by Small Business Accounting Software | Aug 25, 2026 | Terminologies
The conclusion issued by an auditor on financial statements. Types include unqualified (clean), qualified, adverse, and disclaimer. It influences stakeholders’ confidence.
by Small Business Accounting Software | Aug 24, 2026 | Terminologies
Shows changes in retained earnings during a period, including net income, dividends, and prior period adjustments. Links income statement and balance sheet. Useful for assessing profit reinvestment.
by Small Business Accounting Software | Aug 20, 2026 | Terminologies
Reports the inflows and outflows of cash from operating, investing, and financing activities. It explains why net income may differ from cash position. Vital for understanding liquidity and sustainability.
by Small Business Accounting Software | Aug 19, 2026 | Chart of Accounts, Terminologies
Income from one-time projects, often used in construction, marketing, or event management services. Each project may be tracked separately for job costing. Offers insights into project profitability.
by Small Business Accounting Software | Aug 19, 2026 | Assets, Chart of Accounts, Terminologies
A temporary account used to track goods bought for resale. At the end of the period, it adjusts into inventory and COGS. Helps monitor supplier activity and inventory turnover.
by Small Business Accounting Software | Aug 19, 2026 | Chart of Accounts, Terminologies
Tracks gains and losses not included in net income, such as foreign currency adjustments or unrealized securities gains. Appears in equity section. Reflects broader changes in net worth.
