Recent content by niyati

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    How do companies account for cryptocurrency transactions?

    Companies account for cryptocurrency transactions by recording them as assets on their balance sheets. They track the purchase cost, fair market value, and any gains or losses during sales or exchanges, following relevant accounting standards like IFRS or GAAP to ensure accurate financial...
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    What’s the accounting treatment for share buybacks?

    When a company buys back its own shares, how is it recorded in the books? Also, how does a share buyback impact shareholder equity and overall valuation?
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    What’s the difference between tax avoidance vs tax evasion with real-world examples?

    I often hear people confuse tax avoidance and tax evasion. Could someone explain the difference between tax avoidance vs tax evasion with real-world examples? Also, how do tax authorities treat each case?
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    How does inflation impact financial statements, and which accounts are most affected?

    With rising inflation, I’m wondering how inflation impact financial statements reflects in company financial statements. Which accounts (like assets, liabilities, expenses) are impacted the most, and how do accountants usually adjust for this?
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    What is the difference between cash basis vs accrual basis accounting?

    I’m confused about choosing between cash basis and accrual basis accounting. Some say cash basis is simpler for startups, but others recommend accrual for accurate reporting. Can anyone share which one works better for small businesses and why?
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    What’s the difference between an LLC and Inc when starting a business?

    LLC (Limited Liability Company): Flexible structure, protects personal assets, fewer formalities, pass-through taxation (profits taxed once via owners). Best for small–medium businesses. Inc (Corporation): More rigid, strict compliance, ability to raise capital via shares, double taxation...
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    what is business?

    A business is an organization or activity that produces, buys, or sells goods and services to earn profit. It involves providing value to customers in exchange for money. Businesses can be small (local shops) or large (corporations), and operate in various industries like retail, technology, or...
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    How to Buy a Business with No Money?

    Buy a business with no money by leveraging seller financing, investor partnerships, or SBA loans. Negotiate earn-outs, lease-to-own, or profit-sharing deals. Use creative financing like asset-based loans or vendor financing. Focus on undervalued businesses, strong cash flow, and win-win terms to...
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    What is accounting?

    Accounting is the language of business that shows where money comes from, where it goes, and how much is earned or owed.
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    What are types of accounting?

    Here are the main types of accounting: Financial Accounting – Records and reports a company’s financial performance for external users like investors. Managerial Accounting – Provides internal financial data to help management make business decisions. Cost Accounting – Analyses production costs...
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    Does trader joe's take ebt?

    I’m wondering — does Trader Joe’s take EBT? I’d like to shop there using my benefits and want to confirm before making the trip. If anyone has used EBT at Trader Joe’s, please share your experience.
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    How do I complete the GST login process if I’ve forgotten my username or password?

    I’m having trouble accessing my GST account. The GST login page keeps showing an error after I enter my details. Has anyone else faced this issue, and how did you resolve it?
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    Audit Screening Tool: What Is It?

    Can someone explain what an Audit Screening Tool is and how it works? I understand it’s used to assess financial records and detect potential compliance issues, but I’d like to know more about its key features, benefits, and when it’s typically used.
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    Why do 90% of small businesses fail?

    I’ve read that common reasons include poor cash flow management, lack of market research, and ineffective marketing strategies. I’d love to hear from experienced entrepreneurs on what they think are the biggest causes and how to avoid them
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    Accounting software for personal use

    Hi all, I’m looking for recommendations on the best accounting software for personal use. I need something simple to track income, expenses, and maybe generate basic reports. Any suggestions or experiences would be greatly appreciated
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