Keeping the finances in order is a crucial aspect of any business. To do so, it is necessary to have a record of the financial transactions that took place within the business. The trial balance is an important part of this process and focuses on keeping all of the books …

Auditing involves examining an entity’s financial statements. The primary purpose of this process is to ensure the underlying subject matter is free from material misstatements. However, auditors cannot investigate every amount with discrepancies. Usually, they work with time and resource constraints. In these cases, establishing an amount for acceptable levels …

Do you know the difference between business insurance and personal insurance? If not, don’t worry – you’re not alone. Many people don’t understand the distinction between these two types of coverage. In this blog post, we will discuss the key differences between business insurance and personal insurance. We will also …

To understand a company’s valuation, there are different ways to analyze it. One of the most popular methods is the Enterprise Value (EV). Enterprise Value is very useful for investors to compare the size of different companies. It also makes it easier for enterprises to identify the value of acquisitions. …

Inflation is one of the most important concepts to understand when it comes to economics. It can be a little tricky to understand, but it’s crucial to know if you want to make sense of what’s going on in the world economy. In this blog post, we will explain what …

The accounting for nonprofit organizations (NPOs) differs from other entities. Accounting standards require these entities to use a different format when reporting their expenses. On top of that, these standards require them to present those expenses in a specific financial statement. NPOs prepare the statement of activity, where they must …

If you own a business, it’s important to have insurance. But what happens if you already have insurance through another policy? Can you still add business insurance? The answer is yes. In this blog post, we will discuss how to add business insurance to your existing policy. We will also …

There are a lot of things that go into running a business. You have to make sure you have the right products and services, market yourself effectively, and manage your finances. One important thing to consider is insurance. Is business insurance mandatory? The answer is not necessarily, but it is …

Net Working Capital or NWC helps you identify the difference between debts and assets. It helps businesses to determine the current financial health of their company. Once they know where they are standing financially, it helps them to make an informed decision about their short-term investment. The information that NWC …

Variance analysis is a technique used in managerial accounting. It allows companies to calculate the difference between expected and actual figures. Consequently, they can investigate how those variances occurred. Variance analysis can apply to various areas if a company has a budget. One of these includes sales and revenues. Among …