Bookkeeping

Leveraging the power of management accounting to make data-driven decisions will help you lead your organization toward a prosperous future. Effective communication of financial information is crucial in management accounting. Decision-makers managerial accounting need concise reports to understand the organization’s financial health and make timely decisions. Managerial accountants prepare reports that present financial data in …

Common Concepts and Techniques of Managerial Accounting Read More »

A company, ABC Co., receives a bank statement from one of its banks stating the balance in the bank account to be $2,650. On the other hand, the bank balance in the bank book of the company is $3,200. Since both balances are different, bank reconciliation should be prepared. As mentioned above, these include timing …

Why does a company prepare a bank reconciliation? Read More »

However, bookkeeping and accounting clerk jobs are expected to decline, with the BLS projecting a 5% fall in jobs over the same period. The BLS notes that job growth for accountants should track fairly closely with the broader economy. However, bookkeepers will face pressure from automation and technology that will reduce the demand for such …

Meeting 2024s financial services industry challenges Deloitte US Read More »

Oftentimes, an unfavorable variance could be due to a combination of factors. The shortfall could be due, in part, to an increase in variable costs, such as a price increase in the cost of raw materials, which go into producing the product. The unfavorable variance could also be due, in part, to lower sales results …

What is the meaning of a favorable budget variance? Read More »

When you register for the CB exam, consider adding a few of AIPB’s official workbooks to your order form. The six official CB workbooks range from $29 to $49 each for members ($39-$59 for non-members), containing sections on every exam topic. Quizzes included throughout the workbooks help ensure information mastery. A good bookkeeper who understands …

What Qualities Make For A Good Bookkeeper? Read More »

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Even if you look at EPS trends, you need to dig deeper to understand why a company’s EPS is rising or falling. Knowing a company’s EPS can be helpful when you’re investing, but it’s only one piece of the puzzle. High-growth companies may trade publicly for years without causing positive EPS or EPS growth; that …

EPS Earnings Per Share: Definition and Formula Read More »

I have encountered companies that do not track accounts payable, insisting that they “pay bills as soon as we get them.” This is not always the case. The person with access to the bank accounts is not always able to pay bills on the spot. Or, oftentimes bills from different periods (e.g. January 31 and …

Accounts Payable Process: The Ultimate Guide to AP Read More »

However, with so many options on the market today, choosing the right solution can be a challenge. To help, we’ve narrowed in on the best options for a wide variety of small businesses. But whatever the economy’s current condition, no business can survive long without tracking every expense and billing for every product. Businesspeople require …

Best Accounting Software for Small Business of 2024 Read More »