Importance of Accounting for a Business
Importance of Accounting for a Business

Most of the Business Consultants, Management Consultants or even Business Owners consider Production, Marketing, Servicing and Finance as core areas of business. In my 25+ years of being an Accountant I have hardly heard anyone saying that Accounting it the backbone of any business. Being in the Accounting Services profession for more than 25 years, I can tell you that Accounting is the…

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Understanding Key Financial Ratios
Understanding Key Financial Ratios

You need to know a lot in terms of financial statement when it comes to small business accounting in order to make informed financial decisions. One of the most important things where you can start is by understanding the calculation of key financial ratios and its interpretation. Before we jump to understanding of key financial ratios it is important to do a quick refresher to…

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What’s the difference between Accounting and Finance
What’s the difference between Accounting and Finance

As you grow your business you will need advisor for your money management. The question here is, should you hire an accountant or a financial consultant here? It’s very important to understand that accounts and finance both are forms of money management. While finance deals with your investments, mutual funds, stock investments etc, accounts deals with your taxes, receivables, payables,…

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8 Benefits of Outsourced Accounting
8 Benefits of Outsourced Accounting

Outsourced accounting services have become a great option for small as well as the large companies these days, but are they really great? Here are eight reasons why you should consider using outsourced accounting services for your business. #1  Prebuilt Process Outsourced accounting services means you are buying efficient services as long as the company you work with is an…

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Which are different types of entities?
Which are different types of entities?

Starting new business can be exiting and at times scary. It is time to take big decisions that may have resonating impact on success of your organization and even the course of your life. Arming yourself with the information you get will help to ensure you make the correct decisions that will set your business up for success. Luckily for…

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Depreciation of Assets
Depreciation of Assets

Do you love that new car smell? Who doesn’t? You reach all  exited to your  car dealer, have some “Pooja”, take your car keys and drive it off the parking lot of the dealership with a big whiff of that lovely new car aroma! Bang! No, you didn’t meet with an accident but value of your car just fell by…

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FIFO vs LIFO inventory systems
FIFO vs LIFO inventory systems

A big part of accounting revolves around the wonderful world of tax compliances and regulatory bodies that work in conjunction with the accounting aspect of tabulating business performance and tracking the flow of money throughout the company. Stock valuation or stock accounting deals with valuation of company’s inventory, which can vary due to not only not only how many products…

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