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A journal entry is a record of every transaction that takes place within an accounting system. It is the end result of all transactions that take place in an accounting system.   What is a Journal Entry in Accounting? A journal entry in accounting is a record of a financial transaction that has taken place.

In this article, we will be breaking down the financial statement in accounting analysis and how to interpret it. What to look for and how to analyze the financial statements. Learn how to read a financial statement like a pro. Financial statement analysis is the process of evaluating a company’s financial statements to determine their

The “Cost of Goods Sold” is a very important accounting concept. What is the Cost of Goods Sold? How to calculate the cost of goods sold? Learn more about the cost of goods sold. Understand how to calculate it and how to use it. Read our ultimate guide to COGS for beginners! When you are

If you are a Filipino accountant, you need to read this! These are the top 12 tips for developing excellent soft skills for accountants in the Philippines. Want to become a better accountant? Read these tips and improve your soft skills for accountants. As a professional in the accounting field, Filipino accountants must have strong,

So you’ve decided to incorporate your business. Congratulations! But before you do, you need to make sure you don’t incur any common accounting liabilities. In this article, we will discuss what accounting liabilities are, how to record them, and eleven tips for beginners to help them understand the concept. What are Accounting Liabilities? An accounting

Many accountancy students are asking questions if an account receivable credit or debit. Accounts receivable and accounts payable are two financial statements that many small businesses need to keep track of. In this article, we will look at the differences between these two financial statements.   What is an Account Receivable? Account receivables are a