You need to know that you have enough in your accounts to cover any checks that you plan to write. Use your accounting software platform to verify your balances and get a handle on your cash position each day. While you’re at it, you’ll be able to identify trouble spots and make adjustments to improve your business. Business accounting is […]

Here’s an overview of the rules for properly identifying, measuring, and reporting contingencies to provide a fair and complete picture of your organization’s financial position. It’s critical for business owners and managers to understand how to present contingent liabilities accurately in the financial statements. Under U.S. Generally Accepted Accounting Principles (GAAP), some contingent losses may be reported on the balance sheet and income statement, […]