Have you ever wondered why it’s important to reconcile your balance sheet regularly? Doing so is essential to ensure the accuracy of your financial records. Still, it can also help reveal any discrepancies that might be costing you money. At Protea Financial, we understand the importance of accurate financial records. We’re here to explain why…
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When you own a company, you are responsible for keeping track of its finances. This process involves compiling and analyzing different financial statements on a regular basis. These documents provide insight into the health of your business and how profitable it is. The financial statements are essential when you want to know about the financial…
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The accounting equation is the most important piece of information any accountant can learn. Anyone starting out in the field of accounting or wants to just better understand the account equation should take time and learn the equation. It really a very simple formula. Assets = Liabilities + Equity This straightforward equation on a company…
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A balance sheet is a financial statement that provides an overview of the company’s assets, liabilities, and equity at a specific point in time. It is important to know what each one means in order to understand how well you’re doing. It can be difficult to understand all the information on this document, but there…
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