The Profit and Loss Statement or Income Statement shows a company’s income and expenses over a https://cryptobitas.com/what-trends-are-shaping-the-future-of-ethereum/ specific period, such as a month or year. The P&L can be used to see how your business is doing and whether it is making a profit or a loss. When a balance sheet is prepared, the current…
The fundamental accounting equation, also called the balance sheet equation, is the foundation for the double-entry bookkeeping system and the cornerstone of accounting science. In the accounting equation, every transaction will have a debit and credit entry, and the total debits (left side) will equal the total credits (right side). In other words, the accounting…
But before you do, let’s look at some questions you should ask yourself before making the decision. Bookkeeping and accounting work shouldn’t be something that is on your plate if you are a serious entrepreneur looking to scale your business to 6, 7, 8 figures, and beyond. And it is important Law Firm Accounts Receivable…
Cash flow plays a vital role in allowing businesses to operate optimally. Aging is considered the most important information when analyzing accounts receivables with ages above an appropriate number of turnover days that will negatively affect a company’s operations. Credit rating agencies factor in the composition of a company’s accounts receivable, among other things, when…