The Kreative Group

March 10, 2023

Shopify Bookkeeping 5 Steps to Complete Your Shopify Books

February 1, 2023

Revenue Recognition Principle in Accounting: Criteria and Methods

Content How does revenue recognition help my business? Installment method to recognize revenue Example of the revenue recognition principle Link your accounts Accounting Standards Codification (ASC) 606

December 30, 2021

outstanding checks definition and meaning

Reconciling is the process of comparing the cash activity in your accounting records to the transactions in your bank statement. This process helps you monitor all of the cash inflows and outflows in your bank account. The reconciliation process also helps you identify fraud and other unauthorized cash transactions. As a result, it is critical […]

August 27, 2021

What Is the Retail Inventory Method and How Do You Use It? Vend Retail Blog

Content Advantages and disadvantages of the retail inventory method Don’t abandon physical inventory counts Step 4: Calculate Ending Inventory What Is the Retail Inventory Method and How Do You Use It? Following are the formulas of different cost to sales ratios commonly used by businesses. Since the retail inventory method only gives an estimate of […]

August 9, 2021

Ordinary Annuity: Definition, Formula, and Examples

Content Car Loan Repayments Formula and Calculation of the Future Value of an Annuity Why You Can Trust Finance Strategists Start a conversation Who Should Not Buy an Annuity? For example, many retirement products are annuities that pay out fixed sums each month in retirement. People usually buy annuities to supplement their other retirement income, […]

August 4, 2021

Calculate Days Sales Outstanding

If a customer consistently delays payments, you must re-evaluate your strategy. Ensure your collections team is evaluating your customers’ creditworthiness. Based on the risk level, you can extend your credit and prioritize risky customers to avoid bad debt. In accountancy, days sales outstanding (also called DSO and days receivables) is a calculation used by a […]

July 21, 2021

Asset Encumbrance

Content What Is the Difference Between a Budget & a Rolling Budget? What Is an Operating Budget? What Does Encumbrance Mean? Reporting Tools for Encumbrances: Download a free copy of “Preparing Your AP Department For The Future”, to learn: The Advantages of a Budget Within a Project Accounting

July 14, 2021

Avoid Four Common Tax Season Scams

Content ‘Click here to see some details about your tax refund’ Protect yourself from tax scams Income Tax Calculator: Estimate Your Taxes Overdue stimulus payments or unemployment benefits Victims of human trafficking are in bondage through force, fraud or coercion, for the purpose of sex or labor exploitation. In Michigan, a victim is an individual […]

February 5, 2021

Understanding Income Statements

Cash Flows For The CompanyCash Flow is the amount of cash or cash equivalent generated & consumed by a Company over a given period. It proves to be a prerequisite for analyzing the business’s strength, profitability, & scope for betterment. Certification program, designed to help anyone become a world-class financial analyst. And information is the […]