Control Your Spending
To take a break from writing our Accounting 101 series, we thought we would have a look back on our site and see how things have changed over the last … Read More
Dave Ramseys Baby Steps Program
In our personal finance articles, for example our article on watching those expenses, we often talk about Dave Ramsey and the very positive impact he has had on our family’s … Read More
Accounting for Liabilities – Accounting 101
Definition Liabilities are financial arrangements (normally called debt or loans) that create an obligation on a business to expend economic benefits to a third party. The accounting for liabilities is … Read More
Net Profit Ratio Analysis and Calculator
A further ratio that can be used in determining the profitability of the firm is the net profit ratio (NPR). This ratio is also often referred to as the Net … Read More
Accounting for Drawings – Accounting 101
Definition Drawings refer to transactions where the owner or owners are withdrawing funds from the business in the form or cash or some other asset, for example stock or equipment. … Read More
Accounting For Revenue – Accounting 101
Definition Revenue or income is the receipt of money or the inflow of economic benefits as a result of past events in operating the firm. How we define revenue in … Read More
Define Expenses – Accounting 101
Definition Expenses, or operating expenditure, are payments or outflows of economic benefits from a business to pay for the day-to-day running costs incurred as a result of transactions that have … Read More