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Accrual accounting recognizes revenue as it’s earned, rather than when you receive payment.
✅Example:
Employee salaries
Cash paid to suppliers and vendors
Cash received from customers
Tax and interest payments
Direct Cash Flow Method
The direct cash flow method uses real cash inflows and outflows taken directly from company operations. This means it measures cash as it is received or paid, rather than using the accrual accounting method.
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The balance sheet is divided into two parts based on the following equation, a company’s assets with its liabilities plus its shareholder equity.
Assets = Liabilities + Shareholders’ Equity
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A BIG KEY TO SUCCESS
- When Bill Gates first met Warren Buffett,
- Gates' mother asked Bill and Warren to identify what they believed was the single most important factor in their success through life.
Gates and Buffett gave the same one-word answer: "Focus"
>>> FOCUS on you.
Quote of the day!
"Success is No Accident"
Famous soccer athlete, Pele who appeared to be born with plenty of natural talent, continues this quote by adding “It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing.”
#success
If you are a Startup and looking for a professional accountant and bookkeeper, Zoho finance consulting partner is here to help.
DM "Grow with ZOHO" now
PS: What's your proudest professional moment? Share your story below and let's inspire each other to greater heights!
A New Chapter: Zoho Finance Partner Program Entry!
#alhamdulillah
Yesterday, I secured my spot in the Zoho Finance Partner Program. The excitement is real, and the possibilities are limitless.
#zoho#foryou#business
From passion to partnership, it's a testament to the power of persistence!
Behind every milestone lies a story of dedication.
It's not just about entering a program; it's about embracing the challenges and growing through them.
6 easy steps to do before you hire a bookkeeper.
PS: I help business owners make the right decision when it comes to their bookkeeping, whether they should or should get external help for their bookkeeping.
#bookkeeping#bookkeeper#remotebookkeeper#acccounting#Elections2024