Reconciliation statement definition

When your business receives cheques from its customers, such amounts are recorded immediately on the debit side of the cash book. Such a time lag is responsible for the differences that arise in your cash book balance and your passbook balance. Typically, the difference between the cash book and passbook balance arises due to the […]

Outsource Bookkeeping: 6 Benefits, Types & Process

CPA [Certified Public Accountant] firms have high responsibilities in terms of accounting. They strive to achieve the financial goals of the businesses and individuals in a very systematic way. One of the non-core and important tasks of the CPA firms is bookkeeping activities. This activity forms the base of the CPA firms where the other […]

Shares vs Stocks: Understanding the Difference

Though both common and preferred stock represent ownership in a company for an investor, they’re two different types of investments with differing risks, returns and purposes. Share capital is the funding a company has raised through issuing common or preferred stock. Authorized share capital is the maximum amount of share capital a company is allowed […]