For those unfamiliar,the term “accounting” and “bookkeeping” are often used interchangeably. However, for those unfamiliar, append below some of the difference:
As bookkeepers, it is crucial to differentiate Profit and Cash. Failure to understand this simple principle will cause serious repercussion to the financial health of the company. Don’t just believe that if a high profitable company must always has a lot of cash or is a very liquid company. Remember that Profit and Cash is [...]
As bookkeepers, it is essential to be able to understand the basic difference between Capital and Revenue expenditure. You might ask what’s so great of understanding same. Well, if we don’t do that capital items will then being charged straight to the Income Statement and Expenditure being suspended as capitalized in the Balance Sheet – [...]
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