When it comes to accountancy, ethics and professionalism are two words that need to be used together. If you are in a business where you are handling other people’s money, you need to be ethically and professionally correct. This blog looks at why this is so important and why you should always put the customer…
When learning something new, such as accounting ideas and terms, it is beneficial to make connections between what you already know and what you are attempting to learn. In some ways, it is similar to learning a second language, as deciphering the new word is part of the process of learning. For instance, if you…
Every industry undergoes its own transformational phases. With the passage of time, new technologies and procedures are produced. The evolution of all sectors is influenced by both internal and external causes. The accounting profession is no exception. Changing of the times Few accountants used software to complete tax returns for clients just a few years…
SEO meta description: There are many misconceptions about what accountants do and how they can help your startup. In this article, we will go through the top 5 accounting tips for small businesses and startups. Read more here. ___________________________________________________________________________ Many small businesses do not have a strong understanding of accounting at a time when it…
When most people hear forensic accounting, they may think of a highly trained professional with a lab coat, analyzing a blood stain on the floor by the windowsill. But forensic accounting has more to it than what meets the eye. What Is Forensic accounting? Today’s news broadcasts will likely include a story about fraudulent activity….
Cash versus accrual accounting can be a confusing subject. Business owners who have never had to deal with the financial side of a business have a lot of questions about it. The idea that accounts are cash based or accrual based seems to be an obstacle for many business owners and so to help them…
Accounting principles and standards are absolutely necessary for any business as they help to clearly explain financial information. But these principles and standards can also be very complicated and convoluted. Keeping up with the latest publications and making sure your business follows accounting standards and principles can be a long and difficult task. The accounting…
It is sad but true. In today’s digital age, accounting violations are becoming more prevalent. The most common ones are fraudulent refund requests and cash discounts. You can proactively prevent these violations by implementing stricter internal controls. Is there a police force dedicated to accounting that investigates and charges violators? Accounting is a complicated field…
Every business needs accounting software to keep a check on cash flow and to keep their accounts in order. Finding the right solution for your business, however, can be tricky if you don’t know what to look for. The language of business One common expression refers to accounting as “the language of business.” The needs…
What have we learned after a couple of years of great difficulties and economic upheaval? We all want to know more about what small businesses have learned from the past and how we will implement those lessons in the future. The biggest problem in 2020 and 2021 is not COVID; it was the chaos that…
