Basics
Single Entry vs Double Entry Bookkeeping:
There are two basic ways to record your financial transactions: Single entry bookkeeping can used by small businesses where…
August 16, 2021 · Boomi NathanBasics
Basics
Accounting Principles
A number of basic accounting principles have been developed that are the basic building blocks that form the…
August 16, 2021 · Boomi NathanBasics
Improving Profits
A company’s accounting records and financial statements are based on accounting principles, concepts, detailed rules, etc. For example,…
August 16, 2021 · Boomi NathanBasics
Debits and Credits Explained in Detail
If the words “debits” and “credits” sound like a foreign language to you, you are more perceptive than…
August 16, 2021 · Boomi NathanBasics
Half-Life
In the investing world, a half-life is the halfway point of mortgage repayment. How It Works (Example): Let’s say John…
August 16, 2021 · Boomi NathanBasics
Credit Rating
In personal finance, the term credit rating commonly refers to a score issued by the Fair Isaac Corporation (a “FICO…
August 16, 2021 · Boomi NathanBasics
Credit Quality
Credit quality is a measure of an individual’s or company’s creditworthiness, which is ability to repay debt. How…
August 16, 2021 · Boomi NathanBasics
Bullet Loan
A bullet loan is a loan that does not amortize over time and must be repaid with a…
August 16, 2021 · Boomi NathanBasics
Average Balance
Average balance is either the simple or the weighted average balance of a financial account during some period…
August 16, 2021 · Boomi NathanBasics
Golden Rule
The golden rule is very simple: treat people the way you want to be treated. In the business…
August 16, 2021 · Boomi Nathan