Quickbooks is one of the most popular names in the world of accounting applications. The product has been designed to take care of all accounting needs of a business, giving customers a choice of choosing between software based or cloud based systems, in accordance with their unique requirements. But is getting Quickbooks worth it, or is it just another fancy cost?
Here are a few reasons why your business needs Quickbooks:

We’re heading into a world that will be dominated by smart devices relying on the Internet of Things (IoT) to share massive amounts of data in real-time. As a business owner, you need to be able to quickly access your business’s financials to make more informed decisions. If you are planning for the long-haul, where you always remain on top of your business financials, then you need accounting applications like Xero. Here are a few reasons why you, too, need Xero:

Standard costing is one of the most commonly used costing systems in the world of management accounting. When you consider all of the advantages that standard costing has got to offer, you’ve got to say that the preference appears to be well justified. Here are some of the proven advantages that standard costing has got to offer to your business:

This post will state and define all the fundamental concepts you should know before you pick an income statement, and which you must know to be able to make sense of it. Before we talk about the different heads of the income statement, it is necessary to know what period is the income statement for. This period will most likely be for one financial year. This will always be mentioned on top of the Income Statement.

Among the Intelligence Reporting solutions that are available for businesses to choose from, the Sage Evolution Intelligence Reporting system is definitely among the most popular. Here are a few reasons why:

There are two main methodologies that are employed for the determination of the cost of production and the value of inventory: Marginal Costing and Absorption Costing. Both of these methods have got their advantages and disadvantages, an account of which has been provided below: