The Ins and Outs Of A Financial Statement Audit Report

An accounting audit report gives the complete financial perspective of a company, and is prepared at the end of the financial year. This document is of use to all who want an exact picture of the functioning of the company. The aim of this document is to provide insights into the functioning as well as profitability and viability of the company as a commercial enterprise. The benefit to those who study this report is that they get the real picture from studying all the information that it holds,... Read more »

Are You Properly Tracking Your Company’s Stock?

The Capitalization Table provides investors with a bird’s eye view of the sum total of all the different securities issued by a company. It includes the amount of investment that the company has procured from investors and the distribution of securities which might include common/preferred shares, options, warranties etc. and the individual capitalization ratios. The driving force behind an investment in a company is its expected return on investment, which should be profitable as well as... Read more »

How To Use Purchase Orders To Track Purchases

A purchase order is a document, commercial in nature, issued by a purchaser to a seller, informing the latter about what type, quantities and price of products and/or services that are agreed for purchase by the buyer from the seller. When the buyer sends a purchase order to the seller, it makes for a legal offer for purchasing goods or services. When the supplier accepts the form, a contract between the buyer and seller comes into existence. A Purchase Order has the following contents: 1. Purchase... Read more »

Is Your Business In Balance? All About The Balance Sheet

A Balance Sheet is a financial document prepared by a business, organization or individual at the end of a fiscal year or other period, which depicts the assets, liabilities and shareholder equity of the company. Based on the double entry bookkeeping system, the balance sheet helps assess the net worth of the company at a given point of time e.g. end of fiscal year or some other arbitrary time. The net worth is arrived at by finding the difference between all the assets owned and liabilities incurred.... Read more »

How to Monitor Your Cash Flows With A Cash Flow Statement

A cash flow statement is a financial reporting document displaying the cash outflows and inflows of a company on a monthly or quarterly basis. This report reflects the effects of changes to the balance sheet and income accounts on the cash position as well as analyzing the operating, investing and other financial aspects of the company. When analyzed, the cash flow statement helps assess the short term capability and practicality of the company as to whether it will be able to fulfill its obligations... Read more »

Give Your Customers The Credit They Deserve, Use A Credit Application

The credit application form for business to business is a great tool for small business owners, sales and marketing managers and entrepreneurs as well as anybody else who is connected with business in any way to apply and obtain credit. Used by most companies, it provides a lot of functionality for managing the sales and marketing activities of the company and has been designed specifically for making the credit business successful. The credit application, along with credit history keeps tabs on... Read more »

Merchant Accounts Aspects - About Merchant Accounts

Merchant accounts refer to a special arrangement of a business concern with a commercial bank or card issuer. As per this arrangement the business concern is permitted to accept credit card payments and deposit those payments after deducting the charges to its bank account. Merchant account activities are also widely known as payment processing. The term credit card processing is also used for describing merchant account usage. The business concerns can accept credit cards, debit cards, gift cards... Read more »

Accounting And Financial Accounting

Accounting concerns a system providing qualitative information about finances. It may relate to maintaining of a chronological list of related debits and credits of a business, the statement of transactions and the resulting balance. Accounting methodology or accounting system is a part of a ledger of accounts. The methodology of accounting involves measurement, disclosure or provision of assurance about financial information. This comes of help for managers, investors, tax authorities and such others... Read more »

Small Business Payroll Solutions

If you were to gather a room full of small to medium sized business owners and ask them what task they least like and understand, payroll would be at the top of the list for almost everyone in the room. Because most business owners are not accountants and were not math majors in college, the responsibility to pay your employees while being compliant with government regulations is generally confusing and cumbersome. All of the current state and federal regulations can give you a real headache. Thankfully,... Read more »

Microsoft Excel Features and Functions for Accountants

Microsoft Excel spreadsheets are an indispensable tool for accountants, being widely used to create financial statements as well as to produce many other types of financial reports including budgets, forecasts, cash flow and financial models. Many accountants consider themselves to be experts in using Excel but the reality is that the majority are self taught and are not aware of how to utilise the full potential of Excel. With some basic excel software training the wealth of functions available... Read more »