Every accounting team should have a documented month-end close checklist to follow month in and month out. This is one of the most repetitive processes you’ll go through — but you can’t get complacent and let the small details slip. The entries in your financial statements must match the entries Read more…
Smaller businesses with straightforward transactions might find cash basis accounting more manageable initially. However, as a business grows and transactions become more complex, accrual accounting becomes increasingly beneficial for better financial management and reporting. Regulatory requirements accounting also play a role; public companies are generally required to use accrual accounting. Read more…
Unlike industries with consistent day-to-day operations and predictable costs, construction companies grapple with a complex array of challenges. Long-term contracts are a common aspect of construction companies, shaping their financial landscape and project execution. These contracts typically span extended durations and involve substantial commitments between the construction firm and the Read more…