Basics
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…
August 16, 2021 · Boomi NathanBasics
Basics
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…
August 16, 2021 · Boomi NathanBasics
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…
August 16, 2021 · Boomi NathanBasics
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…
August 16, 2021 · Boomi NathanBasics
How to prepare trial balance
The Trial Balance is, as the name suggests, a table where we lay out all our debit accounts…
August 16, 2021 · Boomi NathanBasics
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…
August 16, 2021 · Boomi NathanBasics
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…
August 16, 2021 · Boomi NathanBasics
How to do a Journal Entry
OK soldiers. Time to do some real accounting! Everything we do from this point on will be stuff…
August 16, 2021 · Boomi NathanBasics
Basic Accounting Transactions
In this lesson, we are going to learn how basic transactions move through the accounting equation. What we…
August 16, 2021 · Boomi NathanBasics
Introducing The Complete Accounting Equation
Remember in Lesson 2 we learned the basic form of the accounting equation as: Assets = Liabilities +…
August 16, 2021 · Boomi Nathan