by Odiono | Aug 27, 2024 | Bookkeeping
Companies can better understand their working capital structure by analyzing liquidity ratios and ensuring their short-term cash needs are always met. The working capital cycle represents the period measured in days from the time when the company pays for raw...
by Odiono | Apr 22, 2024 | Bookkeeping
Cash basis accounting only records your expenses when money leaves your account to pay suppliers, vendors, and other third parties. And if you maintain your books on a cash basis, there will be little difference between your financial statements and your tax returns....
by Odiono | Dec 7, 2023 | Bookkeeping
We have also worked to build our understanding of which groups are most vulnerable to risks so we can take targeted action to reduce their exposure. Work in progress inventory can be found in the current assets section of the balance sheet, which reflects how...
by Odiono | Oct 6, 2023 | Bookkeeping
By understanding the rate at which inventory is sold, businesses can adjust their procurement strategies, ensuring optimal stock levels and minimizing excess or shortage situations. You can also divide the result of the inventory turnover calculation into 365 days to...
by Odiono | Dec 16, 2022 | Bookkeeping
If climbing that career ladder excites you, then aiming for a Level 3 Bookkeeping Certificate or more education in the financial regulations is a smart move. Staying sharp with continuous learning is key for those eyeing top-notch roles. To qualify for federal student...
by Odiono | Dec 12, 2022 | Bookkeeping
To keep it simple, bookkeeping is a tactical role, while accounting is more strategic. While math skills are helpful, data and systems analysis are keys to success in this role. This means that curiosity and deductive reasoning skills are also useful. There are many...
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