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Human resources

Human resources (HR) is a department in a company that is responsible for all aspects of employee management. This includes recruiting, hiring, training, developing, and retaining employees. HR also handles…
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Administration

In business, administration refers to the management of a company's day-to-day operations. It includes tasks such as planning, organizing, staffing, directing, and controlling. The goal of administration is to ensure…
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Trial balance

A trial balance is a bookkeeping worksheet that lists the balances of all ledgers (accounts) that have nonzero balances. A trial balance is an important step in the accounting process, because it helps identify any mathematical…
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Ledger

A ledger is a book or digital record that stores bookkeeping entries. The ledger shows the account’s opening balance, all debits and credits to the account for the period, and the ending balance. Ledgers may…
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Income statement

An income statement is a financial report that shows a company’s profit and loss over a period of time, usually a quarter or a year. It shows how a company’s revenue (sales or income) is transformed into net…
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Cash flow statement

A cash flow statement is a financial report that details how cash flows i.e. entered and left a business during a reporting period. It shows how a company manages its cash position, meaning how…
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Balance sheet

A balance sheet is a financial statement that reports a company’s assets, liabilities, and shareholder equity at a specific point in time1. It provides a snapshot of a company’s finances (what it owns and owes) as of…
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Accounting

Accounting is the process of recording, classifying and summarizing financial transactions. It provides a clear picture of the financial health of your organization and its performance, which can serve as a catalyst for resource management…