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Accounting is a very layered process. While everybody handled money or kept track of purchases, none of that gets as deep as accounting! Explore this section for help identifying and recording transactions, writing financial statements, closing the books and more! Planning on becoming an accountant, getting ready for tax season, creating a budget or more, we’ve here to help!
Financial statements, balance sheets, income statements, and more. They’re all necessary for a business and constantly in need of sorting and review. Explore this section for explanations on reading statements properly, collecting information from balances and how to stop theft. Whether you’re auditing an accounting firm or looking for unnecessary expenses to cut, we’ve got you covered!
INOME AND EXPENSE
Costs vs salaries, repairs vs wages, expense vs income, they’re all major battles. Income is the money taken in, while expense is the money removed, whether flat or monthly. Explore this section for help understanding how to balance income and expenses, calculate costs, salaries, or budgets. Whether you need help to review a company’s finances, your own finances, or a friend’s, we’ve got your back!
Nearly everyone owns assets. Whether it may be a car, some spare cash, or your home, they are everywhere! Globally, combined assets are worth over $550 trillion, with a t! Explore this section for help identifying assets, calculating values or fixing balance sheets. If you need explanations on investments, the value of cash, land as an asset, or goodwill, we’ve got your back!
Bank debt, mortgages, loan payments, wages owed, and taxes are all liabilities. Whether you owe somebody, or somebody owes you, it is all part of a transfer of economic benefits. Explore this section for explanations of loan interest rates, enforceable liabilities, and how liabilities can further liabilities. Whether you are waiting for your next paycheck, confused about a loan’s terms and conditions, or looking at taxes, we’ve got you covered!
Ownership of assets is an incredible way to make long term profits, although assets almost always have liabilities. Equity is an asset with its liabilities’ values subtracted, often coming in the form of stock. Explore this section for more information on face value, book value, market value, and more. Whether you are starting to invest in companies, looking for an undervalued asset or don’t understand assets vs liabilities, we’ve here to help.
COST OF GOODS SOLD
Raw materials, parts, labor, supplies, utilities, shipping, delivery and more all fall under cost of goods sold. While many people do not think extremely far past the initial price of a product, there’s tons more beneath the surface! Explore this section for explanations on expenses, distribution costs, sales force costs, and more. Whether you are planning on running a drop shipping company, researching profit vs loss, or more, we’ve got you covered!
PRIFIT, LOSS & RETAINED EARNINGS
Profit means net income, or positive gains after subtracting expenses from income. Losses are when expenses outweigh the income. Retained earnings is the money left after dividends and such are paid out to investors. Explore this section for a better understanding on profitability, why small companies lose so much money, and how dividends work. Reading a balance sheet, investing in a company, or more, we’re here to help!
Business activities and balance sheets make up a large portion of financial statements, a snapshot in a business’ life. There are tons of information to learn about a company through their statements. Explore this section for explanations on statement contents including executive compensation, accountant fees, and more. Whether you are studying business practices, viewing the managerial system of a company or more, we’ve got you covered!
FINANCIAL STATEMENT ANALYSIS
Financial statements are snapshots into a business’ life and can provide all sorts of information about a business. Finances, managerial systems and even risks are all present in a statement, creating a very in-depth look into a company. Explore this section for help comparing companies financially, understanding cash flow, and analyzing risk and profitability. Forecasting a company’s cash flow, evaluating performance, or more, we’re here for you!
CASH FLOW ANALYSIS
Operations, investment, and financing are all different types of cash flow. With so many different types, it can be quite difficult to compare and analyze flows. Explore this section for explanations of free cash flow, financial health, and movement of cash. Whether you are creating a cash budget, protecting your income, or looking for indicators, we’ve got you covered!
We all know everything comes at a price, right? Costing is designed to assign costs to every part of a business, giving everything a value and a cost. Explore this section for information on placing costs on customers, employees, products, line and more! Whether you are looking to reduce variable costs, studying customer value, observing product lines or more, we’ve got your back!
Managing income and expenses can be incredibly difficult, with jobs and side-jobs competing directly with groceries and cellular service, for example. Budgeting is the solution, a way to help cut unnecessary costs and create profit. Explore this section for help balancing expenses, creating plans for your money, cutting extras and more. Whether you are struggling financially or just looking to save some money, we’re here to help!
Decisions are tough. Luckily, management accounting really helps solve the decision part! Explore this section for help analyzing and interpreting business information, designing goals, communicating with management, and more. Planning on working with management, assigned to a project, or just analyzing financial documents to build a plan, we’ve got you covered!
Recording, summarizing and reporting are the three major parts of financial accounting. All of these apply to financial accounting, a very in-depth topic! Explore this section for help providing information about a firm’s performance, keeping track of transactions, and more. Whether you are balancing income and expense statements, analyzing cash flow, or more, we’ve here to help!