Is agentic AI the next big thing for accountants?

The last part of the definition from the AICPA shown above is concerned with the interpretation of the results made available by accounting records and summaries. We actually encounter or apply accounting in our daily lives – in budgeting, computing household expenses, checking bank balances, counting change, and many more. The simple things we do [...]

By | 2025-01-15T09:25:11+00:00 May 17th, 2024|Bookkeeping|0 Comments

Trial Balance vs Balance Sheet: Key Differences Explained

It will also examine how these two elements interact within the broader context of financial reporting and decision-making. A balanced trial balance indicates that the accounting entries are accurate and that the organization’s financial records are up-to-date. The balance sheet includes assets, liabilities, and equity, while the profit and loss account includes revenue, expenses, and [...]

By | 2025-02-07T18:04:22+00:00 October 10th, 2023|Bookkeeping|0 Comments

What is MTD? A Guide for Self-Employed Contractors, Freelancers, and Landlords

Having a member of your team who handles everything financial might seem tempting, but remember to factor in the salary and benefits you would be responsible for providing. Your two main choices will likely be an accounting firm or an independent accountant who you contract with. If you’re self-employed and considering a solo 401(k) vs. [...]

By | 2025-01-31T22:23:35+00:00 March 2nd, 2020|Bookkeeping|0 Comments