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What is the purpose of a voucher?

A voucher is a document used by a company’s accounts payable department to gather and file all of the supporting documents needed to approve the payment o...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

How to set up accounting books for small business?

But, recording transactions doesn’t have to be a difficult task. The more you prepare your books, the easier recordkeeping will be. To help ensure your re...

What is net on demand accounts receivable?

Net receivables are the total money owed to a company by its customers minus the money owed that will likely never be paid. Net receivables are often expr...

What is LC and how it works?

A Letter of Credit (LC) is a document that guarantees the buyer’s payment to the sellers. It is issued by a bank and ensures timely and full payment to th...

What is the difference between gross income and total income?

In general, gross income is the total income you earn on your paycheck, and net income is the amount you receive after deductions are taken out. What is G...

Does GAAP require every company to report a statement of cash flows?

See KPMG Handbook, Statement of cash flows, to learn more about the US GAAP requirements. Here we summarize our selection of Top 10 differences. Under IFR...

How much does it cost to build an estore?

To build an online store, you need anywhere from $1000 – $100,000. There is no set price for building an online store because the cost varies for differen...

How do I write a letter to a friend giving advice?

Explain that you are responding to a request for advice about a problem or situation. Give your advice or suggestions. Explain the reasons why you feel th...

What environmental factors that can affect business?

Examples of environmental factors affecting business include: Climate. Climate change. Weather. Pollution. Availability of non-renewable goods. What are s...

Are there any limitations to the internal controls over financial reporting?

Our responsibility is to express an opinion on management’s assessment and an opinion on the effectiveness of the company’s internal control over financia...