Recent content by ankita

I keep hearing the term “fiat money” in discussions about economics and cryptocurrency. What is fiat money? How is it different from money backed by gold or other physical assets?

I’m thinking about pursuing a finance degree, but I’m not sure what career paths it opens up. What kinds of jobs can someone get — like financial analyst, accountant, banker, or something else? And which roles have the best growth or salary potential?

Hi everyone 👋 I’ve been reading about outsourced finance roles and came across the term virtual CFO. I’m curious — who actually needs a virtual CFO in the USA? Is it mainly small businesses, startups, and growing companies that can’t afford a full-time CFO, or do larger companies use them too...

The management of working capital is the process of relating a company short term liabilities and assets to ensure the smooth running of the company and availability of adequate cash flow. It includes managing inventory, accounts receivable and accounts payable. This is aimed at ensuring there...

Fractional CFO is an underpaid or short-term financial consultant that assists business to administer their funds without employing the services of a full-time executive. They offer such services as budgeting, forecasting, financial reporting, cash flow planning, and improvement strategies of...

Payroll reconciliation refers to the process of matching the records of the payroll with the actual payments, tax returns and accounting entries to be sure that everything is identical. It is usually the checking of payroll register reports and bank accounts as compared to employee hours...

Hi everyone 👋 I came across the term payroll variance while reviewing a payroll report, and I’m not exactly sure what it means. From what I understand, it might refer to the difference between the expected payroll amount and the actual amount processed — but I’m not sure if that’s correct. Does...

Has anyone used Sage 50 Accounting? I’m curious — how is it for managing business finances, invoicing, and bookkeeping? Is it easy to set up and use for a small business or freelancer? What are the pros and cons compared to other accounting software? Would appreciate your honest feedback before...

One of the audit strategies is a risk-based audit that concentrates on the areas that are most prone to error or issues. The auditor also spends more time reviewing the high risk areas rather than reviewing all areas in the same level. This is aimed at ensuring that time is well spent and the...

Audit procedures refer to the particular steps that an auditor follows in order to obtain evidence such as checking documents, balances, or making calculations. An audit program is the systematic arrangement of planning in which all the procedures, schedules, and tasks necessary are enumerated...

When you business is simple with few clients, no complex and need simple, simple expense tracking and invoicing, freshbooks excels. For independent contractors and small enterprises, it is easy to use and effective. However there is restriction on few features, adaptability and value usefullness...

I never heard the term audit management letter. does anyone know about it and explain me this.

For income earned in the Financial Year 2024-25 (April 1, 2024, to March 31, 2025), the corresponding Assessment Year (AY) is 2025-26. You can begin filing your return for this period from April 1, 2025.

To get a business license, you need to determine which licenses are required for your business type and location, register your business structure, gather necessary documents, fill out and submit the application, and pay the associated fees. The specific process varies by location, but generally...

Before filing an income tax return, gather the required paperwork, including Form 16/16A, salary slips, bank statements, interest certificates, Form 26AS, AIS/TIS, investment proofs, deductions under Sections 80C–80U, capital gains statements, rental income details, home loan certificates, and...