Freedom Folio

7 Types of Errors in Accounting You Must Avoid to Save Your Business

Accounting errors are costly oversights for any business, be it small or large. These mistakes often lead to inaccurate financial reporting which affects the decision-making and overall health of the business.  In this article you will get to know the types of errors in accounting, how they affect your business and how you can fix […]

How Inheritance Tax Works and What It Means for Your Family

Are you worried that the tax needs to be paid on inheritance? Inheritance planning is a vital process which impacts the financial stability of your loved ones. Carefully organising how your assets are to be distributed after your passing, not only safeguards your future but also makes sure that your wishes are respected.  However, the […]

What should the income statements look like? 

An income statement can be defined as a financial report which showcases details of income and expenses over a reporting period. People also know it as a profit and loss statement, and they prepare it quarterly or annually. Income statements are essential as they show a company’s financial performance over a certain period. Moreover, the […]

All You Need to Know on Cash Flow Statement

Managing cash flow helps in giving insights to a business along with its performance and flexibility. Additionally, strong cash flow statements allow businesses to take advantage of opportunities in a quicker and surplus way back to business making it profitable and more stable. A cash flow statement helps in operating, investing, financial activities and income […]

All You Need to Know on Cash Flow Statement

Managing cash flow helps in giving insights to a business along with its performance and flexibility. Additionally, strong cash flow statements allow businesses to take advantage of opportunities in a quicker and surplus way back to business making it profitable and more stable. A cash flow statement helps in operating, investing, financial activities and income […]

Comprehensive Guide to Deferred Tax

Deferred tax is a pivotal concept in accounting that often leads to confusion but plays an essential role in financial reporting. It represents the discrepancy between the tax expense shown in financial statements and the actual tax due to authorities. This difference arises because of variations in timing between when income or expenses are recognized […]

QuickBooks bookkeeping business: why you need it 

Running the Quickbooks bookkeeping business can be difficult. Moreover,  to make things easier, you can use it, as it provides you with a solution allowing you to access client data and perform work. It is an accounting software that helps accountants to work. Furthermore, this blog will explore quick bookkeeping business and also explore quickbooks […]

Nonprofit bookkeeping: All you need to know about it 

Nonprofit bookkeeping is a process of non-profit planning, recording, and reporting on finance while mainly focusing on earning profit in the aspect of accounting. It follows a list of specific rules and responsibilities for donors and contributors. Furthermore, in this article, you will learn about the basics of non-profit bookkeeping, nonprofit accounting, nonprofit financial management, […]

Your Guide to the Best CPA Accountants for Financial Mastery

A licensed professional who has passed an exam given by the state board of accountancy is known as a Certified Public Accountant (CPA). Only accountants with a bachelor’s degree and previous working experience in the industry are eligible to take the Uniform CPA Exam. Other countries have equivalent certifications, notably the chartered accountant (CA) designation […]

The Ultimate Guide to Outsourcing Bookkeeping Services

Introduction Proper bookkeeping helps companies to have a reliable assurance of performance and provides information on making strategic decisions for revenue and income for goals. Moreover, outsourcing bookkeeping helps with financial regulations and maintaining tax codes and practices. By outsourcing bookkeeping, you can be assured that your accounts are in the hands of experts. Furthermore, […]