Recent content by Rick_Grimes

To set up a trust, you’ll need to: Decide the purpose (e.g., estate planning, protecting assets, or supporting family). Choose the type of trust (revocable, irrevocable, living, etc.). Pick a trustee (the person or institution who manages it). List beneficiaries (who will receive the assets)...

Full-service bookkeeping means handling all aspects of a company’s financial records — not just recording transactions, but also managing accounts payable/receivable, payroll, bank reconciliations, expense tracking, financial reporting, and tax prep support. Basically, it covers everything...

A Senior Manager is someone who oversees a team or department, usually reporting to a director or VP. They’re responsible for big-picture stuff like setting goals, managing budgets, and guiding their team’s work while still being hands-on when needed. For example, at my last job, our Senior...

From my experience running a small business, wages outstanding refers to the money owed to employees for work they’ve already done but haven’t been paid for yet. It usually comes up at the end of an accounting period when payroll hasn’t been processed but the work was completed—like if your pay...

When a company buys back its own shares, the cost is recorded as a deduction from equity (under “treasury stock” or “share capital & reserves”), not as an expense. The shares can later be reissued or canceled — if canceled, the share capital is reduced by the nominal value, and any extra paid is...

A statutory audit is legally required, done by external auditors, and checks if a company’s financial statements comply with laws and regulations. An internal audit is done by the company’s own team (or hired internally) to review processes, risks, and controls, making sure operations follow...

SAP software is a type of enterprise software that companies use to manage business processes like finance, supply chain, HR, and customer relations. It helps different departments share data in one system so everything runs more smoothly and efficiently.

Yes — debt certificates are basically bonds or similar instruments that investors buy. When you purchase one, you’re lending money to the issuer (like a company or government), and in return, they promise to pay you interest plus the original amount back at maturity.