Accounting Tools

MARCH 8, 2024

What are Condensed Financial Statements? Condensed financial statements are a highly aggregated version of the financial statements , where most of the line items are summarized into just a few lines. This is because there are few line items that can be included in a ratio analysis.

Financial Statements 40

Financial Statements Financial Analysis 40

Accounting Tools

JULY 11, 2023

Related Courses Credit and Collection Guidebook Effective Collections What is Financial Information? Financial information is data about the monetary transactions of a person or business. Anyone using financial information has a duty to keep the information secure, since it could be used by third parties to engage in identity theft.

Financial Statements 74

Financial Statements Collections 74

Accounting Tools

JANUARY 18, 2024

The information in the ledger is the highest level of information aggregation, from which trial balances and financial statements are produced. Thus, information can be rolled up from journals to ledgers to produce financial statements, and rolled back down to investigate individual transactions.

General Ledger 75

General Ledger Financial Statements Bookkeeping Accounting 75

Accounting Tools

NOVEMBER 7, 2023

Related Courses Business Ratios Guidebook Financial Analysis The Interpretation of Financial Statements Comparing Turnover and Profit Turnover is the net sales generated by a business, while profit is the residual earnings of a business after all expenses have been charged against net sales.

Financial Analysis 75

Financial Analysis Financial Statements 75

Counto

FEBRUARY 18, 2024

Maintains accurate financial records, laying the foundation for further analysis. Offers straightforward assessments of financial standing, without complex analysis. Reviews financial statements and reports. Capable of providing guidance to business owners during financial decision-making.

Bookkeeping 52

Bookkeeping Financial Analysis Financial Records Accounting 52

Counto

FEBRUARY 22, 2024

Whether you’re handling your own bookkeeping or working with an accountant, knowing these terms will help you make informed decisions about your business’s financial health. It’s a valuable tool for planning and decision-making, especially during tight financial periods.

Accruals 52

Accruals Financial Statements Accounting Accounting 52

Accounting Tools

OCTOBER 24, 2023

Related Courses Business Ratios Guidebook Effective Sales Management Financial Analysis The Interpretation of Financial Statements What is Sales Volume? Related Articles Sales Revenue Sales Trend Analysis Sales volume is the number of units sold within a reporting period.

Financial Analysis 75

Financial Analysis Financial Statements Billing 75

Accounting Tools

OCTOBER 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 the statement is listed as a percentage of another item.

Financial Analysis 40

Financial Analysis Financial Statements 40

Accounting Tools

FEBRUARY 25, 2024

Construction Audit A construction audit is an analysis of the costs incurred for a specific construction project. Activities may include an analysis of the contracts granted to contractors, prices paid, overhead costs allowed for reimbursement, change orders, and the timeliness of completion.

Auditing 75

Auditing Payroll Financial Statements Tax 75

Accounting Tools

OCTOBER 11, 2023

The following discussion of accounting basics is needed to give you a firm grounding from which to understand how an accounting system works and how it is used to generate financial reports. This means setting up accounts in which financial information is stored. These statements are noted below.

Accounting 75

Accounting Accounting Record Keeping Purchase Order 75

Accounting Tools

MARCH 2, 2024

Related AccountingTools Courses Business Ratios Guidebook Financial Analysis The Interpretation of Financial Statements Related Articles Capital Structure Analysis DuPont Analysis Incremental Analysis Quantitative Analysis Types of Financial Analysis

Financial Analysis 40

Financial Analysis Financial Statements Accounts Receivable Accounts Receivable 40

Accounting Tools

DECEMBER 22, 2023

Presentation of Non-Operating Expenses Non-operating expenses are usually stated on the income statement after the results from continuing operations. Readers of the financials typically conduct analyses of an organization’s core business, which excludes non-operating expenses.

