Shreeji Accounting

  Understanding the classification of accounts receivable is crucial for any business owner or financial professional. Accounts receivable (AR) represents money owed to a company by its customers for goods or services delivered but not yet paid for. This financial concept can sometimes lead to confusion regarding whether it is classified as an asset or a liability. In this blog, we will clarify the nature of accounts receivable and how to identify its classification on a balance sheet, as explained by experienced accountants in Werribee. What is Accounts Receivable? Accounts receivable is essentially a promise of payment from customers. When a business sells products or services on credit, it records the amount owed as accounts receivable. This entry reflects the expectation of future cash inflow, making it a vital component of a company's financial health. Is Accounts Receivable an Asset? Yes, accounts receivable is classified as a current asset on the balance sheet. Here’s wh...

Consider yourself a business owner attempting to predict the future of your firm only based on your financial statements. Accountants can assist you in understanding the figures in this situation. An accountant you can trust can help steer your company towards a better future by providing crucial guidance on everything from tax planning to financial forecasting. When it comes to assisting businesses in making wise decisions, accountants are indispensable.  Accurate Financial Reporting Business owners must have a clear understanding of their financial situation. Accountants in Werribee can assist you in determining areas where you may strengthen your financial situation and guarantee that your financial statements fairly depict the success of your company. You may make better judgements regarding pricing, product offers and investments by doing a cost analysis. Risk Management Although there are hazards in every firm, accountants in Point Cook can assist you in managing and ...

Have you recently opened a start-up? You may have decided to uniquely help people get what they need. But through this unique approach, you need to find the best way to succeed. Nothing matters more than success and profits. So, what you need to do is make your financial pillars strong and stable. But since you cannot do this alone, consider opting for professional accounting in Werribee. This way, you can get top accountants on board to ensure growth and success for your start-up. But what steps do you exactly need to follow to assure yourself of the same? Look below. Organising and Planning The very first step in making your start-up business succeed is to properly organise and plan it. This, in fact, can ensure long-term success. You mainly need to craft a detailed business plan, which should primarily account for your findings from market research, handle cash flow, how you will generate more profits over time, and manage expenses. At the same time, you need a good accountant to ...