The best-fit line minimizes the sum of the squares of these vertical distances. Note that the least-squares solution is unique in this case, since an orthogonal set is linearly independent, Fact 6.4.1 in Section 6.4. But for any specific observation, the actual value of Y…

A bank reconciliation statement is a valuable internal tool that can affect tax and financial reporting and detect errors and intentional fraud. The frequency of bank reconciliation can vary based on your business’ specific needs. Some businesses balance their bank accounts monthly, after receiving their…

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Learn more about how Tipalti Expenses can save you time, money, and hassle. Naturally, expense reports are filed by employees so that they may be reimbursed for certain purchases later. The company must check whether all the items on the report are eligible for reimbursement…

Elizabeth has always had a knack for organization and details. She co-founded Rigits after 9 years in the industry as a bookkeeper, accounting specialist, and financial manager. CERTIFIED Bookkeeping experts you can trust to help you keep your accounting records accurate and up-to-date while you…