SMB Accounting and Consulting

JUNE 21, 2023

When it comes to financial statements, two key documents play a vital role in providing insights into a company's financial health: the income statement and the balance sheet. While both are important in understanding a company's financial position, they serve different purposes and provide distinct information.

Financial Statements 52

Financial Statements Financial Analysis Accounts Payable Accounts Payable 52

Nanonets

SEPTEMBER 21, 2023

By implementing the right strategies and utilizing modern technologies, businesses can overcome these accounting hurdles and ensure a smoother  financial flow. Let's explore some common accounting problems and their solutions. One of the major problems faced by businesses is material errors in financial statements.

Outsourced Bookkeeping 52

Outsourced Bookkeeping Accounting Accounting Financial Reporting 52

Accounting Tools

OCTOBER 8, 2023

Related Courses Business Ratios Guidebook Financial Analysis The Interpretation of Financial Statements What is Horizontal Analysis? Horizontal analysis is the comparison of historical financial information over a series of reporting periods.

Financial Statements 40

Financial Statements Financial Analysis Accounts Payable Accounts Payable 40

Accounting Tools

JULY 19, 2023

In both cases, the intent is to provide the reader with a series of snapshots of a company's financial position over time, which is useful for developing trend line analyses (though this works better when the reader has the entire set of financial statements to work with and not just the balance sheet).

Financial Statements 40

Financial Statements Financial Analysis Accounts Payable Accounts Payable 40

Accounting Tools

MARCH 26, 2023

Related Courses Business Ratios Guidebook Financial Analysis The Interpretation of Financial Statements What is Current Ratio Analysis? Current ratio analysis is used to determine the liquidity of a business. The same concern can be raised with older accounts receivable.

Financial Analysis 40

Financial Analysis Financial Statements Accounts Receivable Accounts Receivable 40

Nanonets

SEPTEMBER 21, 2023

The  receivables turnover ratio  is a crucial financial metric that measures a company's ability to collect its accounts receivable in a timely manner. Key Takeaways The  receivables turnover ratio  measures a company's ability to collect its accounts receivable in a timely manner.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables Collections 52

Accounting Tools

SEPTEMBER 11, 2023

Related Courses Business Ratios Guidebook Financial Analysis Education Bundle The Interpretation of Financial Statements What is Financial Statement Analysis? Financial statement analysis involves gaining an understanding of an organization's financial situation by reviewing its financial reports.

Financial Statements 40

Financial Statements Financial Analysis Accounts Receivable Accounts Receivable 40

Accounting Tools

APRIL 17, 2023

Related Courses The Balance Sheet The Interpretation of Financial Statements What is a Balance Sheet? A balance sheet lays out the ending balances in a company's asset , liability , and equity accounts as of the date stated on the report. A statement of retained earnings may sometimes be attached.

Accounts Receivable 40

Accounts Receivable Accounts Receivable Account Receivables Financial Statements 40

Less Accounting

SEPTEMBER 25, 2023

Accounting goes beyond bookkeeping and involves interpreting, analyzing, and summarizing the financial data provided by the bookkeeping system. It includes more in-depth financial analysis and reporting, creating budgets, and making strategic decisions based on data. Assets Valuable resources owned by your business.

Small Business Accounting 52

Small Business Accounting Accruals Bookkeeping Accounting 52

Accounting Tools

DECEMBER 10, 2023

Financial assets include cash and marketable securities , while financial liabilities usually refer to debt and leases. Conversely, operating assets include accounts receivable , inventory , and fixed assets ; operating liabilities include accounts payable and accrued liabilities.

Financial Statements 40

Financial Statements Accounts Payable Accounts Payable Accounts Receivable 40

Future Firm

JULY 11, 2023

A staff accountant primarily serves as a key financial advisor and strategist, overseeing crucial aspects of financial management and various accounting procedures. Assisting with Budgeting and Forecasting : Collaborate with a staff accountant to help with budgeting and forecasting processes.

Accounting 40

Accounting Accounting Financial Analysis Microsoft Excel 40

Accounting Tools

APRIL 27, 2023

Related Courses The Interpretation of Financial Statements Working Capital Management What is Free Cash Flow? If a company is growing rapidly, then it requires a significant investment in accounts receivable and inventory , which increases its working capital investment and therefore decreases the amount of free cash flow.

Accounts Receivable 40

Accounts Receivable Accounts Receivable Account Receivables Financial Statements 40

Accounting Tools

AUGUST 1, 2023

Related Courses Business Ratios Guidebook The Interpretation of Financial Statements The Statement of Cash Flows How to Derive Cash Flow Cash flow is the net amount of cash flowing into or out of a business within a certain period of time.

Financial Statements 40

Financial Statements Computation Accounts Payable Accounts Payable 40

Nanonets

FEBRUARY 28, 2024

This meticulous document serves as the foundation for a company's financial statements, categorizing and recording each transaction. Through this rigorous organization, it provides an essential snapshot, offering a comprehensive view of the company's financial health and facilitating detailed financial analysis and reporting.

General Ledger 52

General Ledger Data Entry Invoicing Accounts Payable 52

Nanonets

NOVEMBER 19, 2023

Accurate financial records: Consistent invoice settlement allows for accurate documentation of all transactions. This aids in better financial analysis and reporting, ensuring all payments, credits, and debits are recorded correctly. This means you know the invoice will not be paid and remove it from your accounts receivable.

Invoicing 52

Invoicing Financial Records Accounts Receivable Accounts Receivable 52

Future Firm

SEPTEMBER 1, 2023

While the list of accounting software is in no particular order, it has been grouped according to categories based on their accounting features so you can find the best accounting software apps that fit your interest. Their web-based product is packed full of accounting features. Ready to dive in?

Accounting Software 98

Accounting Software XERO QuickBooks Accounting 98

Nanonets

FEBRUARY 14, 2024

This ensures that payments for electricity, water, and internet services are accurately recorded under utility expenses, enabling the company to produce financial statements that truly reflect its operational costs. For example, all asset accounts might start with the number 1 (e.g.,

General Ledger 52

General Ledger Accounts Payable Accounts Payable Accounting Software 52

Accounting Tools

SEPTEMBER 29, 2023

Related Courses Business Ratios Guidebook Guide to Analytical Procedures The Interpretation of Financial Statements What is Ratio Analysis? Ratio analysis is the comparison of line items in the financial statements of a business.

Financial Statements 75

Financial Statements Financial Analysis Accounts Payable Accounts Payable 75

Accounting Tools

MAY 11, 2023

Related Courses Financial Analysis The Interpretation of Financial Statements What is Vertical Analysis? Vertical analysis is the proportional analysis of a financial statement , where each line item on a financial statement is listed as a percentage of another item.

Financial Statements 40

Financial Statements Financial Analysis Accounts Payable Accounts Payable 40

Nanonets

FEBRUARY 6, 2024

Intercompany accounting is significantly more complicated than standard accounting since it requires balancing multiple ledgers, tracking internal/external transactions, forex conversion, performing intercompany eliminations and settlements, and preparing a consolidated financial statement.

General Ledger 52

General Ledger Financial Statements Reconciling Collections 52