Practical Accounting, Finance & Business Analysis
In the world of forensic accounting and fraud detection, subtle patterns can reveal massive financial deception. One such pattern is Benford’s Law, a statistical principle that has become a powerful analytical tool for auditors, forensic accountants, and data scientists in identifying anomalies and possible fraud. In this guide, we’ll explain what Benford’s Law is, why…
Using Microsoft Excel Businesses acquire several types of fixed assets or plant assets for their operations. Those long term assets benefit more than one period; thus, the cost must be allocated between reporting periods. As we know, various methods for allocating exist such as straight line, sum of the years, double declining and others. As…
Using Microsoft Excel / Google Sheets Do you have credit sales? Do you feel cumbersome keeping track of due dates and aging accounts receivable? Would you like to have your clients on a worksheet easy to maintain? The answers to these and other questions can be answered with an Account Receivable Subsidiary with an Aging….
Using Google Sheets / Microsoft Excel This post is about creating a Payroll worksheet. You can create a functional payroll worksheet using Google Sheets or Microsoft Excel. You can keep track of one or more employees, with different rates and deductions. In the image, I show you an example with some data for purposes of…
Financial forecasting is one of the most important disciplines in accounting, FP&A, and business management. A well-designed forecast helps organizations estimate future revenue, expenses, profitability, cash flow, staffing requirements, capital needs, and other key performance indicators. But forecasting is not simply about taking last year’s numbers and adding a percentage. A professional forecast combines historical…