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Business Accounting and Financial Accounting

Difference between Business Accounting and Financial Accounting

Business Accounting vs Financial Accounting Accounting has been here for a very long time, starting from the time of Sumerians. From large to small companies, businesses, and other markets, accounting runs them all. Accounting is a huge and evolving field and in terms of...
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accounting and bookkeeping

What is the Difference between Accounting and Bookkeeping?

Accounting vs Bookkeeping Without knowledge of the differences between accounting and bookkeeping, these two terminologies have been mistaken to mean the same thing. First, the meaning of the two terms sets each apart though they work hand in hand (both of them are very essential...
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Professional Accounting Firm

How to Find a Professional Accounting Firm?

Things to know about Professional Accounting Firm Thinking about introducing accounting in your business is an easy task but getting an accounting firm that suits your need is the challenging part. Lucky for you, here you will get to know all there’s to know about accounting and...
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Forensic Auditor

What is the role of Forensic Auditor?

Roles and Responsibilities of Forensic Auditor If there’s a case in a court concerning funds/money, for an evidence to be found, a forensic auditor is called to carry out the investigation. Well, from this, you might be now having a clue about what a forensic audit is all about....
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Difference between IFRS and GAAP

What is the difference between IFRS and GAAP?

Main Difference between IFRS and GAAP In accounting, there are 2 commonly used methods: The International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (GAAP). The IFRS method is commonly used in many countries around the world, while the...
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Double Entry Accounting System

What are the Double Entry Accounting System and its Examples?

What is Double Entry Accounting System? The double entry accounting system, also known as bookkeeping is defined as a business transaction that involves two accounts or more. This transaction happens when a company or a business borrows money from its own bank, the company’s cash...
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bookkeeping system

Types of Bookkeeping System for Small Business

Bookkeeping for Small Business Bookkeeping is essential to every business, as it involves recording all of the business financial transactions. With accurate and timely bookkeeping, business owners are able to track their transactions to make effective financial and business...
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business-accounting-benefits

6 Benefits of Business Accounting

Accounting is the language of business – just from that statement, you can say that accounting has a vital role in every business. Many business owners have decided to invest time and money in their accounting for the growth and improvement of their business. But why Business...
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business-accounting

The Basics of Business Accounting

Every business owner has a knowledge of accounting– maybe not all but its basics. Running a business involves buying, selling, banking and taxes and to be able to perform this, one must know even just the basic principles of accounting. Below are the common and important...
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CPA Firms vs Outsourced Accounting Services

CPA Firms vs Outsourced Accounting Services? Who is better?

Maintaining a well-managed accounting is very vital in every business, no matter how big or small it is. A well- managed accounting means that you can monitor your profit, grow them and make effective financial and business strategies. There are two ways that businesses use in...
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