Prashant

However, you’re a busy business owner, which means frequent backups aren’t always at the top of your to-do list. Fortunately, with online accounting software like QuickBooks Online, backups happen automatically. When signing up for QuickBooks Online, it only gives options for paying monthly. However, once you’ve signed up, navigate to breaking down reconciliation your account

The retention ratio refers to the percentage of net income that is retained to grow the business, rather than being paid out as dividends. It is the opposite of the payout ratio, which measures the percentage of profit paid out to shareholders as dividends. In financial modeling, it’s necessary to have a separate schedule for modeling

Limitations of trade discounts include their effectiveness in increasing sales, potential dependency on the supplier, and suitability for all products or services. Best practices for managing trade discounts include having clear policies, regular reviews, and exploring other cost reduction methods. Cash discounts result in the reduction of purchase costs during the period. It is therefore

The questions start at the 30,000 foot level, and then go deeper and deeper and become more complex. So by the time you get to the end of the book, you’ve unpacked many things — you’ve taken that onion and peeled it all the way back. Accounting is challenging, yet — as Warren Buffett says