Basics 7 min read
30 Basic Accounting Terms
Basic accounting terms, acronyms, abbreviations and concepts to remember Check out these basic accounting terms and start to commit them…
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Basics 4 min read
How to analyze financial reports to make informed decisions
So you might be asking yourself, why did we just do all of that? Seems like a lot of effort…
Basics 3 min read
Why monitoring Cash Flow is important for business
The cash flow report is the third component of a company’s financial statements. The report portrays how a company has…
General Concepts 3 min read
Solvent Screening and Selection
Solvent Criteria One of the most important steps in developing a successful (economical) extractive distillation sequence is selecting a good…
Basics 4 min read
How to create Balance Sheet
The Balance Sheet attempts to show how much the business is worth. It does this by illustrating the value of the business’s…
Basics 5 min read
How to produce a Profit and Loss Statement
A Profit and Loss Statement illustrates how much profit you made in any given period, usually it is 1 year.…
Basics 3 min read
How to prepare trial balance
The Trial Balance is, as the name suggests, a table where we lay out all our debit accounts and all…
Basics 6 min read
How to calculate Depreciation (Balance Day Adjustment)
Earlier we discussed the term capital expenditure. Let’s explore this a little further. Capital expenditure is when you purchase an asset. It…
Basics 6 min read
What is Ledger & How to create One
We’ve just processed all our transactions into journals. The next step in the accounting process is entering these journal entries into ledgers.…
Basics 7 min read
How to do a Journal Entry
OK soldiers. Time to do some real accounting! Everything we do from this point on will be stuff that real…