In 2016, the Financial Accounting Standards Board drafted new Current Expected Credit Losses (CECL) reporting methods to reflect the needs of the market. For many businesses, these new standards dramatically increased the amount of detail involved in credit loss reporting. The increase in detail will likely lead to a more accurate understanding of the company’s financial situation. Finance managers and local tax attorneys looking to implement these new reporting standards should understand the new details. Here are five new CECL regulations

There are many common life insurance payout options for financial protection. These options typically refer to the methods in which the policies are paid out. Choosing these options often allows the beneficiaries to pay off significant expenses, such as funerals. As a financial professional, you should learn some alternative life insurance payout options that replace the deceased’s income and help their loved ones pay continuing expenses. To help you ensure financial stability, read on to learn about the most common life

There are several important steps to manage finances with a bad credit score. Importantly, your credit score is one of the most important measures for your financial health. Often, lenders evaluate it to see how responsibly you use credit. Additionally, if you have a higher credit score, it can be much easier to get approved for new lines of credit. As an individual looking to manage your finances with a low credit score, there are several steps you can follow. Indeed,

There are many financing options for business purchases. The capital needed to launch, maintain, and grow new businesses comes from a variety of sources, such as small business loans from various financial institutions. Due to this variety in financial sources, many entrepreneurs evaluate their options to determine the best fit for their specific needs and businesses. As an entrepreneur yourself, there are several steps you can take to familiarize yourself with these various financing types. Read on to discover a few

There are many great types of business bank accounts with no fees. All businesses need bank accounts for making deposits, paying bills, budgeting, and other various financial management processes. In fact, many CFOs split their business and personal expenses with business checking accounts. This way, they better prepare for tax season and establish their business’s finances more credibly. As a financial professional, you should eliminate fees and provide monetary accessibility with the right bank account type for your business. In this

An essential part of having good money sense in Singapore lies in opening the right type of bank account. With your own bank account, you can either build your savings, spend for your daily needs without obstruction, or manage different currencies. A bank account is a must-have for Singaporean citizens and long-time residents of the country, but you can also open one if you’re staying in Singapore for an extended period, for example on business or as a foreign exchange student.

Using Quickbooks’ asset tracking software can help make business financial systems more efficient to use. Compared to automated systems, manual asset tracking takes longer ad has a higher chance of errors. The fluctuating nature of asset pricing and related variables also means many man hours must be spent keeping the tracking system up to date. Finance managers looking to streamline their tracking systems need to understand how to take advantage of software asset tracking. The following is a guide on how

There are many ways free personal banking software manages finances. In fact, personal finance platforms are great for budgeting, investing, and tracking debt payments as well as savings goals. These solutions are designed to manage and track your capital more efficiently. As a user of these platforms, use personal finance solutions to set up systems for budgeting, income generation, and debt payments that fit your specific needs. Read on to discover how free personal banking software manages finances. Budgeting Providing budgeting