A corporation is a mode of a business organization through which your business comes to be recognized as a legal entity in the eyes of the government. In the following,…
Read More
Petty cash is an amount of cash that is kept on hand so that it’s available to employees to make smaller purchases. Usually, it’s not a lot of cash, but…
Financial analysis is the process of using a company’s financial data to assess its performance. Then, the financial data is used to make recommendations on improvements that can be made…
The current liabilities of a company are comprised of its short-term obligations. They are considered short-term liabilities because the financial obligation is expected to be paid within 12 months. Sometimes,…
Period costs are also known as period expenses, time costs, capacity costs, and operating expenses. In order to keep your budget efficient, it is important to know how to report…
Salary is an annual amount agreed upon between company and employee and paid to the employee in increments on a schedule for work performed in a specific role. Salaries can…
Investment involves putting away capital to use today to increase its value over time. It requires putting capital to work in the form of time, money, effort, and more to…
Equity refers to the value of an asset after subtracting the value of any liabilities on it. It is commonly used to depict the value of a home and help…
Financial planning is a strategy that helps you meet your financial goals. You gain control of your expenses, income, and investments, so you can handle your finances. Financial planning acts…
GAAP stands for Generally Accepted Accounting Principles. This collection of accounting standards and rules is followed by accountants and used for financial reporting. The goal behind designing a common set…
