What is an Income Statement?
The income statement shows revenue, costs, and expenses over a specific period and produces a net profit or loss figure that indicates […]
What is Holdback?
A holdback is a portion of each progress payment withheld by the client until a defined period after project completion, a legal […]
What is the difference between Gross and Net Profit?
Gross profit is revenue minus the cost of delivering a product or service; net profit is what remains after all operating expenses, […]
What is Grant Accounting?
Grant accounting is the discipline of tracking, recording, and reporting on each grant separately to prove the money was spent as required […]
What is Fund Accounting?
Fund accounting tracks resources in separate, purpose-restricted pools to demonstrate that money was used as intended, the standard approach for Canadian non-profits […]
What is Active Business Income?
Active business income is the profit a corporation earns from actually running a business, and it is the income that qualifies for […]
What are Financial Statements?
Accounts receivable financing is a funding arrangement where a business borrows against or sells its outstanding invoices to access cash before customers […]
What is Financial Reporting?
Financial reporting is the regular production of structured financial information for the people who need it: owners or management making decisions, lenders […]
What is a Financial Dashboard?
A financial dashboard is a curated, visual summary of the most important business metrics, designed to show what is on track and […]
What is EBITDA?
EBITDA is earnings before interest, taxes, depreciation, and amortization, the most widely used proxy for a business’s operating performance in any valuation […]
What is the difference between Direct and Indirect Costs?
Direct costs are tied specifically to delivering a product or service; indirect costs support the business overall and cannot be traced to […]
What is Department-Level Reporting?
Department-level reporting breaks financial performance down by team, function, or business unit, showing not just whether the business made money, but where […]