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 the date of publication. It also shows how the assets are financed, either through either debt or equity. The balance sheet adheres to the following accounting equation, with…
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 and strategic growth. Accounting also involves the communication of financial and non-financial information to various stakeholders such as investors, creditors, regulators, and tax authorities. Accountants Accountants are the backbone of…
Cryptocurrency Market Volatile, Investors Should Be Prepared
Bitcoin and Altcoin Prices The overall cryptocurrency market is down 3% today, with a total market capitalization of $1.2 trillion. The decline in cryptocurrency prices is likely due to a number of factors, including the ongoing war in Ukraine, rising inflation, and the Federal Reserve’s interest rate hikes. Despite the decline in prices, some analysts…
Motorola’s new foldables are here and they look amazing
Motorola’s new foldables for 2023, the Motorola RAZR and the Motorola RAZR Plus. These phones are being launched in the U.S., and that’s what they’ll be called. Just to keep you on your toes, though, these phones have different names outside the States, being called the Motorola RAZR 40 and the Motorola RAZR 40 Ultra,…
Lloyds to Close 144 Branches in 2023
Lloyds Banking Group has announced plans to close 53 more branches in 2023, bringing the total number of closures to 144. The closures will affect Lloyds Bank, Halifax and Bank of Scotland branches across the UK. The bank says that the closures are necessary due to a decline in customer use of branches. In the…
ESB and Ørsted join forces to boost Ireland’s offshore wind sector
ESB, Ireland’s leading utility, and Ørsted, the world leader in offshore wind, have announced a landmark deal to jointly develop an Irish offshore wind portfolio that could generate up to five gigawatts (GW) of renewable energy and support the country’s transition to net-zero emissions. The agreement, which was launched on Friday in Cork by Minister…
Gold prices today – June 2, 2023
As of 8:44 AM PST on June 2, 2023, the price of gold is $1,976.90 per ounce. This is a decrease of $2.10 from the previous day’s close. The gold price has been on a downward trend in recent weeks, due to a number of factors, including rising interest rates and a stronger US dollar….
Pakistan’s petroleum sales plunge by 40% YoY in May 2023
The sales of petroleum products in Pakistan witnessed a sharp decline of 40% year-on-year (YoY) in May 2023, reaching 1.30 million tons, according to the latest data released by the Oil Companies Advisory Council (OCAC). The drop in petroleum sales was attributed to various factors, such as the surge in petroleum prices, the slowdown in…
How to Install SPC Flooring Yourself
If you’re looking for a durable and stylish flooring option that’s easy to install, SPC flooring is a great choice. SPC stands for Stone Polymer Composite, and it’s made from a mixture of stone, polymers, and additives. This makes it strong, water-resistant, and scratch-resistant. SPC flooring is also relatively easy to install. If you have…
Pakistan to Introduce Digital Currency in the Future
Pakistan is on its way to introducing a digital currency, similar to cryptocurrencies like Bitcoin and Ethereum. This was announced by Shoukat Bizinjo, Additional Director, Digital Financial Services Group, State Bank of Pakistan (SBP), at the 16th international conference on Mobile Commerce, organized by Total Communications. Bizinjo said that the SBP is reviewing and consulting…
Li Auto Delivers More Than Twice as Many Cars in May
Chinese electric car startup Li Auto said it delivered more than twice as many cars in May versus a year ago. For a third-straight month, Li Auto’s deliveries topped 20,000 with a climb to 28,277 vehicles in May, according to a release Thursday. That’s up by about 146% from a year ago. In contrast, competitors…
Exchange rates for GBP against major currencies on June 2, 2023
LONDON: The latest exchange rates for GBP against major currencies such as USD, EUR, JPY, AUD and more. Stay up-to-date on the latest fluctuations and trends in the GBP-exchange market. According to www.exchangerates.org.uk: GBP-EUR 1.1636 Pounds to Euros GBP-USD 1.2533 Pounds to Dollars GBP-NZD 2.0556 Pounds to New Zealand Dollars GBP-AUD 1.8952 Pounds to Australian…