It is mostly concerned with providing financial reports to the company’s management in order for them to make sound economic judgments. Conventionally, financial accounting aims to ascertain information regarding the…
This means they focus on the overall revenue and expenses of a business, and don’t often go into too much detail into other aspects. Management accounts on the other hand…
Accounts payable – which is money owed to suppliers – tends to be the largest current liability a small business has. For instance, a store executive may arrange for short-term…
You don’t need to be a luxury goods retailer to give your customers a white-glove experience. Appointment shopping can be done during regular hours or after hours, in-person or online…
RAPID is a thoughtful and constructive process, but it’s not meant for every problem. The process naturally lends itself to more complex issues that require a lot of stakeholder input.…
For an added layer of reassurance, and assistance with the filing process itself, tax apps can be hugely beneficial for Etsy sellers. States were put in charge of handling this…
If you use a third-party payment processor instead of or on top of Shopify Payments, you’ll have to pay an added transaction fee. The fee is 2.0% for Basic, 1.0%…
Conversely, an increase in liabilities is a credit because it signifies an amount that someone else has loaned to you and which you used to purchase something (the cause of…
It is important to get insight into the financial position of a business. Double entry accounting creates the foundation for other types of specialized accounting and bookkeeping, so other frameworks…
If they don't generate enough cash from their current operations, they may need to raise capital. Angel investors and venture capitalists are often highly experienced, discerning investors who won’t throw payroll…