Year-End Accounting is an Accounting process undertaken by companies at the end of each Financial Year to summarize and analyze business activities for the entire year. Companies carry forward the balances to new year accounts and close the previous year accounts. An accurate Year-End account process helps companies to...
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Processing and managing the salaries of different employees in a business can be a tough task, especially if you have a large workforce. To manage compensation and benefits to be given to the employees, businesses use Payroll Processing. Let us see in detail what it is and how to...
Financial Statements are documents that present the various monetary activities of a company. A Financial Statement comprises of three elements: Balance Sheet Cashflow Report Income Statement. How to prepare a Financial Statement? A Financial Statement is prepared by financial experts. They gather the information related to the company’s monetary...
Business projects usually require a significant amount of money. If an individual or an entity is well off to fund their project, then it is probably the best possible scenario. However, many times the projects are to be funded through debt syndication services, or in simple words, through a...
The main purpose of doing any business is to generate revenue. Profits come from sales and the one who buys the product or services provided by a business is called a customer. Hence, it is necessary to check whether the customers are profitable for the business or not. What...
An expense report is a form used for tracking business spending, receipt capture, reimbursements. It is the record of every small purchase or expense made required to operate a business, i.e., business spending. It can be for parking, repairs, meals, airlines, rent, fuel, hotels, reimbursement, etc., classified in different...
Millions of individuals and businesses file Annual Tax Returns to report to the federal government their income, the deductions and claims, the total tax bill, and the underpaid or overpaid amount for the year. Your Tax Return filing obligations depend on your income, if you are claimed as a...
What is General Ledger? In the double-entry bookkeeping system, General Ledger (GL) sorts, stores, and summarizes a business entity’s all transactions, except sales and purchases. It is the basis for the financial data of a business that incorporates all the necessary financial transactions data to prepare a company’s financial...
For every business, their Fixed Assets are a significant capital investment that requires several accounting transactions regarding purchases, depreciation, revaluation, disposal, and many other aspects related to Fixed Assets. Fixed Asset Accounting records all these financial activities during a business’s lifecycle in related accounts, thus playing a crucial role...
The post-merger integration is a dicey angle of Merger and Acquisition (M&A). It is a long and critical process of combining and rearranging participant companies in order to maximize potential efficiencies. The Post – Merger Integration or M&A Integration Process should be handled carefully because realizing the maximum potential...