A control account also referred to as a controlling account, is an account within the general ledger that summarises all the transactions of a specific type. A control account has a corresponding subsidiary ledger that contains all the detailed transactions relating to that account, which may be in the hundreds or thousands. The purpose of … Read more
Like most business owners, you are probably wearing many hats. You are probably busy managing your core business activities while juggling many other aspects such as marketing, sales, customer service and bookkeeping. With all the competing priorities that business owners face daily, it’s no wonder that bookkeeping often gets pushed to the side, but this … Read more
A CFO or Chief Financial Officer is in charge of the company’s financial health. They are responsible for overseeing all financial aspects of a company, such as budgeting, accounting, cash flow and financial reporting. They are also responsible for financial planning, reviewing and analysing business risks and advising on company strategy. Traditionally, CFOs have been … Read more