Rich vs Wealthy, despite their unique connotations, the rich have become more difficult to distinguish. The longevity of a person’s wealth is a defining characteristic of a wealthy individual. The rich have enough assets amassed that they need not worry about running out of money shortly. Being wealthy without ever being successful is a common […]
Double Declining Balance Method: Also known as the reducing balance method, a double declining balance is an accounting term. It refers to how you account for the expense of an asset. It is primarily used when you want to use an accelerated depreciation method. A very basic explanation of a double declining balance is that […]
Operating cash flow is a familiar accounting term that is related to direct business operations. The important calculations used are helpful when getting a clear outlook of the growth and expansion of a company. For a growing business, there are the financial projections that will matter the most. OCF Operating cash flow helps a company […]
Gross Profit Ratio is calculated by dividing your revenue by your gross profit. Owning a small business isn’t easy; it can take a while before it actually starts becoming profitable. There should be an easy way to determine whether you’re actually making money or not. Luckily, there is! It’s called the gross profit ratio, and […]