Challenges of the Budget Session and solutions for improvement
When you are making a budget for your own family, it's easy. But things can get a little more complicated if that budget is for your business and many people…
What Is an Audit?
The word “audit” can be thrown around a lot in casual conversation. When an accounting professional uses it, it means something very specific. We’ll discuss this and other uses of…
The Accounts Payable Process
All businesses, no matter their size, have bills to pay. The larger the business, the more formal the accounts payable process tends to be. That doesn’t mean small business owners…
Understanding Equity on the Partnership Balance Sheet
The equity section of a business’s balance sheet is the most difficult part to understand. The accounts that make up that section vary depending on the type of entity in which the business is structured. In this article, let’s take a look at what the equity section looks like for companies that are organized as partnerships.