Accounting, tax preparation, bookkeeping and payroll services – crammed together in one category – comprised the most profitable industry in the United States for the 12 months ending June 30, according to a new report by financial information provider Sageworks. Accounting firms’ net profit margin of 18.13% led real-estate rental companies and legal services, both… Read More

A very common question is whether or not there is any difference between accounting and bookkeeping. Our explanation will start with bookkeeping because it is a subset of the larger topic of accounting. Bookkeeping Bookkeeping is the recording of basic accounting transactions such as: Invoicing customers. Recording invoices from suppliers. Recording cash receipts from customers.… Read More

What is social accounting? Social accounting is the process of communicating the social and environmental effects due to the business’ economic actions to the society and to people who find a huge interest in the business. It is mostly used in the aspect of business or corporate social responsibility. Any organization, including NGOs, charities or… Read More