Congratulations, we have made it to the final installment of the Common Accounting Terms that you need to know!  We hope these terms have been helpful for you and increased your accounting vocabulary.  Definitions Continued.....    Liability  Occurs when an individual or business owes money to another person or organization. Bank loans and credit [...]

We’re back for more accounting terms for you to learn to sharpen your financial vocabulary.    Diversification  Diversification describes a risk-management strategy that avoids overexposure to a specific industry or asset class. To achieve diversification, people and organizations spread their capital out across multiple types of financial holdings and economic areas. The term is [...]

According to Merriam-Webster.com, Accounting is the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results. People and businesses use accounting to assess their financial health and stability. By knowing the most common industry terms, it can provide a better understanding of the accounting concepts, the accountant’s role, [...]

“Problem-solving becomes a very important part of our makeup as we grow into maturity or move up the corporate ladder." – Zig Ziglar   One facet of productivity is being able to solve concerns and issues effectively to mitigate any possible negative impact whether in life or at work. Problem-solving skills allow you to [...]

Being a Financial Analyst entails a wide range of activities – from gathering and analyzing data, making forecasts, and many more. This high-profile role presents data to the company’s executives to show their analysis of historical numbers, projections, and provide recommendations. In this blog, we will dissect the functions and importance of this role. [...]

Onboarding is a critical element of a new hire experience. According to a Gallup study, only 12% of the respondents feel that their companies have given them a complete and impactful onboarding. Roughly 1 in 10 employees strongly agree that their organization does a good job of onboarding. Building a robust onboarding program entails [...]

“The secret of change is to focus all of your energy not on fighting the old, but on building the new”   -Socrates    Change is inevitable and the accounting industry, as many other businesses, is not invincible.  The accounting industry can be affected by changes in regulations, processes, and most especially, technology.   Digital transformation [...]

“Every skill you acquire doubles your odds of success.”                                                                            —Scott Adams  Everyone needs a good accountant. Because [...]

According to Richard Branson, CEO, and founder of the Virgin Group, “Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.”. As a good and effective leader, you are also responsible for keeping your team members not just engaged but still loving [...]

What is a Senior Accountant? What does a Senior Accountant do? According to wallstreetmojo.com, a Senior Accountant is a person who is responsible for reporting costs, expenditure, profitability, margins, etc., and performs the lead accounting role in the organization. Senior accountant duties are more than those of a junior accountant, who gathers data, prepares [...]