Category: Bookkeeping

For more information, please see the Resource page in this course and onlinemba.illinois.edu. Financial accounting focuses on the reports that managers generate to provide interested external parties a summary of the firm’s financial position and operations. Managerial accounting focuses on the information and the analytical tools and techniques that help managers and employees make the […]

One of these, the Balance Sheet, is particularly important for a comprehensive understanding of an HOA’s financial health. When it comes to managing a homeowners association (HOA), knowing the financial health of your organization is crucial. These documents show the association’s financial standing, allowing board members to make well-informed decisions and keep the community running […]

Though often confused for each other, there are key differences between bookkeeping and accounting. At its core, bookkeeping is about recording financial data, while accounting is about interpreting financial data. There’s a lot to think about when it comes to launching your accounting career. This may influence which products we review and write about (and […]

Please note that the use of debt for financing a firm’s operations is not necessarily a bad thing. The extra income from a loan can help a business to expand its operations, enter new markets and improve business offerings, all of which could improve profitability in the long term. If your company had $100,000 in […]