It’s called the Balance Sheet (BS) because assets must equal liabilities plus shareholders’ equity. For every transaction, both sides of this equation must have an equal net effect. Below are
It can be difficult to tell the difference between bookkeeping and accounting for even seasoned online sellers. However, having an accountant take on the bookkeeper’s role is usually an
If the rent is paid in advance for a whole year but recognized on a monthly basis, adjusting entries will be made every month to recognize the portion of
To ensure that the master budget aligns with strategic goals, it is essential to involve key stakeholders in the budgeting process. Their input can provide valuable insights into the
