Bookkeeping is the process of recording your company’s financial transactions into organized accounts on a daily basis. Nancy holds a Bookkeeping Certificate from De Anza College. Beyond her professional accomplishments, Nancy is a dedicated wife and mother of two teenage boys. When not immersed in the world of finance, sheRead More

In accounting, if a piece of machinery was purchased five years ago at $50,000 and is now worth $30,000 in the market, its current value on the balance sheet would be $30,000. Companies operating in highly volatile markets or those experiencing significant inflation often prefer CVA. This includes industries likeRead More

This information allows businesses to better manage cash flow and plan expenditures, investments, and operational activities accordingly. By clearly understanding the expected cash inflows, an accounting department can mitigate potential gaps and make informed decisions to avoid liquidity issues. Cash flow keeps your business running, and an aging report helpsRead More

By the time you finish reading, you’ll know if Bench lives up to the hype or if another bookkeeping solution is your answer. Save time & money by hiring the experts in business accounting. We can add a catch up service to your account so you’re squared away. Developing CustomRead More

Put simply, Airbnb accounting is about recording income and expenses related to your short-term rental property. airbnb bookkeeping Although this sounds easy, making accurate calculations can be tricky, especially when you manage several Airbnb listings. You need to keep track of your income, calculate expenses, take advantage of tax deductions,Read More

Auditing is a systematic and independent examination of an organisation’s financial records, operations, or systems to ensure accuracy, compliance, and efficiency. It provides an objective assessment of processes, identifies potential risks and weaknesses, and offers recommendations for improvement. Whether you’re a small business owner, a large corporation, or a non-profitRead More

Variable manufacturing overhead costs are indirect costs that fluctuate with changes in production levels. Examples include costs related to electricity, water, and supplies used in the manufacturing process. Understanding the formula for absorption costing is pivotal for accurate financial reporting and decision-making. This method ensures that all manufacturing costs areRead More

Labor represents the human contribution to the production process. This encompasses both physical efforts, such as manual labor, and mental efforts, such as strategic planning or creative work. Capital finance is sometimes called the “fifth factor of production,” but that’s not accurate. Money facilitates production by providing income to the owners ofRead More

Peer reviews or feedback from colleagues can highlight areas for improvement that may have been overlooked. With practice and attention to detail, you can master the art of writing accounting memos that serve your organization well. By following the guidelines in this guide, you can create professional memos that effectivelyRead More