Accounting Tools

OCTOBER 1, 2023

Related Courses The Balance Sheet The Income Statement The Statement of Cash Flows What is a Consolidated Group? A consolidated group is comprised of a parent company and all of its subsidiaries. Consolidated financial statements are issued for a consolidated group.

Financial Statements 40

Financial Statements Tax Accounting Accounting 40

Accounting Tools

JULY 17, 2023

Related Courses Business Combinations and Consolidations What are Group Financial Statements? Group financial statements are financial statements that include the financial information for more than one component.

Financial Statements 40

Financial Statements Accounting Accounting 40

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

JULY 24, 2023

Related Courses Business Combinations and Consolidations CPA Firm Mergers and Acquisitions Mergers and Acquisitions How to Account for a Consolidation Consolidation accounting is the process of combining the financial results of several subsidiary companies into the combined financial results of the parent company.

Financial Statements 75

Financial Statements Accounting Accounting Payroll 75

Accounting Tools

OCTOBER 24, 2023

Intercompany eliminations are used to remove from the financial statements of a group of companies any transactions involving dealings between the companies in the group. Related Articles Intercompany Accounting There are three types of intercompany eliminations, which are noted below.

Financial Statements 76

Financial Statements Accounting Accounting 76

Accounting Tools

JULY 17, 2023

It is used by organizations to properly organize their financial information into accounting records , summarize the accounting records into financial statements , and disclose certain supporting information. Users of GAAP GAAP is used primarily by businesses reporting their financial results in the United States.

Financial Statements 75

Financial Statements Financial Reporting Financial Accounting Accounting 75

Accounting Tools

JULY 8, 2023

This information is then aggregated into financial statements. The second group is comprised of the steps needed to record individual business transactions in the accounting records. The third group is the period-end processing required to close the books and produce financial statements.

Financial Statements 75

Financial Statements Accounting Accounting General Ledger 75

Accounting Tools

JUNE 15, 2023

A responsibility center is a functional entity within a business that has its own goals and objectives, dedicated staff, policies and procedures, and financial reports. This allows the senior managers of a company to trace all financial activities and results of a business back to specific employees.

Financial Statements 75

Financial Statements Financial Reporting Accounting Accounting 75

Accounting Tools

FEBRUARY 16, 2024

Profitability ratios are derived from a comparison of revenues to difference groupings of expenses within the income statement. A different class of profitability ratios compare the results listed on the income statement to the information on the balance sheet. This is used for breakeven analysis.

Accruals 75

Accruals Financial Statements Accounts Receivable Accounts Receivable 75

Accounting Tools

OCTOBER 13, 2023

Related Courses The Income Statement The Interpretation of Financial Statements What are Sales? When quantified into a monetary amount, it is positioned at the top of the income statement , after which operating and other expenses are subtracted to arrive at a profit or loss figure.

Financial Statements 40

Financial Statements Accounting Accounting 40

Counto

FEBRUARY 3, 2024

Estimating Bad Debts: Aging reports assist in estimating potential bad debts, a crucial aspect of financial planning. Bad debts are typically accounted for through an allowance for doubtful accounts, ensuring financial statements remain accurate. What Information Is Included in an Accounts Receivable Aging Report?

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables Accounting 52

Accounting Tools

OCTOBER 8, 2023

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook A bookkeeper records the accounting transactions for a smaller business and issues financial statements to the owners. Related Articles Bookkeeper Role in an Accounting Department (podcast) Full Charge Bookkeeper The Difference Between Accountants and Bookkeepers

Bookkeeping 75

Bookkeeping Financial Statements Accounting Software Payroll 75

Accounting Tools

SEPTEMBER 28, 2023

These changes can trigger modifications in the reported profits or other financial aspects of a business. An accounting change may require discussion in the notes accompanying the financial statements. Related Articles Accounting Convention Accounting Methods Objectives of Financial Reporting

Financial Statements 40

Financial Statements Accounting Accounting Accruals 40

Accounting Tools

APRIL 15, 2024

Cash return on assets measures the proportional net amount of cash spun off as the result of owning a group of assets. The formula is as follows: Cash flow from operations ÷ Total average assets = Cash return on assets In the calculation, the cash flow from operations figure comes from the statement of cash flows.

