Working capital turnover ratio establishes a relationship between the working capital and the turnover(sales) of a firm. In other words, this ratio measures the efficiency of a firm in utilising its working capital in order to support its annual turnover. A high working capital turnover ratio implie...

Due to the nature of construction work, which involves multiple projects with varying costs and timelines, bookkeeping in this sector is complex. It requires a detailed understanding of contract specifics, including labor, materials, subcontractor expenses, and overheads. Effective bookkeeping helps...

Without consistent financial reports, it’s challenging to understand project profitability and make informed decisions. Manual reporting methods are time-consuming and prone to errors, resulting in inaccurate data. In summary, the importance of accurate financial reporting in construction projects...