Category: Accounting Services

What is Trial Balance? A trial balance is a financial report that lists a company’s general ledger accounts closing balances at a certain period. A trial balance contains accounts that are the main accounting items, such as assets, liabilities, revenues,...

Financial accounting is different from bookkeeping, and accounting has a dual entry for every transaction – debit and credit. In the dual entry system of accounting, the accountant must first identify which account should be debited and which one should...

The GAAP or Generally Accepted Accounting Principles comprises a set of commonly followed accounting standards, procedures, and principles for financial reporting. GAAP is the basis of accounting procedures, as approved and used by the FASB or Financial Accounting Standards Board....

Outsourcing accounting services are exclusive accountant tools that are used to withdraw non-core functions of full-time accountants from the third party. It helps expand the range of services and cut down ongoing accountant costs. It has been very popular among...

Accounting is a critical aspect of any business. It ensures that sound financial decisions are made for the success and smooth running of the business. Usually, it involves the preparation and consolidation of financial statements and accounting reports for easy...

In recent years, there have been considerable changes in the business landscape. The increasing globalization, free movement of people, easy communication, technological advancements, and the shrinking of the world have helped change the business environment. These factors have led to...

Often in businesses, the services of an accountant may have reached their limit, and the accountant is faced with a new or unique business circumstance. In such situations, the management needs to bring in extra help in the accounting department,...

Most of the businesses start at a very small size and gradually grow to a bigger size. During its infancy, the management may not make a lot of transactions and this is why it may not feel a need for...

Accounting and bookkeeping are the most important business functions and it should be taken care by the management that there functions are properly performed. As the business grows so does the need and requirements of the company changes and the...

Every business has follows a business accounting system. This accounting system helps the business to keep a track of its financials and the financial situation of the business. It is very important for the management of the business to keep...