mayo 11, 2022
Income Summary Definition, Purpose, How to Close

But you can anticipate your future by creating hypothetical income statements for the accounting periods to come. By reading and analyzing all three financial statements, you’ll get a full picture of your company’s financial performance—so you can plan for growth, and avoid financial pitfalls. Your income statements are most powerful when used in tandem with […]

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octubre 19, 2021
How to Be Protected from HOA Fraud and Embezzlement

Examples of deceit are theft or embezzlement, lying on financial documents, or bribes and kickbacks. It’s possible that a suspicious act may be merely a miscalculation or unintentional flaw, so investigating your suspicions before rushing to conclusions is critical. Contrary to popular belief, lawsuits coupled with insurance claims aren’t always the quick fix they may […]

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julio 2, 2021
Control Account: Understanding its Role in Financial Management

But they also give a business other advantages, such as permitting a single trial balance to be extracted from the general ledger. If the trial balance does not actually balance, only the accounts whose does not reconcile need to be checked for errors. Used primarily in larger businesses that are still using manual ledger […]

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