For a business owner, it’s your best tool for spotting operational leaks. It’s the number that cuts through the noise and reveals if a venture is actually as profitable as it looks on paper. I like to think of it as the “take-home pay” from a property’s day-to-day operations. To further determine the merits of […]

But, if you want to spend your time focused on practicing law rather than deep in the weeds of your law firm’s accounting and financial management, you may want to consider hiring help. One (or more) of these professionals can greatly assist with your law firm’s accounting. Additionally, law firms often operate with variable income […]

With the accrual basis of accounting, you record expenses as they occur, not when you pay. Before diving into some business examples on how to make journal entries for interest expenses, let’s first go over some accounting basics you’ll need to know. A company has taken out a loan worth $90,000 at an annual rate […]