Small business accounting basics for solopreneurs. If you look at this infographic image, it will help you to understand more. Small business accounting basics for solopreneurs. Your business activities consist of selling goods or services; simultaneously, you have to spend money on behalf of the business for purchases like raw materials, […]

How to be financially independent? To be financially independent, you must learn money management as a start-up habit. When they are young, some children get pocket money from their parents, and parents teach them how to save and spend it on what they like. The habit of saving starts from a […]

What is cost accounting used for? Cost accounting assists in calculating the manufacturing industry’s cost when producing goods for sale. Cost accounting is managerial accounting in the manufacturing industry, so the total prices include production, variable, and fixed costs. Cost accounting provides analysis & classification of expenditure. It helps to understand […]

What is the construction industry scheme? What is the construction industry scheme? A contractor will deduct money from a sub-contractor and pay that to HM Revenue and Customs. These deductions are the advance payment by the contractor towards the subcontractor’s tax and National insurance. Contractors have to register with the tax […]