Myths and misconceptions are often created out of a few bad experiences or even lack of experience with the field of accounting. And while there’s some truth in those statements, they are not the whole story. So let us clear things up by exposing some of the most common misconceptions about accounting. Accounting is the...

Cash flow happens to be one of the major concerns of small businesses. In fact, studies show that 82% of business failures are due to poor cash flow management, or poor understanding of how cash flow works. Therefore, managing it effectively and understanding where the money you are spending is going and why is of...

Choosing an accountant is not easy. Different accountants can help your business in different ways so before you start talking to any prospective accountants, it’s important to spend time determining what your needs are. Do you, for example, need an accountant to simply produce your annual accounts and help you with your tax returns? Do...

‘Assets’ and ‘liabilities’ are two words used by accountants quite a lot. But what do these terms really mean and what do they have to do with the financial health of a business? We like to break down accounting terminologies into simple terms so that business owners can better understand their finances, so read below...