Definition of Personal Finance and it’s Importance

Personal finance is the process of planning and managing personal financial activities such as incomeAnnual IncomeAnnual income is the total value of income earned during a fiscal year. Gross annual income refers to all earnings before any deductions are made, and net annual income refers to the amount that remains after all deductions are made.…

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Complete List of the Top Accounting Softwares Available

There is a vast array of accounting softwares and financial management solutions, sometimes called bookkeeping software, on the market today, with specialized functionality for almost any industry or size of organization. Moreover, the specific type of accounting can differ between programs—project, fund and fixed asset are examples.Add to this variety the constant change of standards,…

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Definition and Importance of Accounting

photofriday / Getty Images A strong company can attribute some of its success to its accounting. Without accounting, it would be hard to keep track of your business’s finances and profitability, and you might not know exactly how much money is coming in or going out.Accounting is how finances are tracked. As an individual, you…

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The Importance of Stock Exchanges

A stock exchange does not own shares. Instead, it acts as a market where stock buyers connect with stock sellers. Stocks can be traded on one or more of several exchanges such as the New York Stock Exchange (NYSE) or the Nasdaq. Although you will most likely trade stocks through a broker, it is important to…

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Definition and Types of Financial Statements

Financial statements are written reports prepared by company’s management to present its financial affairs in a given period (quarter, six monthly or yearly). These statements include Balance Sheet, Income Statement Cash Flows and Shareholders equity statement and are to prepared following prescribed and standardized accounting principles so that the reporting has harmony at all levels.Financial…

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How and Different Ways to Interpret Financial Statements

Financial statements are written records that convey the business activities and the financial performance of a company. Financial statements are often audited by government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing, or investing purposes. Financial statements include:Balance sheetIncome statementCash flow statement. Financial StatementsInvestors and financial analysts rely on financial data to…

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What is the Meaning of Business Finance

Business Finance means the funds and credit employed in the business. Finance is the foundation of a business. Finance requirements are

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The Definition, Types and Importance of Finance

What is Finance? Finance is defined as the management of money and includes activities like investing, borrowing, lending, budgeting, saving,

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4 Ways on How to be More Productive

Speaking about how to be more productive, everyone assumes that being more productive is simply about getting more done in

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Important Reasons Why Personal Finance Helps in Managing Money

Do you know why personal finance is so important? Here are the nine reasons why you need to manage your money.Table of ContentsWhy is personal finance important? Have you ever sat back to think why personal finance is such an essential aspect of your life? Well, sometimes we are so caught up in the daily…

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Meaning of Balance Sheet – Format, and Example

Balance sheet (also known as the statement of financial position) is a financial statement that shows the assets, liabilities and owner’s equity of a business at a particular date. The main purpose of preparing a balance sheet is to disclose the financial position of a business enterprise at a given date. While the balance sheet can…

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Definition and Importance of Record keeping

Home » Accounting Dictionary » What is Recordkeeping?Definition: One of the main parts of accounting is recordkeeping or bookkeeping. Recordkeeping is the process of recording transactions and events in an accounting system. Since the principles of accounting rely on accurate and thorough records, record keeping is the foundation accounting.ExampleAn example of an accounting event would…

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8 Time Management Tips you need to be Successful

Time Management is very essential in everyone’s one. We all have 24-hours in a day. But, why does it seem

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12 Things You Need to Know About Financial Statements

Knowing how to work with the numbers in a company’s financial statements is an essential skill for stock investors. The meaningful interpretation and analysis of balance sheets, income statements, and cash flow statements to discern a company’s investment qualities is the basis for smart investment choices.However, the diversity of financial reporting requires that we first…

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The 5 Types of Financial Statements

Post Views: 16,972Overview:Financial Statements are the reports that provide the detail of the entity’s financial information including assets, liabilities, equities, incomes and expenses, shareholders’ contribution, cash flow, and other related information.These statements normally required annual audits by independent auditors and they have presented along with other information in entity annual report.They are presented in two…

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5 Top Most Profitable Jobs in Nigeria

With the increasing rate of economic recession in the country, there is no doubt that there are certain jobs in

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How to Produce Your Best Work

Are you looking to become more productive and/or get things done?Do you want to produce quality work of which you can be proud?In this post I offer a few tips to help you produce solid, quality work that will make your heart sing.Know how you work.It may seem a bit clichéd, but knowing how you…

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