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Can You Differentiate Debt and Liability​
When you run a business, you need to carry out various activities and transactions, and you need to record them in…
Guide to Marginal Cost
Cost Marginal cost refers to the change in the sum of costs which arise when the number of units produced increase by one. In simple words…
Understanding Current Liabilities
The term “liabilities” probably sounds quite familiar to most business owners, and this term can sometimes be intimidating…
Understanding Direct Write Off Method
When companies are accounting for the debts that it can no longer collect from the customers, one of the methods that they can use is the direct write off…
Understanding Closing Entries
At the end of an accounting period, the accountants from an accounting firm in Johor Bahru will make some closing entries when they are closing the books of…
Components in Balance Sheet
As an entrepreneur who is new to the world of business, do you know that you need to generate financial statements for every accounting period? The balance…
Understanding Retained Earnings
If you have read a company’s balance sheet before, you might have come across the term “retained earnings”. It refers to the amount of net income remaining…
What Does Negative Cash Flow Mean
If a company has negative cash flow, it means that the company has spent more cash compared to the amount of cash that it has earned in a particular…
Why Do We Need Cash Flow Statement
Why Do We Need Cash Flow Statement? Every business needs to generate some crucial financial statements in every accounting period as these statements are…
Why Do We Need the Income Statement?
The income statement is a statement that shows all revenue that a company has earned as well as the expenses it has incurred in an accounting period. This is…
Preparing the Statement of Cash Flow
The statement of cash flow is one of the most important financial statements that business owners will generate as they…
How to Classify Retained Earnings?
Retained earnings refer to the net income that the company has accumulated over some time…

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