12 Best Houston Bookkeeping Services

She provides administrative, technology, and client related support for the entire Proledge team. Our professionals will use their knowledge and expertise to help your business reduce its costs to a minimum through personalized saving strategies. Please check our tax planning and free resources section for more information. In addition to gaining complete access to your […]

What is the change in inventories? Calculate the change in inventories

Meanwhile, if inventory turnover ratio increases as a result of discounts or closeouts, profitability and return on investment (ROI) might suffer. The speed with which a company can turn over inventory is a critical measure of business performance. Retailers that turn inventory into sales faster tend to outperform comparable competitors. The longer an inventory item […]

What Is an Unsecured Credit Card?

But, unsecured creditors (and their collection agencies) can’t take any property away from you. Unsecured creditors may include providers of unsecured loans, suppliers, contractors, and landlords, but they all rank equally and are paid a percentage of available funds, if any exist. Unfortunately, it is common for unsecured creditors to receive little or no recompense […]

When does a negative cash balance appear on the balance sheet?

A payment that is more than the balance in your account results in this error. A negative impact on your account will result if your bank allows the payment to go through even if you don’t have enough funds to cover it. Keep in mind that this number is not always positive, but that isn’t […]

Accounting and Financial Reporting Standards

Use of GAAP provides investors and creditors with the assurance of a reliable standard of accounting. It simplifies the examining of financials of individual companies as well as comparisons with others. Auditors use GAAS when reviewing the financial records of companies (that most likely use GAAP) and producing audit reports. Although most of the world […]

Accounting 101: Debits and Credits

In general, debit accounts include assets and cash, while credit accounts include equity, liabilities, and revenue. In order to record revenue from the sale of goods or services, one would need to credit the revenue account. This means that credit to revenue would increase the https://kelleysbookkeeping.com/ account, whereas a debit would decrease the account. An […]

What is financial reporting and why is it important for your business? MHR

Investing in reporting software can enable your business to easily meet reporting needs while leveraging artificial intelligence and machine learning to streamline workflow. Financial reports adhere to a group of taxation, accounting and legal requirements, called the International http://www.music4life.ru/topic/8976-edu-pres-time-traveler-only-beats-that-matter/ Standards (IFRS). This is so a business’s finances can be understood all over the world – […]

15 Financial Report Examples to Communicate Financial Data

The cash flow statement (CFS) measures how well a company generates cash to pay its debt obligations, fund its operating expenses, and fund investments. The cash flow statement complements the balance sheet and income statement. A financial statement, such as an income statement or a cash flow statement, zooms in on a specific financial aspect. In contrast, a financial report is an […]