Why is the Accounting Cycle Flowchart So Important?
The world of financial accounting is extensive and in an accounting cycle flowchart many things occur to determine accurate financial statements. …
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Should You Establish an ESOP (Employee Stock Ownership Plan)?
What is an employee stock ownership plan or ESOP? For the small business owner, it can be a way to offers stock shares of your business to employees …
Continue ReadingWhat is the Fundamental Accounting Equation?
What is the fundamental accounting equation ? It is the same as the basic accounting equation: Assets= Liabilities + Capital; which is also the …
Continue ReadingUnderstanding Job Costing Journal Entries: Simple Journal Entries
What are job costing journal entries and in what situations are they needed? If you sell more than one product or service, you need to understand …
Continue ReadingA Guide to Balance Sheet Limitations: What Balance Sheets Won't Tell You
A balance sheet is often considered by the financial world to be a snapshot of a business, but are there balance sheet limitations? The balance sheet …
Continue ReadingA Guide to Understanding the Tax Exchange Format (TXF) File
There are many file formats, the most common ones may be .COM for a command file or .DAT for a data file, but what is a tax exchange format (TXF) …
Continue ReadingTaxes Paid in South Africa - Personal Taxation and Benefits - South Africa 2011
South Africa is seen by many as an attractive place to live and work, and a knowledge of the tax system is important for people looking at this …
Continue ReadingHow to Prepare a General Ledger - Using Accounts and Sub-Accounts
Financial accounting includes all sorts of terms like balance sheets, income statements, and general ledgers. How do you prepare a general ledger and …
Continue ReadingUseful Examples of Journal Entries: Free Journal Entry Sample Form for Download
An essential part of financial accounting is the journal entry or JE. Journal entries are necessary to debit and credit appropriate accounts when a …
Continue ReadingTypical Examples of Debits and Credits in Financial Accounting
In the accounting world, what is a debit and what is a credit? Do journal entries require both or just one? Here, Jean Scheid gives us some examples …
Continue ReadingWhat is Accrual Accounting? How to Use the Accrual Accounting Method
When you start any sort of business how do you know what sort of accounting method you should utilize? If you’re wondering what accrual accounting is …
Continue ReadingBasic Balance Sheet Example - What is a Balance Sheet?
What is a balance sheet and what is it used for? Is a balance sheet necessary for all businesses? What is included in a balance sheet? Jean Scheid, a …
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