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What is "Accounting Equation" ?

The “Accounting Equation” is a basic principle of accounting and a fundamental part of the balance sheet. The equation sets the basis of double-entry accounting and shows the structure of the balance sheet. Double-entry is a system in accounting where each transaction affects both sides of the accounting equation.

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What You Need To Know About Tax Season

It’s that time of the year again, where there never seems to be enough hours on the clock to do everything you need to do. We are of course talking about tax season. The season can be a trying time for those who are caught unprepared. This is why we wrote down a few things we thought you should know about hiring bookkeepers to help you this coming tax season.

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Why you should hire a bookkeeper

If you are the owner of a business that is growing at a steady pace, you can only live with DIY bookkeeping for so long. Maybe you have been using a random spreadsheet template you found online. But as your business grows and you finances get more complicated - you are going to wake up one day determined to hire a bookkeeper.

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What causes short-term cash flow issues

Most small-medium enterprise do not have stable income all the time. There are times when sales are excellent and times that you barely scrape by. There are also unexpected expenses and delayed payments from your customers that may threaten the health of your business.

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Understanding the Balance Sheet

Many business owners may not understand the importance of the Balance sheet. Balance Sheet provides current health status of the business. In conjunction with Statement of Cash Flows and Income Statement, It may present early signs of downward tail-spin if compared with previous Balance Sheets, and give a company a fighting chance to take action before its too late.

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Self-Employed? The Bookkeeping Skills That You Need to Know

Many business owners may not understand the importance of the Balance sheet. Balance Sheet provides current health status of the business. In conjunction with Statement of Cash Flows and Income Statement, It may present early signs of downward tail-spin if compared with previous Balance Sheets, and give a company a fighting chance to take action before its too late.

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Get in control of your business with a profit and loss statement

A profit and loss statement may also be referred to as a P&L or income statement. Additionally, it can also be called a statement of revenue. It is one of the three important financial statements that companies often generate.

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Statement of Cash Flows - Why is it Valuable?

A Statement of Cash Flows is also known as a Cash Flow Statement. It is one of the three most important financial documents for a company to have and is a mandatory part of the financial reports.

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