by Online Tutorial & Training Guide | Oct 20, 2025 | Internal Controls & Compliance, Terminologies
An independent examination of financial statements by a third-party auditor. Provides assurance to investors, creditors, and regulators. Required for public companies and many large entities.
by Online Tutorial & Training Guide | Oct 18, 2025 | Financial Statements, Terminologies
Reports the inflows and outflows of cash from operating, investing, and financing activities. It explains why net income may differ from cash position. Vital for understanding liquidity and sustainability.
by Online Tutorial & Training Guide | Oct 17, 2025 | Chart of Accounts, Expenses, Terminologies
Covers landline, mobile, and data communication costs. Increasingly includes VoIP and internet-based communications. Supports day-to-day operations.
by Online Tutorial & Training Guide | Oct 16, 2025 | Assets, Chart of Accounts, Terminologies
Costs incurred for projects still under development, such as a building not yet finished. This account accumulates expenses until the asset is ready for use. Once complete, the balance is transferred to a fixed asset category.
by Online Tutorial & Training Guide | Oct 16, 2025 | Accounting Proram, Terminologies
The ability to save system data regularly and recover it in case of error or loss. Cloud systems often do this automatically, while on-premise requires manual setup. Protects against data breaches or technical failures.
