2020 Blog Roundup
Our blog has seen a total of 62 new articles over the year. We’ve compiled a list of our top 10 favourites from the year that won’t be forgotten.
profit and loss
What’s the Difference between Cash and Profit and Can a Business Be Profitable But Still Run Out of Cash?
Ever wondered how a business can be profitable but run out of cash? In this article, we cover what is cash and profit and what it means for the health of your business…with examples!
Accounting for Bad Debt: How to prepare for and improve your bad debt
In this article, we tackle the concept of bad debt – what it is, how to prepare for it, and what to do when things start spiraling out of control. Not every business will experience bad debt, but those that do will certainly know about it when it happens! Check out what to do when the worst happens in our article.
Calculating Depreciation – Which Method is Best?
Got a fancy new asset and not sure on the best way to depreciate it? What even is depreciation? In this article we’ll look at the popular depreciation methods with examples and formulas so you can work out the best method for you.
What’s the Difference Between Debits and Credits in Accounting?
Welcome to part 1 of 3 in this “Accounting Crunch” series. In this series, we’ll be covering debits & credits, double-entry accounting and T-accounts. Each part will consist of one topic. In this part, we’ll be covering debits and credits!
Profit and Loss Example – What Goes into the P&L (Income) Statement?
A profit and loss statement, also called an income statement, shows the revenue and expenses of a business, broken down into categories. This week we’re going line-by-line through an example of this report, introducing the key concepts of the P&L.
What is Operating Profit? – Definition, Formula & Example
Operating profit is one of the most important lines on the profit and loss (income) statement. In this article, we explain what it is and why it’s so important with examples, formulas and definitions.
Gross Profit vs Net Profit – What’s the difference?
Struggling with all the different types of profit in the profit and loss report? Well in this article we break down and demystify gross and net profit. We’ll also explain what they mean for business and give some handy tips on how to improve them.
Net Profit vs Revenue – What’s the difference?
New to the profit and loss statement? Getting confused with all the terminology? Well, fear not! In this article, we break down net profit and revenue and compare the differences. You’ll be a revenue and profit wizard in no time!