Bookkeeping

Accounts Receivable Aging Report: Importance, How to Create & Use It

2024-07-10T11:08:16+02:00

The second reason is so that the company can calculate the number of accounts for which it does not expect to receive payment. Using the allowance method, the company uses these estimates to include expected losses in its financial statement. Reviewing your accounts receivable aging report at least monthly—and ideally more often—can help to ensure [...]

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Auditor’s Report Definition, Components, Types

2024-07-16T12:14:28+02:00

An Adverse opinion shall be issued by the auditor where he concludes that on the basis of evidence obtained and procedures performed, there are material misstatements in the financial statements and the impact of the same is high. In this section, the auditor outlines their opinion of the company’s financial status depending on their findings. [...]

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How to Read & Understand a Cash Flow Statement

2024-07-24T14:15:10+02:00

Cash Flow for Month Ending July 31, 2019 is $500, once we crunch all the numbers. After accounting for all of the additions and subtractions to cash, he has $6,000 at the end of the period. The real value comes from diving into the details and analyzing these figures in the context of the wider [...]

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Vacation Accruals: How They Work & How to Accurately Calculate PTO

2024-07-17T12:40:30+02:00

The latter three examples assume that the business puts a cap on how much PTO an employee can accrue in a year. Depending on the type of PTO policy, there might be a date that an employee can once again start accruing PTO and taking time off. That reset date varies from business to business, [...]

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