Financial Statements
What Are Financial Statements? Financial statements are official records that present the financial activities and condition of a business in a structured, easy-to-understand format.They are the foundation of business reporting and help business owners, investors, lenders, and other stakeholders evaluate a company’s financial performance, strength, and direction. They show: Without accurate financial statements, businesses would […]
Read More
Entries
What Is a Ledger? In accounting, a ledger is the complete, detailed record of all financial transactions carried out by a business, arranged by account. Think of it as the master book where all financial activities are systematically logged, categorized, and totaled. Ledgers are used to track the flow of money, monitor the company’s financial health, and […]
Read More
Bookkeeping
What Is Bookkeeping? Bookkeeping is the systematic process of recording, organizing, and maintaining the financial transactions of a business on a daily basis.It involves capturing every monetary event — whether it’s a sale, a purchase, a bill payment, or a receipt of income — in a structured and accurate manner. At its core, bookkeeping answers a critical question for […]
Read More