Bookkeeping

Already, 67% of respondents in our State of AI survey said they are currently using machine learning, and almost 97% plan to use it in the near future. Among executives whose companies have adopted AI, many envision it transforming not only businesses, but also entire industries in the next five years. For Chase, consumer banking represents over …

AI has started a financial revolution here’s how World Economic Forum Read More »

Secure cloud accounting solutions allow the creation of workflow and save valuable business time. With accounting automation, business arrives at a data-given decision quickly. Gone are the days of manual data entry and inefficient processes in the industry. To keep up, you need to make this trend part of your strategy in your firm for …

8 Types of Accounting: Careers, Degrees, and Salaries Read More »

For example, amid all the turmoil in crypto, dedicated teams inside financial services firms and fintechs are quietly going about their business rolling out blockchain-based products that solve real-life problems. Distributed ledger technology (DLT)–enabled tools are live in bonds, structured products, equities, repo markets, life insurance, mortgages, annuities and healthcare claims. Bloomberg released training results …

Artificial intelligence in financial services Deloitte Insights Read More »

The current ratio uses all of the company’s immediate assets in the calculation. The main problem with relying upon current assets as a measure of liquidity is that some of the accounts within this classification are not so liquid. In particular, it may be difficult to readily convert inventory into cash. Thus, the contents of …

What is a current asset? Read More »

At the top of the spreadsheet, it shows the total of Debits and Credits for all the accounts. This initial transaction demonstrates that the corporation has established a liability to pay the expense and an expense. No matter the account, the debit side is always on the left, and the credit The Best Guide to …

T Account Template Explanation, Examples And Downloads Read More »

At some point, the cost to your business in terms of lost growth opportunities becomes immeasurable. That’s when you know it’s time to outsource your accounting function. Small businesses that want to get to the next level need to have a firm grasp of their finances and the capacity to plan for growth. Pilot also …

Best Virtual & Outsourced Accounting Services 2023 Read More »

Whether your company is marketing commercial products or selling to the Government, warranties are an important ingredient to competitive success. Effective warranty planning can ensure success, but lack of attention to cost analyses can spell disaster. This article is intended to introduce the basics of warranties and to identify sources for more information. At the …

Fixed Assets Warranty Accounting Read More »

But before we dig into those ideas, let’s talk about what day-to-day work looks like for an accountant. Learn about accounting basics how developing an understanding of your business’s accounting will allow you to grow better. Going Concern does share articles about regulations but is more focused on the trends and scuttlebutt within the industry. …

Implementing charity tax exemptions Read More »

You’ll want to record your cash transactions in a number of different ways, depending on the nature of your business. Let’s assume that a valuable employee’s car requires an emergency repair of $800. The employee is unable to pay for the repair and has no other means for getting to work. The company agrees to …

Miscellaneous Cash Advances Accounting and Financial Reporting Read More »

So, for example, if you become delinquent on a credit card, your creditor may have three years to collect. They may have four years or five years to collect on unpaid medical bills or a bad car loan. If you have an account charged off as bad debt, you’re still legally responsible for paying it. …

Write Off Accounts Receivable Journal Entry Examples Read More »