Accruals 40

Accruals Financial Statements Accounting Accounting 40

Accounting Tools

APRIL 6, 2024

The master budget is the aggregation of all lower-level budgets produced by a company's various functional areas, and also includes budgeted financial statements , a cash forecast, and a financing plan. This is not the case for the master budget, which looks very much like a standard set of financial statements.

Budgeting 74

Budgeting Accounts Receivable Accounts Receivable Account Receivables 74

Counto

MAY 3, 2024

The Fiscal Year-End (FYE), also known as a financial year, is the last day of a company’s accounting period, which typically spans 12 months, but does not necessarily align with the calendar year. This timing facilitates easier inventory management and financial assessment post-peak season. What is the Fiscal Year-End (FYE)?

Financial Reporting 52

Financial Reporting AR Accruals Tax 52

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

Counto

JANUARY 17, 2024

Under the three pillars of Core Capabilities, Innovation & Productivity, and Market Access, the EDG offers invaluable financial support to eligible businesses. EDG offers funding support of up to 50% of qualifying costs for SMEs and up to 30% for non-SMEs, with grant eligibility based on Group Revenue and Group Employment Size.

Financial Statements 52

Financial Statements Auditing Billing Accounting 52

Accounting Tools

JULY 29, 2023

Related Courses Bookkeeping Guidebook Bookkeeper Education Bundle The Interpretation of Financial Statements Who are the Users of Financial Information? There are many possible users of the financial information generated by a business. The following list presents the more likely users.

Financial Statements 40

Financial Statements Bookkeeping Tax Accounting 40

Accounting Tools

JULY 8, 2023

Related Courses Business Ratios Guidebook Financial Analysis The Interpretation of Financial Statements Sales margin is the amount of profit generated from the sale of a product or service. It is used to analyze profits at the level of an individual sale transaction , rather than for an entire business.

Financial Analysis 74

Financial Analysis Financial Statements 74

Accounting Tools

JULY 12, 2023

Related Courses The Income Statement The Interpretation of Financial Statements What is the Purpose of the Income Statement? The purpose of the income statement is to show the reader how much profit or loss an organization generated during a reporting period.

Financial Statements 40

Financial Statements 40

Accounting Tools

NOVEMBER 1, 2023

This conservative approach is not intended to result in arbitrarily reduced financial statements, but rather to produce results that are unlikely to require future adjustments, thereby gaining the public’s trust in the contents of financial statements.

Financial Statements 40

Financial Statements Accounting Accounting Bookkeeping 40

Accounting Tools

JULY 17, 2023

The analysis is intended to evaluate how well this group is able to achieve the objectives of the business. The audit may address strategic and tactical planning, decision making, the financial and operational results of the business, and risk management. This type of audit is usually conducted by an independent third party.

Auditing 40

Auditing Financial Statements 40

Accounting Tools

OCTOBER 25, 2023

The results of these tests can then be used by a company's external auditors , who can choose to rely (or not) on the tested abilities of the accounting controls when developing their own procedures for how the company's financial statements will be audited.

Auditing 75

Auditing Invoicing Financial Statements Accounting 75

Accounting Tools

JUNE 16, 2023

Related Courses Cost Accounting Guidebook Financial Analysis The Interpretation of Financial Statements What is the Weighted Average Contribution Margin? The weighted average contribution margin is the average amount that a group of products or services contribute to paying down the fixed costs of a business.

Financial Analysis 40

Financial Analysis Financial Statements Cost Accounting Accounting 40

Future Firm

AUGUST 2, 2023

In this article, you’re going to get a ton of inspiration plus a whole bunch of tips for picking amazing accounting firm names. Here are some examples: Smith Bookkeeping Solutions Brown Financial Consulting Jordan and Johnson Accounting & Tax Services Patel & Associates Certified Public Accountants Etc.

