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Smart Ways to Invest Money

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.Investing money in the stock market is the number one way…

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The Ultimate Guide to Accounting Basics

In college, I started a local consignment business. It was very different from my freelance writing business for a few key reasons: I had employees, I had physical products (which meant a physical store and check-out process), and I had a different legal business entity.I had some experience under my belt from running my freelance…

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4 Types of Financial Statements

DefinitionFinancial Statements represent a formal record of the financial activities of an entity. These are written reports that quantify the financial strength, performance and liquidity of a company. Financial Statements reflect the financial effects of business transactions and events on the entity.Four Types of Financial StatementsThe four main types of financial statements are:1. Statement of…

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How to Prepare for a Successful Job Interview

Now that you have a job interview, there are certain things you will want to do in advance to prepare

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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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Meaning of Business Finance: Advantages and Disadvantages

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? The importance of finance cannot be overemphasized, Finance is defined as the management of money and includes

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4 Ways to be More Productive to Accomplish More

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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