Should You Study Accounting Or Marketing? Are you considering a career in business but unsure which path to take? Accounting and marketing are two popular options, but which is right for you? To make the best decision, it’s important to understand the differences between these two fields. In this article, we will explore the essential … Read more
Is Accounting Fun Or A Boring Job? Accounting is a field of study that focuses on the measurement, disclosure, and interpretation of financial information. It is a diverse field, with many roles and responsibilities for accountants. In the past, accounting was often associated with tax-oriented work. However, this is no longer the case. Accountants now … Read more
Accounting For Equity Reserve Equity Reserve is a portion of the equity section of the balance sheet which represents the balance raised from other transactions, excluding share capital and retained earnings. It is the difference between a company’s assets and its liabilities plus equity. Equity Reserve is important in financial reporting because it can be … Read more
Why Do Account Payable Show A Negative Balance? Accounts Payable is a short-term debt that must be paid to a creditor for goods or services received without upfront cash payment. It falls into the category of current liabilities and is considered a liability. Companies or individuals must pay this amount to avoid default. Accounts Payable … Read more
How Long Are 2 Business Days? Business days are a fundamental part of the working world, providing structure, clarity, and efficiency for businesses and consumers alike. Usually, a business day consists of the hours between 9am and 5pm from Monday to Friday, excluding any holidays. Depending on the country, the workweek may be different; however, … Read more
Are Retained Earnings Current Liabilities Or Assets? Retained earnings represent a portion of the shareholders’ capital that is accumulated over time from the company’s net income. The funds are used to pay shareholders in the form of dividends or compensation, and while they are not considered assets of the company, they are an additional equity … Read more
Prepare Budget Balance Sheet A Budgeted Balance Sheet is a report that provides an overview of the future financial position of an entity. Unlike a traditional balance sheet, which reflects actual balances on particular dates, a budgeted balance calculates estimated values for assets, liabilities, equity, and other financial categories at some point in the future. … Read more
What is Retained Earning? Retained earnings, also known as accumulated earnings, refer to the amount of net income and profits that a business has kept since it initially commenced operation. It is the portion of a company’s profit that is not paid out as dividends to shareholders, but instead retained in order to finance operations … Read more
Suspense Accounts A Suspense Account is a temporary account set up in accounting to hold transactions that cannot be immediately identified or processed. This type of account acts as a safeguard to ensure that financial records remain accurate and complete, even when there are discrepancies or missing information. The cause for a Suspense Account can … Read more
Objective of Financial Management Financial management is the practice of managing and overseeing the financial resources of an organization to ensure its long-term success. It involves the management of the procurement and utilization of funds within the enterprise. Furthermore, it encompasses activities related to the financial well-being and success of the enterprise. Financial management applies … Read more