LIFO vs FIFO: Which One is Better for My Business?
LIFO vs FIFO is a complex topic. This article will look at their similarities and differences in an attempt to help you choose which one is right for …
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What Are the Basic Grant Accounting Standards
Nearly everyone applying for a grant has to undergo the tedious process of creating a detailed budget and follow grant accounting standards. This is …
Continue ReadingFree Example of a Start Up Cash Flow Projection
Almost every new business will have to create a start up cash flow projection. Cash flow projections or proformas are often required by banks, lenders …
Continue ReadingCost of Goods Manufactured Schedule: Preparing in Excel
Sometimes factories close due to low sales, but other times factories close due to poor pricing on products sold, which leads to cash flow shortages. …
Continue ReadingLearn How to Export Chart of Accounts from QuickBooks to Excel
Who wants to spend time recreating the same QuickBooks Chart of Accounts when one perfected version can be saved and re-used whenever it’s …
Continue ReadingThe Need for Creating Contra Accounts Between Payables and Receivables
As an owner of more than one business, I often find myself creating a contra account between payables and receivables. The reason? My dealership often …
Continue ReadingFinancial Statement Audit vs. Forensic Accounting - Compliance or Fraud?
The most notable differences between financial statement audit vs. forensic accounting are the objectives of the tasks performed. Certain similarities …
Continue ReadingCost Recovery Method: Example & When to Use
Although it’s not the right solution for every business, the cost recovery method allows a business to wait until the entire cost of sale is recouped …
Continue ReadingCollect Your Own Debt for a Business & Avoid Third-Party Debt Collection Services: A Guide to Do-It-Yourself
Want to know the secrets of the pros? Read the author’s proven methods that will get the attention of those who owe you money.
Continue ReadingA Guide to Using Cash Flow Management Benchmarking
Just when you’ve got a handle on managing your cash flow, along comes a new term: cash flow management benchmarking! This not so new, but often …
Continue ReadingAnalysis of Comparative and Common-Size Financial Statements: Explaining the Differences
Comparative and common-size financial statements work together to present a more complete analysis of a company’s performance. But, how do they differ …
Continue ReadingNon Profit Cash Flow Statements that Rock
Non profit organizations receive income from a variety of sources including private donations, foundations and grants income. In addition, expenses …
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