Understanding Revenue Recognition Methods in Accounting

While accounting methods are used for many different entities, they can be complex. It can be hard to know which one is right for you to use in your business. When it comes to revenue recognition methods there are key methods that we will address in this post. Utilising various revenue recognition method of accounting, you can customise it to fit your needs. A business changes over time, and the method you use needs to continue to be valuable when such changes are implemented. Make sure the system you rely on allows the business to ...Read More

4 Tips to Become an Accountant Without a Degree

If you want to pursue an accounting career and are wondering about whether you can become an accountant without a degree, the good news is that various options are available for aspiring accountants. Accounting jobs continue to be among the top employment opportunities in the industry. Fortunately, for jobs such as auditing, bookkeeping and clerical work, a degree is not a mandatory requirement. While many people may perceive accounting as a complicated career that requires several years of studying, in reality you do not have to attain a degree in order to become a qualified ...Read More

December 7, 2020|Accounting in Practice, Guides|

4 Steps to Analyse Cash Flow Statement

You may heard experienced investors say “it is all about the cash flow”. Analysing cash flow statement is an important skill. In fact some investors do not even want to look at the income statement as a performance indicator and just analyse the cash flow statement. Before jumping into the steps to analyse cash flow statement, here is a quick recap about it. You can skip this part and dive in to the 4 steps if you already know about it.   Quick Recap A cash flow statement describes how the actual cash is moving ...Read More

Recording Investment Transactions – 3 Accounting Practices

Investing has been very common nowadays;  the ease of access through the online trading and brokerage tools influenced how much we invest. Now more than ever, it became important to understand the ways of recording investment transactions for businesses and investors. To record your investment transactions, you use the equity method, available for sale, held for trading, and fair value through profit and loss. Each method will depend on the size of the investment you made.   Why are there Many Methods? The reason is because each business has different goal when holding their investments. ...Read More