Net Income vs. Profit_ What is the Difference

For the uninitiated, global business finance vocabulary can be difficult to understand. It’s so easy to mix up certain terms for other terms, and vice versa. While some terms, such as “cryptocurrency,” are mentioned more frequently as of late and certain jargon is taking on more fluid meanings, modern times have made it easier to become confused.

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Kelly Gonsalves
3 Ways Financial Accounting Can Help Your Business Succeed

Financial accounting is the process by which all the company's financial transactions — inbound and outbound — are recorded and reported, following a set of accounting principles. The data collected is then consolidated into different kinds of statements, such as income statements and cash flow statements. If you aren’t an accountant, however, you may wonder how this data is useful to you. Fortunately, you’re about to find out!

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Kelly Gonsalves
Financial Accounting_ How It Can Impact Decision-Making

Financial accounting is paramount in any business to ensure the financial health of the company. There is a set of accounting principles that every company must implement and adhere to. But all these accounting principles all boil down to what accounting basically does —keep track of all financial transactions in a business.

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Kelly Gonsalves
A Quick Guide on Managing Your Startup's Finances for Success

In today’s modern business landscape, the challenges that startups face have been growing more and more every day. From increasing consumer demands to fluctuating supplier prices, it’s no surprise that most startups are laid to rest within their first year of operation. Although it may seem discouraging, as a business owner, to see all the statistics and facts about the survival of all types of startups here’s something that you should keep in mind — startups fail because they aren’t smart with their money.

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Kelly Gonsalves