There are two key differences between “are” and “our” that can help you understand which one to use in any situation. Each one has a trick or hack to help.…

Due to the cash not being readily available for use, cash that is restricted is generally excluded in several liquidity ratios. Failure to exclude the cash in the calculation of…

Now we’ve looked at the advantages, let’s cover the potential drawbacks before making a payroll change. This approach ensures hourly professionals are compensated fairly for their time even when work…

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Discover what a negative Return on Assets (ROA) truly signifies for a company's financial health, asset use, and overall performance. It is important to note that these examples are for…

When it comes to understanding the financial health of an organization, one crucial aspect to consider is the classification of net assets. Net assets represent the residual interest in an…

Businesses will now analyze the differences in financial indicators over the two reporting periods. These changes could be pertaining to increased revenues, surged profits, lower liquidity ratios, etc. Auditors often…

For tax purposes, the IRS generally requires costs providing a future benefit beyond the current year to be capitalized. Capital expenditures costs appear in different sections on a company’s cash…

Facing an audit can be an intimidating experience, but understanding the process and preparing adequately can transform this challenge into an opportunity for growth. At TGG Accounting, we believe in…

The first three, assets, liabilities, and equity all go on the company balance sheet. The last two, revenues and expenses, show up on the income statement. A debit is an…