Benefits of Online Accounting Services

Benefits of Online Accounting Services

Accounting is often a tedious activity that involves book keeping, tax and payroll and balance sheet preparation. The need for accounting is important in any firm and, without it; most of the companies cannot make accurate standing on their financial position and determine their actual profits and losses. It becomes necessary to outsource this task to qualified professionals and accounting firms so that you are able to save time and concentrate on your major line of work. Read more

What Your Top Line Can Tell You

What Your Top Line Can Tell You

In Corporate America we have learned that the bottom line is what matters. The first instinct of many business owners when they receive their financial statements is to look at their bottom line, their profit. But what information can your top line, your sales figures, give you?

Paul J. Lim states in Why Sales Matter More Than Profits, “Forget that profits can always be touched up to make things appear brighter than they really are. Read more

Year End Finances – Who Needs to See Your Business Financial Data?

Year End Finances - Who Needs to See Your Business Financial Data?

A business should produce accounting information, in the way of the year end financial statements and other financial data, because there are various groups of individuals who require this information so as to make decisions. The needs and objectives of these groups are often different, so what might be useful information for one group may be of no use to another. Read more

The Importance of the Matching Principle in Accounting

The Importance of the Matching Principle in Accounting

    Where Did the Matching Principle Come From?

      The matching principle is part of Generally Accepted Accounting Principles (GAAP). The standards are developed and overseen by four main organizations. They are the Securities and Exchange Commission (SEC), the American Institute of Certified Public Accountants (AICPA), Finanal Accounting Standards Board (FASB) and Government Accounting Standards Board (GASB).

    The SEC was created by the federal government as a means of establishing standards for financial reporting. Read more