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How to Understand Fiduciary Income Tax

Taxation is the privy source of revenue most government depend. And with the diversity principle of taxation, understanding what fiduciary task is may help determine the impact and effect of the tax payable.  Fiduciary income tax is a tax type that reports estates trusts and the...
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financial statements

A guide to understanding your financial statements

Financial statements are more important that you really think. It’s the scorecard of your business, and whenever you’re a small or large business owner, you need to read, analyze, and understand your financial statements so you can get an accurate findings of your finances. This...
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Auditing: Understanding the Process of Audit Validation

Audit validation is an important process that ensures the different variables that determine the audit process, method and materials  used in the process of auditing process are well sourced and they are the truly ones that have been used in the conduction of the business deals....
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Why is Business Capital considered as a Special Liability?

The simple definition of capital is that capital is the owners claim in the business. We usually expect that since capital is money that we input to start a business the same should be viewed as an asset. But that not the case in accounting, while recording the different type of...
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Approaches to Human Resource Audit

Human resource audit has evolved over time and expanded as it is not only used in decision making, but also as an instrument of control in personnel related matters. Several approaches have been brought forward to evaluate the effectiveness of the hr function. Previous scholars...
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How to prepare a Balance Sheet?

The balance sheet is a statement that highlights the financial position of a company at a given date or time. Mostly balance sheet is prepared on a yearly basis, but the preparation of the balance sheet solely depends on the policies set for the company. Steps to prepare the...
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accounting cycle

Bookkeeping for Beginners – Master the Bookkeeping Terms

Accounting can be a pain in the ass. Sometimes you don’t know where to record given transaction. Should I debit or credit? Your accounting teacher expects that you understand what debiting and crediting is and at that time you float the whole of the lesson. The Bookkeeping Terms...
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tax preparation services

The Steps for Ultimate Tax Preparation

Different individuals use different methods to prepare as well as submit the tax returns to the government. However, there are times when individuals are caught up in other process and file to prepare for the same in advance. Before meeting your tax application, you need to: 1....
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Top-rated Tax Softwares that can help in the Taxation Process

Tax preparation can be a hefty thing for you. But with the use of technology, the later can be easily dealt with. There are a lot of programs and software’s to use not to mention to just choose from. Some of the software publishers may be free to use while you need to subscribe...
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What are the benefits of IT Auditing?

With the current digitized word, the use of computers has become prevalent in almost all sectors of our life and economy to begin with. With this comes voluminous problems in that cybercrimes have taken advantage of the prevalence in the use of computers to enrich themselves with...
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