Business Asset Protection Strategies: Safeguard Your Personal Wealth

Including business assets in your estate plan allows you to make your business plans and estate plan flow smoothly. A breach of confidentiality lawsuit could occur if one party discloses sensitive or proprietary information without permission. For example, if an employee shares client details or a company’s internal data with a third party, the company could sue for damages. Confidentiality agreements help protect sensitive information and can serve as grounds for legal action if violated. If you are part
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Accrual vs Deferral: Understanding Key Accounting Concepts

Accrual vs Deferral: Understanding Key Accounting Concepts
The 4 main types of accruals are accrued revenues, accrued expenses, deferred revenues, and deferred expenses. These help your business match income and costs to the periods they’re earned or incurred, rather than when cash changes hands. Accruals and deferrals are key concepts in accrual accounting, which recognizes revenues and expenses when they happen rather than when cash is exchanged. They help ensure your business’s financial statements accurately reflect a business's financial health during a specific period. Adjusting entries
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