Financial Analysis 40

Financial Analysis Financial Statements 40

Accounting Tools

DECEMBER 28, 2023

Trend line analysis is useful for budgeting and forecasting, and is commonly used in technical analysis. Related AccountingTools Courses Excel Charts and Visualizations Financial Analysis Guide to Analytical Procedures The Interpretation of Financial Statements Related Articles Extrapolation Sales Trend Analysis Trend Analysis

Financial Analysis 40

Financial Analysis Financial Statements Budgeting 40

Accounting Tools

APRIL 24, 2024

What is Contribution Margin Analysis? Contribution margin analysis investigates the residual margin after variable expenses are subtracted from revenues. The analysis can also be used to examine the offerings of acquisition targets as part of the due diligence process, to see if an entity spins off enough cash to be worth buying.

Financial Analysis 40

Financial Analysis Financial Statements 40

Counto

JANUARY 11, 2024

The Importance of an Income Statement & How to Read it When it comes to evaluating a business’s financial health, investors, lenders, and business owners rely on three core financial statements: income statements (also known as profit and loss statements), balance sheets, and cash flow statements.

Financial Statements 40

Financial Statements Record Keeping Tax Accounting 40

Accounting Tools

NOVEMBER 1, 2023

Related Courses Financial Analysis The Interpretation of Financial Statements Cost volume profit analysis shows how changes in product margins, prices, and unit volumes impact the profitability of a business. Related Articles Profit-Volume Chart The Cost Volume Formula

Financial Analysis 75

Financial Analysis Financial Statements 75

Accounting Tools

JULY 24, 2023

Related Courses The Balance Sheet The Income Statement The Statement of Cash Flows The key components of the financial statements are the income statement , balance sheet , and statement of cash flows. The key points favoring each of these financial statements as being the most important are noted below.

Financial Statements 75

Financial Statements Accruals Auditing Accounting 75

Accounting Tools

DECEMBER 23, 2023

Audit objectives are associated with the audit of financial statements. Audit objectives are intended to obtain reasonable assurance that the financial statements are free of material misstatements , and to issue a report on those financial statements based on the findings resulting from the audit.

Auditing 40

Auditing Financial Statements Financial Reporting 40

Accounting Tools

APRIL 6, 2024

Financial Statements Production A reporting group within the department creates adjusting journal entries to bring the company's initial financial results into compliance with the applicable accounting framework , writes footnotes to accompany the financial statements , and releases financials following the end of each reporting period.

Accounting 75

Accounting Accounting Financial Statements Budgeting 75

Accounting Tools

NOVEMBER 1, 2023

Related Courses Accountants' Guidebook Bookkeeping Guidebook New Controller Guidebook An accountant is a person who records business transactions on behalf of an organization, reports on company performance to management, and issues financial statements. Management reports are issued to the management team.

General Ledger 75

General Ledger Accounting Accounting Financial Statements 75

Accounting Tools

MARCH 3, 2024

The balance sheet is commonly used for a great deal of financial analysis of a business' performance. What is the Income Statement? The income statement presents the financial results of a business for a stated period of time.

Financial Statements 40

Financial Statements Financial Analysis Bookkeeping Accounting 40

Counto

FEBRUARY 22, 2024

Deciding on a Financial Year End (FYE) for Singapore Businesses Choosing the right Financial Year End (FYE) is a pivotal step for businesses in Singapore, influencing tax planning, compliance, and financial strategy. What Is a Financial Year End in Singapore?

Financial Analysis 52

Financial Analysis Financial Statements AR Tax 52

Counto

JANUARY 10, 2024

XBRL Filing for Companies in Singapore In Singapore, companies are required to file their financial statements in XBRL (eXtensible Business Reporting Language) format with the Accounting and Corporate Regulatory Authority (ACRA). Who Needs to File Financial Statements in XBRL Format?

Financial Statements 52

Financial Statements Microsoft Excel Financial Reporting Data Entry 52

Accounting Tools

DECEMBER 23, 2023

An error correction is the correction of an error in previously issued financial statements. Reporting an Error Correction The accountant should restate prior period financial statements when there is an error correction. It is not an accounting change. It is not an accounting change.

