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Accounting is defined as the measurement of assurance about certain information in the aid of resource allocation for managers and other decision makers. The most popular and most commonly practiced branch of accounting is financial accounting. This branch of accounting involves processes where data is recorded, summarized, analyzed, organized, interpreted …

One of the most important decisions that you will have to make while starting or operating your small business is that of which accounting software to use. It could certainly be a nightmare if you make the wrong choice.During the past 20 years accounting software has advanced far beyond the …

It is important to know in business where money is coming in and where it is going out. As such, accounting is one of the most vital processes in any business. It is even more important than developing products and selling. The management of the flow of revenues and expenditures …

Pet insurance was once considered as a tactics of insurance companies to mint money out of the customer’s pocket, but for a pet owner it could be really beneficial if he is very much concerned about his pet. It may be considerably expensive to treat the pets every time they …

Who hasn’t heard of accounting? I guess, nobody. This is the part any normal, functioning business should have to deal with the company’s money and investments. Its history goes back to ancient Greece, where a primitive type of accountants existed. Accounting’s modern history dates back to the beginning of the …

Does your business needs an outside accountant? It all depends. If you require an audited or reviewed financial statement, then, yes, you need a CPA. In any event, it is always a good idea to maintain a relationship with an accountant no matter how small your business. Whether your accountant is …

Accounting principles are the basic assumptions, rules of operation, and essential characteristics that make up the framework for the construction of accounting financial statements. Long ago, I was perplexed to discover that there was no “set” of accounting principles that was presented in one form such as you might find in …

Who created accounting principles? Who sets and revises accounting standards? What if you don’t follow all the rules, do you go to jail? Is there an accounting police force that investigates and arrests violators? It would seem that there must be some regulatory force to make sure that providers of …

Business is composed of a set of interrelated system that will ensure the smooth flow of business process and convert capital to revenue efficiently. It is important for a business owner to consider each component as if it is just the existing system inside the process. Thus, utmost importance and …

Are you unable to keep a tab on the heavy accounting work undertaken by your accounting firm? This is just no reason for anyone to despair about his/her business prospects. Opt for accounting outsourcing service from an outsourcing firm to meet hectic customer demands. Accounting is a seasonal business, which …