Petty cash is a financial management tool that plays a crucial role in facilitating day-to-day business operations. Often referred to as a small fund reserved for minor expenses, petty cash provides a convenient and efficient means for companies to handle small transactions without the need for formal requisitions or complex approval processes. This readily available… Continue reading What is Petty Cash?
Discover 10 essential tax deductions for car dealerships. Learn how to reduce tax liabilities and optimize the financial health of your business.
Finding a crypto accountant can be a daunting task, but it is an important step for anyone involved in the cryptocurrency industry. A crypto accountant is a professional who specializes in the unique accounting and tax implications of cryptocurrency transactions. In this article, we will provide some tips on how to find a crypto accountant… Continue reading How to Find a Crypto Accountant
Net asset value (NAV) is a measure of the market value of a company’s assets, minus its liabilities. It is often used to evaluate the performance of investment funds, such as mutual funds and exchange-traded funds (ETFs), as it provides a way to compare the value of the fund’s underlying assets to the price at… Continue reading How does NAV(Net Asset Value) apply to NFTs?
Digital assets are mistrusted by many accountants. They are, however, fundamental to the growing Web3 vision of the internet, e-commerce, and peer-to-peer transactions. And Accounting for NFTs is vital to achieving errorless accounting for digital assets. Moreover, it can prove that a person owns tangible, intangible, and digital assets. NFTs are useful for much more… Continue reading Accounting for NFTs: Key Components & Challenges
Accounting for crypto businesses can be different from traditional accounting in a few ways. One of the key differences is the need to account for the unique features and characteristics of cryptocurrencies, such as their decentralized nature, high volatility, and lack of a physical form. One of the challenges of accounting for cryptocurrencies is the… Continue reading Crypto Accounting vs Normal Accounting
The cryptocurrency market has seen massive growth since that initial Bitcoin transfer that took place back in 2009. A decade later the cryptocurrency market is estimated at over 2 trillion dollars with a staggering 4000 different cryptocurrencies in existence. Industries like the medical and public sectors have embraced blockchain, a revolutionary computing technology that validates… Continue reading Cryptocurrency Bookkeeping – A Comprehensive Guide With Best Practices
Looking for the perfect accounting partner for your business? Learn key factors to consider and tips for finding the ideal accounting firm to meet your needs.