Category: Accounting
-
What is a Capital Account in Accounting? Examples and Importance
For any business, anything that contributes to the generation of value, including intellectual, financial, social, or physical, is known as capital. Capital is the foundation for your business’s financial health and success. It is fundamental to all your financial transactions and decisions that not only allows you to cover your day-to-day expenses but also measures…
-
What is an Asset Account? Examples and Importance in Accounting
Asset account is a subcategory within a company’s general ledger depicting the value of assets owned by an organisation. The assets owned by an organisation represent economic value and are expected to provide benefits in the future. For businesses, these assets also find their way into the balance sheet, and for them, they also generate…
-
What are the Liabilities in Accounting? A Comprehensive Guide
Even though no business likes to be in debt, it’s an unavoidable part of the process. What we call debt, accountants call liabilities in their accounting books. If debt is there, it’s essential that accountants can find and record it in the books. This guide is dedicated to sharing all the information you need to…
-
Free Accounting Applications: Do They Meet Business Needs?
Businesses require constant development and innovation to keep them thriving. And make sure their entire focus is on product development, customer satisfaction, and operation. Accounting should be the last of their problems to deal with personally. They already have so much on their plate to deal with. It takes away a lot of attention and…