Why do you study accounting? When I start to write, it takes me to the early years of my time when I decided on my career. I had no reason to get into accountancy, but I knew I excelled at mathematics. So, why didn’t I choose further studies in maths? I […]

Bookkeeping Essentials What you will learn in this online course If you are preparing to own a business, there are some principles you must learn about managing it. When you are a newbie, you must know the tips I mentioned in my first lecture, “Bookkeeping Today.”  When you follow the directions […]

Accounting for Petty Cash All businesses must use petty cash for minor expenses like entertainment, food, and stationery. Using debit, credit cards or issuing a cheque to cover those expenses is not advisable. It will create unnecessary complications in maintaining accounting records.  Therefore all companies manage an imprest system and reimburse […]

What is the perception of cash and bank transactions?  Cash is one of the most important things for a business to operate smoothly. A cash transaction in a company is a payment made by money when a purchase is made for business purposes, and cash is received when a product or […]

Gross profit and stock The income statement shows gross profit as a figure after deducting all the associated costs in producing your product or services from the sales, called gross profit. In another format, Gross profit= Sales- Cost of goods. The Gross Profit margin ratio  It is the most critical ratio. […]