Liability: Definition, Types, Example, and Assets vs Liabilities

These stem from past transactions or events and result in an outflow of resources, usually in the form of money, products, or services. Liabilities are reported on a company’s balance sheet and determine its financial health. Managing liabilities is a crucial aspect of running a successful business. Long-term liabilities, on the other hand, can be…

9 Best SF Bookkeepers To Organize Your Finances in 2020

These services aim to ensure the smooth running of back-office operations while clients gain more time to focus on other business aspects. Sutro Li is a financial firm that provides bookkeeping and financial services to nonprofits, businesses, and individuals in the San Francisco metro. Sutro Li offers in-depth knowledge on efficiently managing company finances as…

How to Pass the QuickBooks Online ProAdvisor Certification Exam

The Desktop track covers skills specific to the desktop version like managing inventory, tracking fixed assets, processing payroll, and more. Earning your QuickBooks Advisor designation is a strategic how long does quickbooks certification take move for any accountant or bookkeeper looking to expand their skill set and attract new clients. To get started, we recommend…

Financial Accounting Meaning, Principles, and Why It Matters

Without these rules and standards, publicly traded companies would likely present their financial information in a way that inflates their numbers and makes their trading performance look better than it actually was. If companies were able to pick and choose what information to disclose, it would be extremely unhelpful for investors. The International Financial Reporting…

Accounting For Purchase Discounts Explanation On Types Of Discount And Examples

Our automated accounting tools can help you manage your incoming and outgoing payments more efficiently while encouraging more accurate and consistent financial processes and reporting. Unfortunately, the last few months of 2023 had been rough on Chocolobster due to a discount related to early payment is a unexpected supply chain issues. The business is facing…

Accounting For Purchase Discounts Explanation On Types Of Discount And Examples

Our automated accounting tools can help you manage your incoming and outgoing payments more efficiently while encouraging more accurate and consistent financial processes and reporting. Unfortunately, the last few months of 2023 had been rough on Chocolobster due to a discount related to early payment is a unexpected supply chain issues. The business is facing…