense in one period but will not pay the expense until the following period, the expense is recorded as a liability on the company’s balance sheet in the form of an accrued expense. When the expense is paid, it reduces the accrued expense account on the balance sheet and also […]

The Best Professional Employer Organizations PEOs in 2024

For this guide, we reviewed 14 PEO companies for small businesses and narrowed the list down to our top nine recommendations. However, the best PEO company is the one that caters to your needs the most. That said, take some time to evaluate your business’s requirements to identify where you need help the most. A […]

International Financial Reporting Standards IFRS and IFRIC Interpretations

This new Standard responds to investors’ demand for better information about companies’ financial performance. The use of IAS is not mandatory, but many countries and companies have adopted them as their own accounting list of ifrs standards or have converged their national standards with IAS. The IASB is an independent organization that was established in […]