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A balance sheet is an essential way to evaluate a business’ financial health, and can be calculated every month, quarter or half-year to create a snapshot of a company’s net worth. Creating an annual balance sheet will help you to Evaluate the equilibrium between your company’s assets against its liabilities. Determine the overall financial strength and value of …

Accounting can offer a rare combination of stability, prestige, money, and excitement. Modern-day accountants are business-savvy individuals who are effective communicators and heavy users of technology. An accountant’s job is more than keeping the financial books of a company or individual in order. They are the custodians of a business’s or public entity’s overall financial …

A lot of businesses go through bankruptcy and liquidation due to their improper accounting practices. An accountant plays an important role in an organization since money management is one of their key roles in addition to keeping proper accounting records for each and every activity. Preparation and presentation of financial statements follows a number of …

A recent survey has shown that 71% of small businesses are currently using the services of an outside accountant and 66% began using them during the start-up phase or within six months of establishing the organization. Larger companies often have in-house accountants; however, this is an expense that most small businesses cannot afford. Of course the …

Wondering why you should use a Dublin-based accountant? Here are 10 excellent reasons why you should use a Dublin accountant for all of your business accounting needs: 1. An experienced and qualified accountant knows what he/she is doing and understands the accounting framework, concepts and principles which are essential to preparing your annual business accounts. 2. An accountant …

Most small business owners have a number of tasks on their plate each day in order to help the company stay successful. And I’d bet that accounting and bookkeeping is nowhere near the top of this list in terms of enjoyment factor. A solution that many small businesses are starting to use is online accounting software, …

If you already use accounting software on a desktop PC you’re probably wondering what makes online accounting software so different.   Online vs On Your Desk  The biggest difference between desktop software and online software is where the software is located. Desktop software runs on your desktop or laptop computer (no surprises there). Online software …

Due to the increases in the audit exemption thresholds over the years, many companies may not have had a statutory audit for some time, if ever. However, it may be worth considering whether an audit would be of benefit to your business. The process can provide valuable feedback on the effectiveness of your company’s internal …

What is internal audit? The role of internal audit is to provide independent assurance that an organisation’s risk management, governance and internal control processes are operating effectively. What do internal auditors do? Internal auditors have a professional duty to provide an unbiased and objective view. They must be independent from the operations they evaluate and …

Whether you’ve landed your first part-time job school or made your first career move after college, odds are that you haven’t taken a class on how to file your taxes. It’s something everyone is not only expected, but required to do; however, we’re not often sat down and taught the basics. If you’re feeling confused and …