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Written by- Nivedita Verma for SKB Accounting Do you have a brilliant money-making business idea but lack the knowledge on how to move forward with it? Or do you have a plan but lack market knowledge? It is high time…

Written by- Nivedita Verma for SKB Accounting QuickBooks has been the accounting partner of many firms since 1983 and it has been evolving ever since to provide the best features to its users. With the rapid advancements in technology, QuickBooks…

We all know how different accounting considerations are important for different modes of businesses, right? However, when you talk about a law firm, the considerations needed to be made might be a bit “too” different from the rest, owing to…

The practice of accounting is pretty much standardized, but when it comes to the important indicators for different kinds of businesses, there ought to be a difference, right? What might be an important consideration for one kind of business might…

The two most commonly used techniques for the valuation of inventory are the FIFO and LIFO methods of accounting. The difference between the two is simple, no doubt, but the fact remains that your choice will have serious implications on…

During times of inflation and rising prices, businesses benefit not only from the additional business but the receipts that they receive for their business offerings. In short, a business’ profitability improves, more or less. However, with the increasing profitability comes…

Business models of companies that offer software as a service (SaaS) vary greatly from those  of other businesses. It’s important, for smaller or new companies to understand the important aspects of such a business, so that they may start off…

The formats of financial statements are, pretty much, standardized for most types of businesses. However, when it comes to the importance of different accounting heads for different kinds of businesses, it’s a different story altogether. What this means is that…

Gone are the days when businesses needed to have big accounting departments to cater to all of their accounting needs manually. In the contemporary age, there are a number of good accounting software programs available for businesses to make use…

Dealing with costs is part and parcel of running a business. However, businesses should know that not all costs are visible, meaning that there are a number of small costs that might appear to be harmless on paper but affect…

Among the several methods of costing available for businesses to choose from, standard and average costing are the most popular. However, when choosing between the two, it’s imperative to make some key considerations. Here are a few differences between standard…

Balance sheets present a holistic view of the financial standing of a business. However, it is easy for this holistic view to point in the wrong direction, owing to how small misstatements, in this regard, can lead to much larger…

Have you recently gotten your small business setup underway. If the answer is yes, then you should know that your accounting department will be of utmost importance. Bearing that in mind, here are some of the accounting needs that your…

When you speak of business growth in the contemporary world, there are certain internal factors which have become exceedingly important, with the passage of time. Among these; business integration has grown in importance very rapidly. Here are some of the…

We provide accounting / bookkeeping services to our clients to ensure organizational efficiency resulting in measurable performance improvements. Our advanced technology, seamless process and a team of highly skilled people, reflect our passion

Between mortgages, car loans, credit cards, and student loans, most people are in debt. While being debt-free is a worthwhile goal, most people need to focus on managing their debt first since it’s likely to be there for most of…

The US Office of Management and Budget (OMB) announced the finalization of a new regulation impacting small nonprofits. OMB announced the finalization of new regulations increasing the audit threshold from $500,000 to $750,000 in annual Federal funding and setting a…

If you own a business, one of the most important things you should do is to keep careful track of your expenditures and income. This is not only necessary to keep your business afloat financially, but also is an important…

Here’s 10 reasons why you should be using QuickBooks…. You save time on bookkeeping and paperwork because many of simple bookkeeping tasks are handled automatically making it easier to run your business.

Ratios act as a useful tool to measure business performance. Ratios are a quotient of two numbers and the relation expressed between the two accounting figure is known as ‘Accounting Ratio‘. There will be a natural difference between ratios according…