Bookkeeping Words

Accountants not only record financial transactions but also analyze, interpret, and summarize these financial records. Accountants are tasked with generating financial statements, conducting audits, and providing financial insights that support strategic decision-making. The educational and certification requirements for bookkeepers and accountants also differ significantly. A bookkeeper is a financial professional who is responsible for recording and maintaining the day-to-day financial …

Retained Earnings: Calculation, Formula & Examples

Please visit the Deposit Sweep Program Disclosure Statement for important legal disclosures. If you are your own bookkeeper or accountant, always double-check these figures with a financial advisor. During the Covid-19 pandemic, many companies reduced their dividends or canceled them altogether. Hence, capable management knows to properly balance these various options for the ultimate benefit of the company. There’s almost …

Cost-Benefit Analysis: Definition, Steps, and Examples

An advantage of cost-benefit analysis is that it allows for a mostly quantitative analysis so that an individual or organization can make the best-informed decisions. Since no individual or organization has unlimited resources, cost-benefit analysis helps determine the optimal resource allocation. For a company to create value for its stakeholders, it must invest in beneficial projects. After a thorough consideration …

Invoice and Accounting Software for Small Businesses

Quality management ensures that the construction meets or exceeds the required standards and specifications through quality planning, assurance and control. Leveraging technology can significantly enhance project management efficiency. Construction management software offers tools for scheduling, budgeting, communication and documentation. Implementing the right technology streamlines processes, facilitates better communication and offers real-time insights into project progress. Effective planning and scheduling are …