Bookkeeping is the recording of financial transactions and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation.
Accounts payable is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents.
Reconciliation is an accounting process that uses two sets of records to ensure figures are correct and in agreement. It confirms whether the money leaving an account matches the amount that's been spent, and making sure the two are balanced at the end of the recording period.
Financial statement analysis is the process of reviewing and analyzing a company's financial statements to make better economic decisions.
Accounts receivable is a legally enforceable claim for payment held by a business for goods supplied and/or services rendered that customers/clients have ordered but not paid for.
Information from your accounting journal and your general ledger is used in the preparation of your business's financial statements: the income statement, the statement of retained earnings, the balance sheet, and the statement of cash flows.
In essence, the payroll management process refers to the administration of an employee's financial records which includes the salaries, wages, bonuses, deductions, and net pay.
A financial statement audit is the examination of an entity's financial statements and accompanying disclosures by an independent auditor. ... Similarly, lenders typically require an audit of the financial statements of any entity to which they lend funds.
Management reporting systems capture the sorts of data needed by a company's managers to run the business. The sorts of financial data that are presented in annual reports typically are at their core.
In business, a due diligence audit is basically a careful investigation into the complete financial picture of a company. Generally, these audits come before a purchase, merger or other major decision that could negatively influence the finances of one or more businesses.
An audit is an objective examination and evaluation of the financial statements of an organization to make sure that the records are a fair and accurate representation of the transactions they claim to represent.
A corporate tax, also called corporation tax or company tax, is a direct tax imposed by a jurisdiction on the income or capital of corporations or analogous legal entities.
A financial transaction tax is a levy on a specific type of financial transaction for a particular purpose. The concept has been most commonly associated with the financial sector.
Tax information reporting in the United States is a requirement for organizations to report wage and non-wage payments made in the course of their trade or business to the Internal Revenue Service (IRS).
An indirect tax is a tax collected by an intermediary from the person who bears the ultimate economic burden of the tax.
Project finance is the financing of long-term infrastructure, industrial projects, and public services, based on a non-recourse or limited recourse financial structure
Tax planning is the analysis of a financial situation, or plan, from a tax perspective. The purpose of tax planning is to ensure tax efficiency.
Wealth management is a practice that in its broadest sense describes the combining of personal investment management, financial advisory, and planning disciplines directly for the benefit of high-net-worth clients.
Goods and Services Tax (GST) is a multi-stage consumption tax on goods and services whereby each point of supply in a production chain is potentially taxable up to the retail stage of distribution.