How to Simply Avoid Debt Using this Equation?

Avoid debt now! If you haven’t avoided it yet, the earliest period to start is NOW! In my previous article entitled “the secret formula to get out of debt”, I have revealed how a simple accounting equation will help us get out of our debts. In this article, we will tackle further this formula and [...]

How to win your war against debt?

I understand that in every battle, time is an essence. Hence, this will be a quick article for everyone to read. In a short time, the reader will be able to know how to win his war against his debts, as well as his financial freedom. The following are the keys to defeat debts: Prevent [...]

What is a statement of financial position (balance sheet)?

As amended by International Accounting Standard – IAS 1 (2007), issued by International Accounting Standards Board (IASB) on September 6, 2007, some terminologies in the preparation of financial statements are amended. These amendments include the change of the “balance sheet” term to “statement of financial position; “cash flow statement” to statement of cash flow” and [...]

How to Avoid Declaring Business Bankruptcy?

In order for a business to become successful, cash and assets are important elements. Without these elements, a business is not possible to operate. If a business is in danger of declaring bankruptcy, there is often a proposed workout plan from a group of creditors. This plan is often used before the business or company [...]

What are Considered as Cash and Cash Equivalents?

CCE or Cash and Cash Equivalents refer to the liquidated assets that are declared on the balance sheet of the company. It is often reflected under the asset section of the sheet. In accordance to the company’s chart of accounts, Cash and Cash Equivalents are often the first account on the balance sheet. Cash and [...]