One of the main focuses for any business is profit. But in order to find out the amount of profit being made, it’s essential to properly keep track of expenses. …
Audit Readiness: Unveiling the Role of Technical Accounting
Everyone has heard the word “audit” but few people understand everything that it means and how important it can be to your company when it’s time for your records to …
How a Lawyer Will Help You Prove Accounting Malpractice
According to a report, compared to 2020, the number of accounting malpractice claims also increased by about 50% in 2021. Accountants are responsible for doing more than simply preparing taxes. …
Is a Career as a CPA Right for You? 5 Key Questions to Ask
Over in the US, qualifying as a Certified Public Accountant (CPA) gives you the ability to offer professional finance services to individuals and businesses alike. If you’re thinking of following …
The Advantages of Online Accounting Courses
In this day and age, online courses have become increasingly popular. Not only do they provide students with the convenience of learning from home, but they also open up a …
8 Reasons to Become a Chartered Certified Accountant
Are you considering a career in accounting? CCA is a widely respected and sought-after professional designation. Becoming a CCA requires dedication and commitment, but the rewards are more than worth …
How To Read A Cash Flow Statement Like A Pro
Do you want to be able to read a cash flow statement like a pro? Cash flow statements are an important tool for understanding the financial health of businesses and …
How Ecommerce Tax Accountants Can Help Your Online Business
Experienced in local and international rules regarding the taxation of virtual businesses, an ecommerce tax accountant can help ensure that your business is compliant by levying the correct taxes across …
Finding a New Accountancy Practice
If you are looking for an accountancy practice for your small business. Or, you are looking for a practice to help you create an action plan for your future. What …
How to Keep Your Business Finances in Order
Many business owners struggle to keep finances in order. However, the downside of not keeping up with the money side of things means you could miss out on the chance …
Financial Process Automation: An In-Depth Guide
Robotic process automation (RPA), AI, and other allied technologies are changing our understanding of automation. It’s not only about eliminating the need for manual processing but also about generating “intelligent” …
6 Effective Practices To Optimize Your Accounting Processes
Effectively optimizing your accounting process can result in improved revenue flow and loss prevention. It can also help your accounting team save a lot more time and focus on other …
Choosing The Right Accountant for Your Growing Business
Growing a dream business can be thrilling in the long run and challenging. It’s impossible to be an expert in every facet of running a business, which is why a …
How to Become an Accountant in the US: 5 Things You Need to Know
Becoming an accountant in the United States can be demanding and rewarding. Being an accountant requires critical thinking, analytical skills, and good communication skills. Furthermore, it is an occupation that …
The Key Accounting Documents & Records to Retain as a Start-Up
As a startup, businesses are probably juggling many different things at once – from developing a product or service to hiring their first employees. But one thing a business should …
Why Using Professional Accountants is a Must
If you’re a small business owner and want to know what a professional accountant can do for your business – you have come to the right place! An accountant does …
6 Benefits Of Hiring A Local Accountant For Your Business
Good business depends entirely on good accounting. Your business is expected to make profits at the same time running sustainably. This can be achieved by having important accounting tools like …
How To Calculate The Cost Price And Why It’s Important For Your Business
One of the most important indicators of doing business is cost price. This indicator must be regularly calculated and analyzed. By calculating the cost price, you will get an idea …
How to Determine if You Need an Accountant’s Expertise for Your Business
In this business article, we cover the topic of when to take the plunge and invest in a financial or management accountant. The best business books recommend that you outsource …
Setting the Right Price and Valuation for a Service
Do you have a business providing services? Are you wondering how you can pick out the right price for these services to make your business a cut above the rest? …
How to Start a Career in Accountancy
Becoming an accountant is a sound proposition in a world where finance rules, keeping track of money is a central demand of most businesses. It is a career option that …
Here’s How You Can Eliminate Revenue Leakage Today
In an ideal world, it would be easy for a business to stay on top of its profitability situation and not bleed cash because of delays or inefficiencies. But in reality, …
Key Elements of Financial Analysis
You’ll need to fully understand how a company works to get the most out of your investment. One good way to know how a business is doing is to carry out a …
Finding a High Performing Financial Accounting Staffing Agency
The accounts or the financial team in your organization is responsible for making crucial decisions. The success or failure of your business often revolves around these decisions. This is why …
Accounting Definitions
