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Due to this, they can seem very similar in their roles and responsibilities. However, there are a few main differences between bookkeeping and accounting. As a small business owner, employi… Read More
You offset the balances using something called “retained earnings.” Essentially, this is the profit or loss for the year that is “retained” in your business. When tra… Read More
Both methods result in increased equity and net worth for the company. This overstatement and/or understatement results in increased earnings per share or partnership profit interests or a h… Read More
For example, a business looking to purchase a building will usually take out a mortgage from a bank in order to afford the purchase. The business then owes the bank for the mortgage and cont… Read More
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While globalization of technology is not a new phenomenon, 21st-century is the era where science and technology are more geographically distributed, interconnected, and more dynamic than it… Read More
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In the late 19th century the era of economic globalisation officially started and the foundation for a Global Economic System was laid. The global economic system consists of legal agreemen… Read More