The single most important financial figure you should be looking at each month…
Have you heard of the word ‘EBITDA’? If no, that is ok. We totally understand that as business owners and entrepreneurs, we are busy with our main line of business...[Read More]
Legal unpaid obligations due within a year will be classified as current liability. Usually, they appear as accrued legal liability or similar.
Also, many times if the expenses were incurred during the financial period but not yet billed, they are classified as accrued legal liab...[Read More]
As a new business owner, you have to wear so many hats and manage various functions of your business. One such function is accounting and maintaining your books. By following a healthy practice of regularly recording and storing relevant records for valid business purchases, you will find it lot ...[Read More]
What is US GAAP - Generally accepted accounting principles?
US GAAP- Generall accepted accounting principles are set of accounting standards/principles adopted by the professional accounting industry.
These accounting standards, rules are establi...[Read More]
US GAAP- Computer costs and accounting treatment
All computer costs incurred in creating software product are R&D costs. All Research and development costs are expensed.
Technological feasability is an important c...[Read More]