No one knows your business as you do. You are the heart and soul of it, and its success or failure depends on you. But what would happen if something happened to you? How would your business survive without you? That’s where key person insurance comes in. This type of …

Accounts Expenses are an important part of accounting and can be defined as the costs that are not related to production. These expenses include items such as rent, utilities, insurance premiums, payroll taxes, or contributions to pension plans. Accounts expenses are also one of three classifications of assets on a …

The accounting for debt instruments involves various stages. Initially, it begins when a company obtains debt from multiple sources. When holding that debt, the company will perform several accounting treatments. The final stage during this process is the extinguishment of debt. This process may give rise to gains or losses. …

People often think of stakeholders as those who have a vested interest in the success of an organization. This is true, but there are many more types of stakeholders and they all need to be considered and understood. Stakeholders play a major role in an organization or project. While some …

Working from home has a lot of benefits- you can avoid rush hour traffic, save money on childcare, and work in your pajamas if you want to. But before you start working from home, there are a few things you need to know about business insurance. In this blog post, …

The accounting process for companies and other entities may differ. One of these entities includes government organizations. Usually, companies in the US follow accounting standards issued by the Financial Accounting Standards Board (FASB). For government bodies, they come from the Governmental Accounting Standards Board (GASB). GASB standards guide entities on …

If you are a business owner, then it is important to protect yourself and your employees with workers’ compensation insurance. This type of insurance can help you pay for medical expenses and lost wages if someone is injured on the job. In this blog post, we will discuss what workers’ …

To understand how important a company’s inventory is, many investors will look at the company’s inventory turnover ratio. It is an important factor for every business that deals with inventory. It gives an idea of how well the business can sell its inventory in a given time frame. A high …

Companies pay taxes due to their operations. Usually, these taxes fall under the corporation and other taxes. However, income taxes may also apply to individuals and businesses. These entities must calculate the taxes they must pay annually under the tax law. For entities that prepare financial statements, creating a provision …

Running a business can be risky. There are so many things that can go wrong, from product liability to employee theft. That’s why it’s important to have the right business insurance in place. In this blog post, we will discuss the different types of business insurance and what you need …