Financial Statements 40

Financial Statements Account Reconciliation Accounting Accounting 40

Accounting Tools

AUGUST 4, 2023

Financial Accounting The financial accounting group records accounting transactions and converts the resulting information into financial statements. Its primary responsibility is to generate financial statements and the related disclosures that fairly reflect the financial results and condition of the organization.

Accounting 75

Accounting Accounting Financial Statements Auditing 75

Nanonets

APRIL 24, 2024

Audit Bank Reconciliation Guide  Both internal and external accounting audits are essential parts of financial management as well as organizational risk management. A bank reconciliation audit is one such process that helps in identifying financial gaps or discrepancies. the General Ledger ) with the data in its bank statement.

Bank Reconciliation 52

Bank Reconciliation Auditing Reconciling General Ledger 52

Accounting Tools

NOVEMBER 7, 2023

Related Courses Credit and Collection Guidebook Effective Collections The Interpretation of Financial Statements What is the Altman Z Score? The formula is based on information found in the income statement and balance sheet of an organization; as such, it can be readily derived from commonly-available information.

Collections 75

Collections Financial Statements Tax 75

Accounting Tools

OCTOBER 7, 2023

Related Courses Business Ratios Guidebook Financial Analysis The Interpretation of Financial Statements What is Ratio Analysis? Financial ratios compare the results in different line items of the financial statements. Rapid asset turnover implies a high level of operational excellence.

Financial Statements 40

Financial Statements General Ledger Financial Analysis Customer Service 40

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

NOVEMBER 20, 2023

What is Variance Analysis? Variance analysis is the quantitative investigation of the difference between actual and planned behavior. This analysis is used to maintain control over a business through the investigation of areas in which performance was unexpectedly poor. They are as follows: Time delay.

Budgeting 75

Budgeting Financial Analysis Billing Cost Accounting 75

Nanonets

APRIL 15, 2024

What is a Bank Reconciliation Statement Bank reconciliation is the process that ensures that a company's recorded cash balances align with the funds in their bank accounts. In effect, the reconciliation statement is a document that presents the comparison between the internal financial records of a company (e.g.

Bank Reconciliation 52

Bank Reconciliation Deposits Reconciling Financial Records 52

Accounting Tools

DECEMBER 28, 2023

The formula is: Long-term debt ÷ (Common stock + Preferred stock) = Long-term debt to equity ratio Disadvantages of the Long-Term Debt to Equity Ratio The standard debt-to-equity ratio can be a more reliable indicator of the financial viability of a business, since it includes all short-term debt as well.

Financial Statements 75

Financial Statements 75

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

MARCH 28, 2024

Related AccountingTools Courses Corporate Finance Financial Analysis The Interpretation of Financial Statements Related Articles Leverage Ratios Leveraged Lease This issue can be mitigated by restricting the amount of debt that a business takes on, as well as by maintaining a reasonable cash reserve.

Corporate Finance 40

Corporate Finance Financial Analysis Financial Statements Tax 40

Accounting Tools

DECEMBER 12, 2023

XBRL uses tags to specifically identify various types of information within a financial report, which are then used by software to convert the data into an electronic spreadsheet for further analysis. Thus, XBRL is a step in the process of converting plain-text financial information into a spreadsheet format for further analysis.

Financial Reporting 40

Financial Reporting Accounting Accounting 40

Accounting Tools

JUNE 12, 2023

Related Courses How to Conduct a Compilation Engagement How to Conduct a Review Engagement How to Conduct an Audit Engagement What is a Financial Statement Audit? A financial statement audit is the examination of an entity's financial statements and accompanying disclosures by an independent auditor.

Financial Statements 76

Financial Statements Auditing General Ledger Bank Reconciliation 76

Accounting Tools

JUNE 10, 2023

Related Courses Essentials of Business Math Financial Analysis What is Quantification? In business, accounting systems have been designed to measure specific attributes of business transactions , which are then aggregated into financial statements. Quantification is the expression of an event in numeric terms.

Financial Statements 40

Financial Statements Financial Analysis Accounting Accounting 40