Category: <span>Bookkeeping</span>

Total assets are the total of current assets, such as marketable securities and prepayments, and long-term assets, such as machinery and fixtures. Total liabilities are obtained by adding current liabilities and long-term liabilities. Shareholders’ equity can also be calculated by taking the company’s total assets less the total liabilities. The account demonstrates what the company...

Total assets are the total of current assets, such as marketable securities and prepayments, and long-term assets, such as machinery and fixtures. Total liabilities are obtained by adding current liabilities and long-term liabilities. Shareholders’ equity can also be calculated by taking the company’s total assets less the total liabilities. The account demonstrates what the company...

When you partner with MWE, your advisor will adhere to this concept of being in the trenches with clients, and they consider themselves an extension of clients’ existing management team. As part of the AWIN program, organizers also bring in high-level speakers to provide seminars and learning opportunities for female employees. Everything that these top...

Understanding this concept is essential when learning about the difference between cash, accrual, and modified accrual accounting systems. The main difference between the three is the time frame in which the businesses’ various transactions are allocated. A full accrual budget will recognize and estimate values for which no cash may actually be received or paid...

However, more knowledge is always an asset, and a bookkeeping certificate can make your resume look more attractive, potentially helping you to gain clients. In that case, whether you’re a freelance bookkeeper with several clients or simply looking to handle the bookkeeping for your own business, FreshBooks can help. Our cloud-based bookkeeping software solution is...

First, take into account their expertise and familiarity with the construction industry, as this can make a significant difference in the quality of service they provide. Next, assess their reputation by looking into client testimonials, reviews, or case studies, which can give you insight into their credibility and reliability. This comprehensive guide is designed to...

The trial balance includes columns with total debit and total credit transactions at the bottom of the report. For every transaction, both sides of this equation must have an equal net effect. Below are some examples of transactions and how they affect the accounting equation. Our Accounting Equation Cheat Sheet provides eight transactions to illustrate...

The margin of safety cushions the investor from an inaccurate market downturn. Before an investor buys a stock at an undervalued price, it is important to determine the intrinsic value of a stock. Such an analysis can be done by calculating estimates based on the company’s historical growth trends and future projections that may affect...

It is essential for you to review your supplier contracts on a regular basis as it will help you to prevent fraudulent billing practices, whether due to overpayment or duplicate payments. Figure 2 below shows one example of such a purchase worth one thousand dollars. It gets a supply of screws worth one thousand dollars...

Once you identify areas where efficiency can be improved, using a FreeAgent as a digital tool becomes a lot easier to justify. In 2019, MTD for VAT became mandatory for VAT-registered businesses with a turnover above £85,000, which then extended to all VAT-registered businesses, regardless of turnover, from 2022. After the quarterly updates, you’ll need...