Is hiring a bookkeeper better than the owner doing it? Bookkeeping is crucial for a business and needs good maintenance to save the company from losing. May businesses fail without a proper understanding of bookkeeping as things can get out of control quickly. For example, your expenses can escalate without even […]
How could an accountant help your business? Every good business will have an excellent entrepreneur; besides, there will be an accountant. Implementing an accounting system helps the company start completely controlling its finances, such as minimizing tax payments and keeping overheads to the minimum. People who run a successful business may […]
What tips for keeping small business books with Excel? Using Excel for small business accounting is easy, but it will take some time to post all the transactions into Excel. You have to create a spreadsheet to enter your daily transactions. But it would be best to have different spreadsheets for […]
What do we mean by internal control cost and firm value? Internal control applies to accounting first; let me discuss maintaining internal control in any business. You understand the business will have many expenses, so when you start the company, you must forecast the costs and prepare your budget showing possible […]
What happens when liabilities exceed assets? What is a liability? Liability is the amount a business owes to others, like more loan payments and creditors, which means the company is in debt. What is an asset? An asset consists of land & buildings, equipment, machinery, and debtors, that is, the money […]
