Tag Archives: #AssetsAndLiabilities

Could you provide a breakdown of your artistic assets and liabilities that you would consider including in a balance sheet draft?

Artistic Value Assessment   Artistic Value Assessment, When preparing a balance sheet draft for your artistic endeavors, you would need to consider both your assets and liabilities. Here’s a breakdown of what you might include: Assets: 1. Artistic Creations: This includes the value of your completed artworks, whether they’re paintings, sculptures, digital designs, or any other… Read More »

How is bookkeeping different from accounting?

Bookkeeping vs accounting

Bookkeeping vs Accounting   Bookkeeping vs accounting are two interrelated yet separate functions within the realm of financial management. The following are the fundamental distinctions between bookkeeping and accounting: Scope: Bookkeeping focuses on the systematic recording and organization of financial transactions. It involves tasks such as maintaining ledgers, recording income and expenses, reconciling accounts, and… Read More »