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What’s Changing?For the first time in over three years, the IRS has issued lower auto depreciation limits. This change affects business owners, self-employed professionals, and companies that use vehicles for work-related purposes. The adjusted limit...

As business professionals, we’re all familiar with the usual suspects when it comes to financial metrics. Whether it’s return on investment (ROI), gross profit margin, or debt-to-equity ratio, these numbers are the bread and butter of financial analy...

Virtual Reality (VR) has already made waves in industries like gaming and entertainment, but its potential in education—especially in finance and accounting—remains a largely untapped opportunity. VR provides a unique, immersive learning experience t...

Financial statement analysis is like trying to solve a Rubik’s cube—just when you think you’ve got it, a twist in the numbers can throw you off entirely. The key is to avoid the common pitfalls that can lead you to misleading conclusions. Let’s dive ...

The cash conversion cycle (CCC) measures how quickly a company can convert its investments in inventory and other resources into cash flows from sales. Shortening the CCC can improve a company's liquidity and efficiency.The cash conversion cycle dire...

Return on Assets (ROA) is a crucial metric for any business, measuring how effectively a company uses its assets to generate profit. Improving ROA can be a game-changer, and as a manager, there are strategic moves you can make to optimize this metric...

In recent years, the accounting profession has undergone a significant transformation, largely driven by technological advancements. One of the most notable trends in this transformation is the increasing use of robots in accounting processes. These ...

Bookkeeping is a crucial aspect of running a business, but it comes with its challenges. Here are the five biggest challenges in bookkeeping and how to handle them:1. Accuracy: To ensure accuracy, implement robust double-entry bookkeeping practices. ...

Accrual basis accounting and cash basis accounting are two primary methods used for recording financial transactions, each with distinct advantages and limitations.Accrual basis accounting recognizes revenue and expenses when they are incurred, regar...

Accounting and football may seem like unrelated fields at first glance, but upon closer examination, surprising similarities emerge. Both disciplines require teamwork, strategy, precision, and a keen understanding of the rules. Here are five ways in ...

The Balance Sheet and Income Statement are fundamental financial statements that provide distinct yet complementary insights into a company's financial performance and position. These documents play a crucial role in financial reporting and analysis,...

The term “articulation” doesn’t really sound like an accounting term. However, understanding articulation is key to understanding accounting and dare I say the key to understanding business. Yes, it is that important in business!The quick answer to w...

Income Statement AnalysisThe objective of accounting is to provide outsiders, such as investors or lenders, some information on the strengths and weaknesses of the business. This is accomplished by offering financial statements. Since investors and l...

               It is often overlooked that the reports made by accountants are not made FOR accountants. Which is why understanding financial statements should definitely NOT be a job for the accountant but instead for the business person. Whether th...

Financial statements are provided to allow people outside of the company to better understand the strength, profitability, and risk of the company. The balance sheet is one of the key reports used for financial analysis of any company.The balance she...