Kategori: Bookkeeping

By setting clear expectations and accountability, businesses can foster a secure outsourcing relationship that protects their financial data effectively. Outsourcing providers often implement best practices and internal controls that align with industry standards and regulations. This includes adherence to frameworks such as the Sarbanes-Oxley Act (SOX), which mandates accurate financial reporting and internal controls to…

Over time, retained earnings can have a significant impact on a company’s growth and profitability. The dotted red box in the shareholders’ equity section on the balance sheet is where the retained earnings line item is recorded. Yes, a balance sheet company can have negative retained earnings or an accumulated deficit. Negative retained earnings mean…