Category: Accounting

The three most common ways in which you can own assets at the time of your death are individually (in your own name), jointly (along with at least one other person), or by contract (naming an ultimate beneficiary). Depending on what your goals are during life and after death, the way you title your assets…

A balance sheet may be defined as “a statement prepared with a view to measure the exact financial position of a business on a certain date. “It is prepared from the trial balance after all the balances of nominal accounts are transferred to trading and profit and loss account and corresponding accounts in the ledger…

Looking for business loan generally refers to the process by which a business owner researches and compares the different financing options available to find the one that is best suited the needs and capabilities of the business. Most business loans are available from the Small Business Administration (SBA), commercial banks, and non-traditional finance companies. Most…

It’s bad enough that the Federal government has the audacity to tax your family at 55 percent on the assets that you leave them when you die (assets that you have already paid income tax and capital gains tax on during your lifetime). You’d think that taking 80 percent of everything you have ever acquired…

The difference between ERP and accounting software lies in their functionality, range, design, outputs and of course size. Accounting software recently has been used as synonym to ERP which is perhaps most misleading to general people, accounting software has been and will remain one of the most important part of the Enterprise resource planning software…

Accountants prepare trial balance to check the correctness of accounts. If total of debit balances does not agree with the total of credit balances, it is a clear-cut indication that certain errors have been committed while recording the transactions in the books of original entry or subsidiary books. It is our utmost duty to locate…

Life throws all kinds of surprises at us, so we need to be equipped to deal with these surprises in order to protect ourselves and our families. If you are not already convinced, here are the top five reasons why you should ensure that you have appropriate health insurance. The Top 5 reasons include: 1….

Many owners in the commercial real estate industry are unaware that a second lien position loan exists, and especially in this rough market. But yes, for the right scenario borrowers can still secure these second lien position loans. These programs are geared towards smaller projects though with real estate values less than $3,000,000. Loan amounts…