AssetYogi

Materiality Concept as per GAAP and FASB – Materiality principle

Some business dealings are negligible to warrant mentioning in a financial report. The idea of materiality is used to determine what information should be included in a financial statement and what information should be omitted so that the statement is as concise and unified as possible for use in an external study of the company’s […]

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Bookkeeping – Definition, Types and Importance of Bookkeeping

You’ve probably heard the word “bookkeeping” used multiple times in relation to business and finance. To give you a gist, bookkeeping is essential for every business, regardless of the company’s transactions, industry, nature and size.  Whenever you are commencing a business, maintaining proper records is essential. So, to help you understand the concept of bookkeeping,

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