Category: Accounting

  • Accounting of Cryptocurrency

    What is Cryptocurrency Cryptocurrency is a digital or virtual currency that uses cryptography for security. It operates independently of a central bank or government. Bitcoin, the first and most widely used cryptocurrency, was created in 2009. Other popular cryptocurrencies include Ethereum, Ripple, and Litecoin. Cryptocurrencies are typically created through a process called mining, in which […]

  • Cash Flow Statement

    Source: A Cash Flow Statement is a financial statement that shows how changes in the balance sheet and income affect cash. Cash includes cash equivalents. Essentially, the cash flow statement is concerned with the flow of cash in and out of the business. It is useful in determining the short-term viability of a company, particularly its ability to pay bills. […]

  • What is accounting?

    Definition of accounting According to the American Institute of Certified Public Accountants (AICPA), “Accounting is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character and interpreting the results thereof.

  • Ways to absorb overheads

    There are several ways to absorb overheads, including: