Basics 5 min read
What Options Do You Have for Accounting Services?
Okay, so you’re sold on the importance of accounting. Hooray! Next up, as a business owner you should be aware…
THE LATEST THINKING
Every story.
Browse our articles in publication order, with new stories added automatically.
Basics 4 min read
Basic Accounting for Small Business
Accounting can be a daunting subject for a business owner, and if I’m being honest, more than a little boring.…
Basics 7 min read
Financial Accounting | Basic Concepts and Principles
Definition and introduction Profit, it has been said often, is the sole objective of business. Therefore, for those running a…
Basics 4 min read
Understanding Debits and Credits
As a small business owner, you may be struggling with the concept of what is debit (DR) and credit (CR).…
Basics 14 min read
10 Accounting Basics You Need to Know to Run a Successful E-commerce Business
1. Get yourself accounting software Don’t try to piece it all together using excel or a calculator. Do yourself a…
Basics 3 min read
Revenue Recognition Principle
So when do you recognize revenue in your reports, statements and forecasts? Let’s start with defining the revenue recognition principle,…
Basics 2 min read
Basic Accounting Data Collection And Recording Terms
Account: This is where you keep a detailed record of each asset, liability, revenue, or expense. An account will show the…
Basics 3 min read
What Is The Accounting Cycle?
The accounting cycle is a series of activities that compiles an organization’s transactions at the end of a reporting period…
General Concepts 2 min read
How to read P&ID?
As a graduate chemical engineer, you are expected to know how to read a P&ID. Learn to read before you…
Basics 5 min read
What is meant by reconciling an account?
Reconciling an account often means proving or documenting that an account balance is correct. For example, we reconcile the balance in the general…
Basics 5 min read
What is included in cash and cash equivalents?
The term cash and cash equivalents includes: currency, coins, checks received but not yet deposited, checking accounts, petty cash, savings accounts, money market accounts,…
Basics 5 min read
What is principles of accounting?
Three meanings come to mind when you ask about principles of accounting… 1. Principles of Accounting was often the title of the…
