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One of the primary elements in managing purchase commitments is recognizing them in the financial statements. According to accounting standards, companies must disclose significant purchase commitments in the notes to their financial statements. This disclosure provides insight into future cash…

Mixing these categories up can throw off your financial picture and your tax reporting. Sort through your income and expenses in your chart of accounts so you can clearly see what your business earned, spent, borrowed, or invested during the…

Mixing these categories up can throw off your financial picture and your tax reporting. Sort through your income and expenses in your chart of accounts so you can clearly see what your business earned, spent, borrowed, or invested during the…