Published on April 21st, 2023.

IFRS vs. GAAP

IFRS and GAAP are two accounting standards and principles adopted by numerous countries around the world. Accounting guidelines are crucial to preparing accurate financial statements that will provide investors with co…

Published on April 6th, 2023.

Debits vs. Credits

Debits and credits make up the double-entry system, in which every transaction involves the two accounting entries. Debits (DR) correspond to the left side of the general ledger and generally record the money flowi…

Published on February 15th, 2023.

The tax season can be a stressful period for many. To help ease the tax filing process, here is some general information that will help you prepare for the upcoming 2023 tax season. 

Dates and Deadlines

• February 20th, 2023: Open…

Published on February 2nd, 2023.

In accounting, there exist four basic financial statements: the statement of financial position, the statement of earnings, the statement of changes in equity, and the statement of cash flows. Each statement is used to provide fin…

Published on January 7th, 2023.

As a business owner, you have a lot on your plate. From managing your employees and keeping up with the day-to-day operations of your business, to dealing with the various financial aspects of your company, it can be overwhelming t…

Published on October 26th, 2022.

In accounting, you’ve probably heard of the term bookkeeping. This term is often used interchangeably with accounting; however, the two practices have a subtle distinction between them. So, what is bookkeeping? What is the differe…