Accounting

Differences Between Financial Accounting and Cost Accounting

Differences Between Financial Accounting and Cost Accounting Business owners should be quite familiar with the term financial accounting, but some of them may wonder what cost accounting means. Financial accounting refers to the process of recording and grouping financial transactions to generate financial statements for a company. On the contrary, cost accounting refers to the …

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How Do Accountants Carry Out the Accounting Process?

How Do Accountants Carry Out the Accounting Process? Have you ever wondered how the accountants carry out the accounting processes? As a business owner, you may have realised how vital accounting is towards your business. Besides letting you see your company’s performance in the past and your current financial position, the accounting will help you …

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Essential Lessons That You Might Not Have Learnt from Business Schools

Essential Lessons That You Might Not Have Learnt from Business Schools You can learn many great things when you study in a business school. You may also possess a world-class educational program and outstanding lecturers who will lead you throughout the process of acquiring knowledge. However, you have to accept the fact that no university …

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The Importance of Accounts Payable Process

The Importance of Accounts Payable Process The importance of the accounts payable procedure or function should not be underestimated because it includes almost everything about an organisation’s settlements other than payroll. An entrepreneur or maybe a bookkeeper in a small company, an ordinary employee in an average-sized firm, or accounts payable unit in a big …

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How to Increase Working Capital

How to Increase Working Capital Working capital allows a business to continue its everyday operations. Inadequate working capital might lead to interruptions in company operations. Hence, working capital is an essential part of operating a company effectively. Three Elements Of Working Capital Inventory + Receivables – Payables = Working capital Accounts receivables are cash invoices …

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