This page holds our Financial Expert™ Definitions of accounting jargon and terms. Cut through accounting jargon with our explainers. Each definition page is much more than an accounting definition. Beyond …
Year to Date (YTD) – Definition
Definition of year to date (accounting): The cumulative financial result from the start of the latest accounting year until the present day. What is Year to Date (YTD)? Year to …
Variable Cost – Definition
Definition of variable cost: an expense which increases or decreases proportionately to revenue. What is a variable cost? A variable cost is also known as a direct cost, because of …
Turnover – Definition
Definition of turnover (accounting): Income. Turnover is used interchangeably with revenue and gross income in the context of financial reporting. What is turnover? Turnover is an accounting term used most …
Quality of Earnings – Definition
Definition of quality of earnings: The extent to which the profits reported by a company are likely to recur as they are driven by the core operating activities of the …
Profit – Definition
Definition of profit (investing): a financial gain, measured as the difference between the income and the costs of a particular investment or activity. What is profit? Profit is measured as: …
Overheads – Definition
Definition of overheads: A business cost which is not directly linked to production or the provision of a service. What are overheads? Overhead is a name given to the collection …
Overdraft – Definition
Definition of overdraft: A short term borrowing facilility, with a pre-agreed borrowing limit, which is repayable on demand What is an overdraft? An overdraft is a short term, unsecured bank …
Onerous Contract – Definition
Definition of onerous contract: An agreement which commits a business to obligations which will generate losses. What is a onerous contract? No business wishes to be party to an onerous …
Liability – Definition
Definition of liability (accounting): A present obligation arising from past events. What is a liability? A liability is something a business will need to settle or pay in the future. …
Journal Entry – Definition
Definition of journal (accounting): An accounting record of a single transaction, in the ‘double entry’ accounting format. What is a journal? In simple English, a journal entry is an instruction …
Joint Venture – Definition
Definition of joint venture (business): A formal partnership between two independent organisations, which sees the partners share resources to achieve a common objective. Definition of joint venture (accounting): An arrangement …
International Financial Reporting Standards (IFRS) – Definition
Definition of International Financial Reporting Standards (IFRS): A widely used set of accounting and financial reporting rules which are applied by most public companies in the creation of their financial …
Income Statement – Definition
Definition of the income statement: A financial report which presents a company’s income and expenses for a financial period, in a prescribed format. What is the income statement? The income …
Income – Definition
Definition of income (accounting): Income is also known as revenue or turnover, and represents the amount of money a business earns by providing products and services to customers. Definition of …
Holding Company – Definition
Definition of holding company: A legal entity with a primary purpose of owning an equity stake in other companies. What is a holding company? A holding company in the UK …
Gross Profit – Definition
Definition of gross profit: gross profit is a measure of profit calculated by deducting direct costs (also known as cost of goods sold) from revenue. What is gross profit? Gross …
Gross Margin – Definition
Definition of gross margin: A ratio expressing gross profit as a percentage of revenue. Gross margin is also known as gross profit margin. How to calculate gross margin Here’s an …
Goodwill – Definition
Definition of goodwill (accounting): Goodwill represents the excess price for an asset over and above the identifiable fair value of an asset. What is goodwill? Goodwill is quite a complex …
Generally Accepted Accounting Principles (GAAP) – Definition
Definition of generally accepted accounting principles (GAAP): A comprehensive set of accounting and reporting standards which govern how companies financial statements record, measure, and disclose their financial transactions. What are …
General Ledger – Definition
Definition of general ledger: The primary set of accounts used to store and summarise the transactions of a company. What is the general ledger? It’s easiest to see the general …
Financial Statements – Definition
Definition of financial statements: A periodic report which discloses the financial performance and financial position of a company, along with other necessary disclosures. What are financial statements? Financial statements are …
Equity – Definition
Definition of equity (finance): the element of a organisations total value which is attributable to its shareholders Definition of equity (accounting): the book value of assets minus liabilities. The net …
Deferred Consideration – Definition
Definition of deferred consideration: An element of a purchase price which is only settled in cash at much later date than the transaction. What does deferred consideration mean In the …
Debenture – Definition
Definition of debenture: A long term business loan which is ‘secured’ against the assets of the company. This is a UK definition. What does debenture mean In the UK, a …
Cost of Goods Sold (COGS) – Definition
Definition of cost of goods sold (COGs): Costs of a business which can be directly attributed to revenue generated during the same financial period. What does cost of goods sold …
- Page 1 of 2
- 1
- 2