Accounting 52

Accounting Accounting Auditing Tax 52

Accounting Tools

DECEMBER 20, 2023

Advantages of Going Private By going private, a business no longer has to make periodic reports to the Securities and Exchange Commission , so its financial statements are no longer available to the general public. Related AccountingTools Course Public Company Accounting and Finance Related Article Taking a Company Private

Financial Statements 40

Financial Statements Auditing Accounting Accounting 40

Accounting Tools

SEPTEMBER 8, 2023

Related Courses The Income Statement The Interpretation of Financial Statements What is a Contribution Margin Income Statement? A contribution margin income statement is an income statement in which all variable expenses are deducted from sales to arrive at a contribution margin.

Financial Statements 40

Financial Statements 40

Cloud Accounting Podcast

APRIL 19, 2023

57:50) - Blake co-wrote an article for CPA Practice Advisor (01:02:31) - Wrap up and where to reach us Need CPE? 57:50) - Blake co-wrote an article for CPA Practice Advisor (01:02:31) - Wrap up and where to reach us Need CPE? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad?

CPA 96

CPA Accounting Accounting QuickBooks 96

Accounting Tools

JULY 16, 2023

A budget is used to forecast the financial results and financial position of an entity for a future period. Structure of a Budget At the most minimal level, a budget contains an estimated income statement for future periods. Related Courses Budgeting Capital Budgeting What is a Budget?

Budgeting 74

Budgeting Computation Accounting Accounting 74

Accounting Tools

SEPTEMBER 7, 2023

This group reviews inventory usage reports or physically examines the inventory to determine which items should be disposed of. The Timing of Obsolete Inventory Recognition You can improperly alter a company’s reported financial results by altering the timing of the actual dispositions.

Accounting 40

Accounting Accounting Financial Statements Auditing 40

Accounting Tools

JULY 31, 2023

Related Courses Bookkeeping Guidebook Credit and Collection Guidebook The Interpretation of Financial Statements What are Net Receivables? Related Articles Accounts Receivable Accounting Accounts Receivable Aging How to Calculate Average Accounts Receivable How to Reconcile Accounts Receivable

Collections 40

Collections Accounts Receivable Accounts Receivable Account Receivables 40

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. It may also apply to the ratios derived from this information.

Financial Statements 40

Financial Statements Financial Analysis Accounts Payable Accounts Payable 40

Counto

JANUARY 11, 2024

Additionally, it’s essential to have a dedicated business bank account in Singapore to handle your financial transactions with the government. This online portal is managed by the Accounting and Corporate Regulatory Authority (ACRA) in Singapore. Non-compliance can result in penalties.

Payroll 52

Payroll Financial Statements Tax Accounting 52

Accounting Tools

AUGUST 2, 2023

Related Courses Business Ratios Guidebook Effective Sales Forecasting Effective Sales Management The Interpretation of Financial Statements What is Sales Trend Analysis? It is a useful budgeting and financial analysis method that can indicate the onset of changes in the near-term revenue growth rates of a business.

Financial Analysis 40

Financial Analysis Financial Statements Budgeting Billing 40

Accounting Tools

SEPTEMBER 9, 2023

Related Courses Business Ratios Guidebook The Interpretation of Financial Statements What is the Cash Reinvestment Ratio? If these ratios indicate better performance by the peer group, there is a strong likelihood that the subject company is investing more cash than necessary.

Financial Statements 40

Financial Statements 40

Accounting Tools

JUNE 12, 2023

Average costing is the application of the average cost of a group of assets to each asset within that group. Presentation of Average Costing When average costing is applied to inventory, the nature of the method used is commonly included in the footnotes that accompany the financial statements.

Cost Accounting 40

Cost Accounting Financial Statements Budgeting Accounting 40