What is the difference between management accounting & cost accounting? Management Accounting Management accounting is the preparation of financial statements collected from the data available from the bookkeeping work. Managers make short and long-term decisions using these reports. Usually, management accounting gets the data from cost and financial accounting. Managers get […]

What are the purposes of cost accounting? What is cost accounting? It is a form of managerial accounting to assess and calculate the cost of production using variable and fixed costs incurred during every step of the cost of production of products. The manufacturing industry uses cost accounting mainly to set […]

What are the consequences of lousy bookkeeping in a business? You always deal with money in business; we set up a company to make money and not lose money. Bookkeeping is a real help to save your business from all the hazards you will face in running a business. How can […]

Excellent accounting for small businesses. Introduction I am Vathani Ariyam creating this new course, “Excellent Accounting to help small business owners.” It explains enforcing financial control in your business, capital, and revenue expenses, controlling accounts, costing and pricing, and accounting for bad debts. It is a beneficial course for small business […]

Tips for managing the accounts and business. After many years of working in the accounting sector and my failed business experience, I want to insist that small business owners prepare themselves to implement systems in their businesses to avoid disappointments from the start. Maintain good bookkeeping from the first day of […]

How do accountants help to grow businesses? Any wise business owner knows the value of an accountant’s help. You, a business owner with the right partnership with an accountant, will get the best advice and significant support at tough times and become an asset to your business’s growth. A management accountant […]

Charities Fund accounting for reports. The main difference between maintaining accounts in business and charity is accounting for funding. Fund accounting for charities splits the income and expenditure charges into several categories according to the purpose of funding received from the funders. Let me look at the different types of funding […]

Can founders treat charities like a business? Some founders of charities do not realize the charity’s regulations, and they start to think about the profit they can make from that charity. That results in mismanagement of the charity and ends up making profits. I have seen the founders of a charity […]

What is the difference between charity and business accounting? I have worked in the accounting sector for charities for the last thirty-five years, so I know the complexity of preparing financial statements for charities. What is the difference between charity and business accounting? When preparing company accounts, take income and expenditure […]

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, […]