Recent content by kuldeep

Fiat money is money that has value not because it is backed by a tangible asset like gold or silver, but rather because a government has declared it to be legal tender. Government regulation and trust are the sources of its value. The US dollar, the euro, and the yen are a few examples...

Your hourly pay is around $28.85 before taxes if you earn $60,000 annually, assuming a typical full-time schedule of 40 hours per week for 52 weeks (2,080 hours). The real take-home pay will be lower after insurance, taxes, and other deductions.

It is possible to finance a car without credit, but it may be more difficult and frequently involves higher interest rates. Lenders may offer financing through credit unions or first-time buyer programs, or they may demand a larger down payment, a co-signer, or proof of consistent income...

I’m trying to understand the concept of working capital management. From what I know, it has something to do with managing the current assets and current liabilities of a business, but I’m not fully sure how it works in real practice. Does it include things like managing cash flow, inventory...

Hi everyone 👋 I keep hearing about the payroll reconciliation process, especially during payroll finalization, but I’m not fully sure what it means. From what I understand, it’s basically checking if all salary calculations match attendance, leave records, statutory deductions (PF, ESI, TDS)...

Quick question — what exactly is a risk-based audit? I’ve read that instead of checking everything equally, auditors focus more on high-risk areas, but I’m not sure how it works in practice. How do auditors identify those risks, and does it really make the audit more effective?

Can someone shared their experience with freshbooks and give me freshbooks review. I am bit confused and donot want to spend like this only.

Hi everyone, I was reading about financial history and got curious — when were women allowed to have bank accounts in their own names? Was it the same time across all countries, or did it vary by region? I’d love to know when this financial independence became common.

Here’s a clear, step-by-step walkthrough of a typical financial audit process: Pre-engagement/Client acceptance — Evaluate independence, conflicts, and whether to accept the engagement; agree scope, timeline, and fees. Engagement letter — Document objectives, responsibilities, scope...

Liability accounts display a company's debts to other parties. Future-payable obligations are displayed. Long-term obligations include bonds payable, mortgages, and lease agreements; current liabilities include accounts payable, accrued expenses, and short-term loans. These accounts display a...

I often get confused between a purchase order and an invoice when dealing with business transactions. Can someone explain the key differences between the two? Who issues each document, at what stage in the process, and how do they affect accounting or payment tracking?

I’ve been seeing the term VTO mentioned in workplace messages and schedules, and I’m not sure what is vto meaning. Does it mean “Voluntary Time Off”? How does it work—do employees still get paid, or is it unpaid time off? Would love some clarity from anyone familiar with it!

Individual taxpayers in the United States who are required to file a 2025 filing year tax return have a tax filing deadline of April 15, 2026. In India, the last date to submit income tax returns of the financial years 202526 (assessment years 202627) is July 31, 2026, when the taxpayer is not...

I’m trying to figure out what’s reasonable to pay for payroll services. What’s the typical pricing structure (base fee + per-employee, pay-run pricing, software vs full service)? For example, for a small business with 10-20 employees, what range is normal, and what factors drive the cost up?

I’m looking for professional tax-preparation software suitable for someone who handles multiple clients (individuals and small businesses). What are the best options out there right now, what features should I prioritise (e.g., e-file support, multi-state, business returns, workflow tools), and...