The three major financial statement reports are the balance sheet, income statement, and statement of cash flows. The balance sheet, also called the statement of financial position, is the third general purpose financial statement prepared during the accounting cycle. It reports a company’s assets, liabilities, and equity at a single moment in time. You can think of it […]

Equity is important because it represents the ownership interest of shareholders in a company. Equity can also be used to give insights into a company’s financial health. For example, a high equity ratio (the ratio of equity to total assets) suggests that a company is in good financial shape. Some elementary accounting concepts have been […]

You built your construction company with the tools and skills you learned on the jobsite. This video shows you the organization, tools, and processes Apparatus uses to deliver precision construction accounting to our clients. Adds powerful capabilities on top of payroll, such as garnishment payment service, SUI management, background checks, and job posting through construction […]

Billing methods, such as fixed-price, time-and-materials (T&M), and unit pricing, directly affect how revenue and costs are recorded. Fixed-price contracts require careful monitoring of costs against a set budget, while T&M billing requires detailed tracking of labor and materials for accurate invoicing. Accurate management of these billing methods ensures precise financial reporting and cash flow […]

The budgets are then built around what is needed for the upcoming year, regardless of whether each budget is higher or lower than the prior year. This approach lists every expense and income stream, with projections for how much each will cost or bring in. Whether you’re a seasoned church leader or a newcomer, this […]

Hence, you need to start planning and outlining after making the actual budget. To get you started, download this blank budget worksheet example to assist and guide you in budgeting. Always put in mind that the image of the church is what’s at stake; therefore, you need to do the math carefully. Although this is […]

From an advisory perspective, your clients may engage you for year-round advice and insights into all areas of their businesses. You work with them directly and routinely to enhance their decision-making and help their businesses grow. This type of advisory relationship differentiates you from other consultants. Accounting consultants are vital in helping businesses manage their […]

Your personal and professional development, your achievement, your lifelong learning, your individuality and your choices. Whether you’re just starting out or an experienced professional, your future starts here. Align strategy, cost, workforce and operations to become an outcomes obsessed transformative enterprise. Make decisions with foresight and experience to achieve your business objectives. Someone on our […]