What Is Accrual Basis Of Accounting?

Accrual basis is one of the widely used bookkeeping systems in many finance departments. It involves the recording of financial transactions minus the actual transfer of cash. Meaning it relies on the income statements released on revenues earned and the expenses incurred. More similarly, it gives financial statements as to its alternative, cash basis. The […]

The Big 4 Accounting Firms

The Big 4 refers to the world’s largest certified public accounting (CPA) firms dealing in auditing and accounting services. Like their nickname, The Big 4, they are 4 in number; Deloitte Touche Tohmatsu, PricewaterhouseCoopers, KPMG, and Ernst & Young. These firms offer wide-ranging auditing and accounting services comprising; External audit Management and business consultancy Taxation […]

What Is Accounting Equation?

The accounting equation, also known as the balance sheet equation, is the elementary equation purposeful in double-entry accounting. When starting a business, there are always these three parameters you consider first, assets, liabilities, and equity. Each of these contributes significantly towards indicating the financial progress of your enterprise – whether you are making profits or […]