What is Forensic Accounting? Forensic accounting is a specialized field of accounting that combines investigative and accounting techniques to detect and investigate financial crimes. Forensic accountants are often called to present their findings to the court to explain financial crimes. In addition to uncovering financial crimes, forensic accountants are also used to trace funds, identify … Read more
Important of Cash Flow Forecasting for Business Success As a business owner, it is essential to have a clear understanding of the financial health of your company. One important aspect of this is cash flow forecasting. By accurately projecting future cash flow, you can make informed decisions that will keep your business on track for … Read more
Accounting for Sale Return: A Comprehensive Guide A sale is a transaction between a buyer and a seller that involves the exchange of goods, assets, or services for money. It is a legally binding contract or agreement between the parties involved, and it can also refer to an agreement in the financial market regarding the … Read more
Introduction to Financial Accounting Financial accounting is a branch of accounting that deals with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners, and other stakeholders. The financial statements provide information about the financial position, performance, and cash flows of a business or organization. Financial accounting involves … Read more
What are Internal Sources of Finances? Internal sources of finance are funds generated within a company from its own operations. This can include cash generated from the sale of goods or services, investments made by the company, or money saved through measures such as cost-cutting or reduced spending. The ability to utilize internal sources of … Read more
Unpresented Cheque/Outstanding Cheque A cheque is a document that orders a bank to pay a specific amount of money from a person’s account to anther person whose name on the cheque. The person writing the cheque is known as the drawer, and the person receiving the cheque is known as the payee. Cheques are typically … Read more
Auditing Financial Statement Process Auditors perform a review of the company’s financial statements to provide assurance that they give a true and fair view of the business’s financial report. In doing so, auditors consider a range of factors, including internal controls, accounting estimates, accounting policy, and so on. If any material misstatements are identified, the … Read more
Audit Procedure What is Auditing? Auditing is the process of examining and evaluating a company’s financial statements and internal controls to ensure accuracy and compliance with legal and regulatory standards. Generally, an audit is conducted by an independent outside party, such as a Certified Public Accountant (CPA) firm. The audit process includes analyzing and reviewing … Read more
External Auditor’s Duty and Responsibility An external auditor is a professional who is responsible for performing an independent examination of a company’s financial statements and records. The goal of this examination is to provide assurance to stakeholders that the financial statements accurately reflect the company’s financial position. In this article, we will discuss the external … Read more
Economy Pricing Price is one of the most important elements of the marketing mix, as it is the only element that generates revenue. Price also sends signals to consumers about product quality, and can be used to target specific markets. There are four main pricing strategies that businesses can choose from economy, skimming, penetration, and … Read more