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The current ratio is one of the important indicators when it comes to determining a company’s solvency - the ability to pay its short-term obligation using its current assets. The accounting ratios reflect the overall financial health of a company. Here’s how it works and how you can calculate it. What is the current ratio? The current ratio (also known as the current asset ratio, the current liquidity ratio, or the working capital ratio) is a financial analysis tool used to

As a business owner, it’s important to differentiate the meaning of a trial balance and balance sheet so you can use them for the right purpose. The article will take you through what you need to know about a trial balance at a basic level. We’ll explain it as easy and understandable as possible so you can compare the trial balance vs. balance sheet. Trial Balance and Balance Sheet – Definitions and Meanings What is a balance sheet? A balance sheet, also known as the statemen

Get to love your numbers If you are a lawyer doing solo, or you have your own law firm and it terrifies you with just a flash of thought about financial statements, named it financial fear, then you come to the right place. “I’m confused. Those numbers make no sense to me”. You might have heard of this before from your fellow attorneys. That’s fine. When you’re getting to know someone better, you will start to love them. Our law firm bookkeeping services will help you to have

Financial statements (financial statements) are a form of documents showing quarterly and annual business results of a company.

The two important parts of the financial statement are the Balance Sheet and the Profit & Loss account. Without the preparation of these two entities the financial statement cannot be reported, even the readers of the statement are not able to clearly understand the company’s position. Hence, due regard is to be given by every company in the preparation of the two. However, people don’t understand them very clearly and have problems distinguishing the two terms. Our law bookk