Accounting & Bookkeeping

What is Cost Accounting? A Comprehensive Overview

What is cost accounting

Keeping track of, analyzing, summarising, and studying the costs incurred by the firm for any procedure, service, product, or other elements of the organization is a part of the business discipline known as Cost Accounting. This supports the company’s efforts to manage costs, plan strategically, and make decisions that will increase cost-effectiveness. The management can …

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Benefits Of Bookkeeping In Real Estate

BookKeeping In Realestate

All businesses must keep clear records of all their monetary transactions. That includes invoices, signed or canceled cheques, receipts, petty cash vouchers, and income. The same applies to all real estate companies, whether they list property sites, property developers, house moving companies, or property management agents. They can also keep physical records and make virtual …

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Small Business Bookkeeping: Bookkeeping Options and How to Start

Small Business Bookkeeping: Bookkeeping Options and How to Start

When starting your own business, it is important to understand that bookkeeping is a crucial part of running a business. Many businesses and entrepreneurs often prefer to keep their business finances short, noting only a few important points. Over time, due to confusion or lack of knowledge, this situation can get out of control. That …

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5 Big Things Entrepreneurs Should Expect From Rockstar Bookkeepers

5 Big Things Entrepreneurs Should Expect From Rockstar Bookkeepers

Starting your own business is a lonely journey, but you should have a bookkeeper to keep you company. It’s the one position everyone needs to fill fast. The consequences of messing up your finances could be disastrous. Like any position, you shouldn’t fill it with the first bookkeeper you find. You want a rock star …

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Seven Tips To Make Bookkeeping Extremely Easy

Seven Tips To Make Bookkeeping Extremely Easy

Improving your bookkeeping methods and practices is a crucial aspect of running a successful business. It helps track day-to-day operational expenses, track receivables and payables, ensures positive cash flow, and helps in gathering accurate financial information for forecasting and taxation. Unfortunately, many business owners and managers still struggle to keep up with good bookkeeping practices. …

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7 Hacks For Hassle-Free Small Business Accounting And Bookkeeping

7 Hacks For Hassle-Free Small Business Accounting And Bookkeeping

What do business moguls like Elon Musk, Richard Branson, Bill Gates, and Jack Ma share in common? Is it their taste for million dollars cars or expensive bottles of whiskey? Not at all. Instead, what they have in common is something that every business owner wants- the ability to turn any business opportunity into millions …

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10 Basic Accounting Principles that an Entrepreneur should Know

What are the basic accounting principles

Accounting is an essential part of every business. It is the way to keep track of your income and expenses. Hiring an accountant does not exempt business owners from the responsibility to understand basic economic operations. That’s why knowing basic accounting principles is essential for entrepreneurs. You should also read good accounting books to improve your …

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Integrate Payroll and Attendance Software to Calculate The Accurate Employee Hours

Integrate Payroll And Attendance Software To Calculate The Accurate Employee Hours Integrate Payroll And Attendance Software To Calculate The Accurate Employee Hours Accounting & Bookkeeping / August 26, 2021

Are you running a business? Do you have confronted much difficulty in payroll processing and calculating accurate employee working time than working with business activities and operations? As the business owner, are you unable to find a way to solve this hassle? Even though it is extremely hassled, it is your responsibility to handle and …

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Cash Basis and Accrual Basis Accounting: Which One is Best for Your Business?

Cash Basis and Accrual Basis Accounting: Which One is Best for Your Business?

If you are starting a new business and want to select either Cash basis accounting or Accrual basis accounting, then it might be difficult and confusing for you to select one of them. Both Cash basis accounting and Accrual basis accounting have their own benefits which will bring success to your company. You have to …

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Total Contribution Margin At The Break-Even Point

total contribution margin at the break-even point

If you want to increase the profitability of your business in the fastest way possible, then you have to analyze the total contribution margin at the break-even point of your business properly. The contribution margin is a management accounting calculation. When you analyze your contribution margin properly, you would be able to understand the contribution …

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Difference Between Income Statement and Balance Sheet

Difference Between Income Statement and Balance Sheet

Many business owners think that both income statements and balance sheets record the same data about his/her business. But both of them have different sets of variables. Both income statements and balance sheets give us a complete overview of the financial status of a company but in different ways. An expert financial manager will always …

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Outsourced Accounting Service: Pros, Cons & Overview

Outsourced Accounting Service: Pros, Cons & Overview

Nowadays outsourced accounting services are the most commonly used for bookkeeping, accounting, and controller services in order to meet the needs of small businesses. Previously such services and benefits were mainly enjoyed by the medium size and enterprise companies, but nowadays the benefits are also enjoyed by small businesses. The outsourced accounting services supervise and …

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How Can Your Accountant Help with Accounts Receivables?

How Can Your Accountant Help With Accounts Receivables?

Your business accountant has several tasks. Not only does your accountant help find ways to lower your tax burden, but they take on tasks such as collecting, reporting, and recording financials. Additionally, they may also give you business advice on how to find new opportunities to generate income. An accountant also manages your account receivables …

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