Financial reporting is a vital accounting process that communicates your company’s financials to internal stakeholders (management) and external stakeholders (customers, investors, lenders, regulators, etc.). There are four main financial reports — also called...
A good accounting system makes running your business so much easier, yet implementing a new accounting system is no easy feat. It can take anywhere from months to years. The implementation process is also ripe for errors if not planned correctly. Consequently, you...
For most businesses that evolved from startup to successful enterprise, the fruits of their labor were ripened by diligent financial planning, projection, and analysis. They used their financial records as roadmaps towards growth, allowing them to build accurate...
A company’s general ledger (G/L) is a comprehensive record of all your accounting transactions. Whenever a transaction is made, that transaction is recorded in the general ledger. Each journal consists of a debit to one account and a credit to another. Software, such...
On June 20th, 2018, two mega-corporations—AT&T and Time Warner—merged, marrying one of the world’s largest wireless and telecommunications companies with one of the world’s largest media and entertainment companies. When the dust finally settled, AT&T acquired...
Budgeting and forecasting are accounting and finance processes helpful for setting goals and measuring a company’s growth. Although the terms are often used interchangeably, they have some differences to be aware of. What is Budgeting? A budget is a...
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