Online Bookkeeping

IFRS are a set of globally recognized accounting standards used to ensure consistency and transparency in financial reporting. The main objective of IFRS is to provide relevant and reliable financial information to investors and stakeholders, helping them make informed decisions about a company's financial health and performance.   On the other hand, "cooking the ledgers" is a term used to describe unethical accounting practices where a company falsifies its financial records to make its financial performance look better than it is . This is done to deceive investors, creditors, and other stakeholders into thinking the company is more profitable or financially stable than it really is.   Cooking the Ledgers: A Recipe for Disaster   Cooking the ledgers can take many forms, from understating liabilities to overstating revenue or assets. In some cases, companies may use complex accounting techniques or manipulate financial statements to achieve their desired results. For e...

Introduction:   Cash flow is the lifeblood of any small business. Without adequate cash flow, a business can struggle to pay bills, invest in growth opportunities, and even survive in the long run . One effective way to improve your small business's cash flow is through proper bookkeeping practices. In this blog post, we will explore how bookkeeping can be used to improve your small business's cash flow and provide real-life examples to illustrate these concepts.   Accurate Record Keeping:   The first step in improving your small business's cash flow is to ensure that your bookkeeping records are accurate and up to date . This includes tracking all income and expenses, reconciling bank and credit card statements, and monitoring cash reserves. By maintaining accurate records, you can identify potential cash flow issues early on, and take action to mitigate them.   Example: Let's say you run a small retail store. By accurately tracking your sales and expenses, you...