Managing Cash Flows in a Better way
Jennifer edwards Cash can be considered as the life and soul of the business and works like blood that keeps a business alive. For a small and medium sized business cash flow…
What are Wage Expenses?
As the name indicates wage expenses are the expenses associated with the wages of the non-manufacturing employees. Wage expense is delivered to the employees on the hourly biases or in…
Residual Income
Residual income can be defined as the income that is left with a business or an individual after paying all the expenses, debt and mortgages from the net income. Most…
Theory of Constraints
Theory of constraints is used as a tool or a method to find the most important constraint that is acting as a limiting factor while achieving the goals and objectives…
Budgeting Accounting
Budgeting accounting is the process of preparing budget that will help in general accounting process of the company. With the help of accounting budget or budgeting accounting one can make…
Journal Accounting
The very first record of all the financial transactions are recorded in the journal and the process of recording these entries is known as journal accounting. The major reason of…
Inventory Control System
Inventory control system is a system that helps in controlling, calculating and locating the products or the raw materials within an inventory either manually or through a computer aided system.…
Sinking Fund
Sinking fund is a tool or a mean of reimbursing those funds that were borrowed from another party by issuing bonds, preferred stocks or debentures. The issuer of the bond…
Profit and Loss Statement
The summary that shows the financial performance of a business during a specific accounting period is called profit and loss statement. A profit and loss statement can be issued at…
Difference between Bookkeeping and Accounting
There is certainly a difference between bookkeeping and accounting as the bookkeeping is the subset of accounting. Bookkeeping refers to recording all the transactions that are made within a business.…
The Bill of Exchange
The bill of exchange is the binding document that exists between the two companies and usually done when two parties are conducting international trade. In this bill there are two…
Payroll Expense
The expense that occurs within a company due to the salaries and wages of staff and labor is called payroll expense. The salaries are granted to the staff in return…
Asset Conversion Loan
Asset conversion loan is a type of loan that is reimbursed by liquidating an asset. These types of loans are kind of short term loans and are paid by liquidation…
Accounting Period
Accounting period is the time span or time period in which certain financial activities and transactions take place is called an accounting period. Most commonly a year of 365 days…
Appraisal Capital Explained
Appraisal capital is a process of accounting assets. As the name indicates it is the capital that is appraised when it occurs within a business. Appraisal capital is gathered or…
Outbound Cash Flow
The money that moves out of a company’s or an individual account as a result of a transaction is called as outbound cash flow. The examples of outbound cash flow…
Invoices in Accounting
Invoice has an important role in accounting as it is the documented proof of a transaction. It is a piece of paper that is issued by the seller to the…
Revenue Forecasting
Revenue Forecasting is very important in order to see the future growth and expansion of the company related to the revenue and expenses of the firm. With the help of…