Content Expanded Accounting Equation- Example 1 Business Development Financial Accounting Accounting Equation Explained Accounting Equation for a Sole Proprietorship: Transactions 5-6 Sell Goods on Credit Printing Plus did not pay immediately for the supplies and asked to be billed for the supplies, payable at a later date. This creates a liability for the company, Accounts Payable. This liability increases Accounts Payable; thus, Accounts Payable increases on the credit side. Printing Plus has not yet provided the service, meaning it cannot recognize the revenue as earned.…

Content Online Bookkeeping Software for Small Businesses Keep track of daily ingoings and outgoings How to manage your bookkeeping Which is more important right now – bookkeeper or accountant? What is bookkeeping? You can choose to operate as a sole bookkeeper or hire additional staff. Consider the additional profits you could make by hiring more bookkeepers and compare this with the additional outgoings you will have, such as their wages and the cost of additional equipment. If you think there is a market for more…

Content How cloud technology can revolutionize your finance and accounting function A strong USP will bring new clarity to your business Reasons to Use Cloud Accounting Software Future of Cloud Accounting Accounting for CCAs when optimizing for other GAAP changes Working remotely Introduction To Cloud Accounting Technical Support Manual data processing takes up a large portion of time and opens room for mistakes. You might have been hearing the word “cloud” a lot recently and in a lot of different contexts. Have you been curious…

Content Relevance and Uses of Times Interest Earned Formula Times Interest Earned Ratio How To Interpret Interest Coverage Ratio How To Calculate Interest Coverage Ratio Using EBITDA How to Interpret Times Interest Earned (High vs. Low TIE Ratio) Examples of Times Interest Earned Ratio Formula (With Excel Template) If a firm’s TIE ratio is low, it might be safer for the company to favor equity issuance as opposed to adding more debt and interest expense. The times interest earned ratio formula is expressed as income…

Content Certificate in Accounting Meetings and events What’s the difference between finance and accounting? Students also viewed You’ll master accountancy skills through a combination of classroom learning, projects, case studies, workshops, reporting, and industry placements. Most accountancy lecturers and tutors come from a professional background, meaning you’ll pick up the secrets and insider tips of what it’s like to be an accountant in the real world. Whether you decide to work directly in a business, or join an accountancy practice to work with multiple clients,…