Uses of Audited Financial Statements

There are many uses of audited financial statements. Some of the common uses include submitting to the relevant authority such as company commission and tax offices. These are the two interested parties of these statements. Other interested parties include investors, creditors of the company and shareholders as well. So, what are the purposes of audited […]

How to Evaluate Your Finance Department

Nobody knows your business better than you do. After all, you are the CEO. You know what the engineers do; you know what the production managers do; and nobody understands the sales process better than you. You know who is carrying their weight and who isn’t. That is, unless we’re talking about the finance and […]

Understanding Financial Statements

Financial accounting’s focus is on the financial reports distributed to people outside of the company. The major component of financial reporting is the financial statements: income statement, balance sheet, statement of cash flows, and the statement of stockholders’ equity. The income statement indicates a company’s profitability during a specified time period such as one year, […]

The Advantages and Disadvantages of Corporate Financial Reporting

Corporate Financial Reporting is part of corporate reporting that consists of financial statements and accompanying notes that are prepared in conformity with Generally Accepted Accounting Principles (GAAP). The financial statements are summaries of business transactions during the financial year of the corporation. The business world has many forms of organizations ranging from the for profit […]

Forex Trading for Total Beginners

Stock investment, binary options, and foreign exchange (Forex) trading – these are some of the popular ways of generating additional income aside from choosing the traditional ways (building a small business or applying for a part-time work). Which do you prefer? Oh, so you’re already familiar with stock investment and binary options. You don’t mind […]

What is Freight Management?

As a business owner, you would not agree to make a purchase that could impact your profitability without first understanding the cost associated with that purchase. Likewise, it is important to know and understand the true freight cost of shipping products and goods. Awareness of shipping procedures and rates can help prevent wasteful spending. However, […]