Pros & Cons of Accounts Payable Outsourcing vs AP Automation
Admin So, while you're laughing at their lightning-fast operations, rest assured that your financial records are in safe hands. Founded in 2005, ILM Corp. has been a pioneer in the accounts…
12 Bookkeeping Skills You Must Have
Benefits of this option include potentially fewer hours, choosing how many clients you work with, and the freedom to partner with bookkeeping companies to free up even more time. If…
6 Best Accounting Software for Australian Businesses in 2024
It now costs $8 per month if you want the ability to scan and upload expense receipts, a feature many other small business accounting apps offer for free. Wave's core…
Average Collection Period Formula, How It Works, Example
Average collection period refers to how long it typically takes to collect payment from your customers after you’ve delivered a product or services, i.e., accounts receivables. In other words, it’s…
Oil and Gas Accounting: Key Principles and Practices
The revenue standard may require companies to adjust revenue recognition for the time value of money if the contract terms include a significant financing component. Since sellers have no obligation…
Einstein and the magic of compounding
It is like a snowball rolling down a hill, getting bigger and bigger, year after year after year. You have to leave it in your account to allow the compounding…
How to Save Your Construction Business? Hire a Construction Accounting Consultant in Fort Collins!
Somehow, he was either taking on too many jobs and not making much money, or wouldn’t have enough jobs to cover costs. Chris’s background as a retired army serviceman fuels…
ETF vs Mutual Fund
Minimum initial investments for mutual funds are normally a flat dollar amount and aren't based on the fund's share price. Unlike ETFs, mutual funds can be purchased in fractional shares…
The complete guide to finance and accounting outsourcing services
Now that the cost of outsourcing is less than the pay of one financial executive, many companies are beginning to outsource their finance and accounting operations more frequently. Cutting overhead…
What Is Depreciation? and How Do You Calculate It?
Small businesses looking for the easiest approach might choose straight-line depreciation, which simply calculates the projected average yearly depreciation of an asset over its lifespan. Since different assets depreciate in…