Like any mathematical equation, the accounting equation can be rearranged and expressed in terms of liabilities or owner’s equity instead of assets. The balance sheet reports the assets, liabilities, and owner’s (stockholders’) equity at a specific point in time, such…
Yes, a company with a liquidity ratio of 8.5 will be able to confidently pay its short-term bills, but investors may deem such a ratio excessive. An abnormally high ratio means the company holds a large amount of liquid assets.…
The cost principle means that a long-term asset purchased for the cash amount of $50,000 will be recorded at $50,000. If the same asset was purchased for a down payment of $20,000 and a formal promise to pay $30,000 within…
The demand for remote accounting jobs has increased significantly, offering work-life balance, cost savings, and diverse opportunities. Remote accountants need technical proficiency, time management, analytical and communication skills. They should highlight remote-friendly experiences, optimize resumes for remote work, and prepare…
QuickBooks Payroll is the leading platform among churches that keep track of their bookkeeping. The combination of these 2 programs makes it easy to integrate payroll information across platforms. MinistryWorks has a unique pricing structure that charges organizations per payroll…
Send invoices on the road, take photos and upload expense receipts in seconds, and respond to your clients’ questions right from the app. FreshBooks accounting software stays in sync across the desktop and mobile apps so you can work on…
