It created its Accounting Partner Program to help bookkeepers and accountants, focusing on a collaborative approach to managing their books. Quickbooks offers numerous courses to prepare you for the ProAdvisor certification exam. However, they aren’t necessary — you can take the exam if you’re confident you’ll pass based on your Quickbooks experience. Quickbooks is one …
The global adherence to the double-entry accounting system makes the account-keeping and -tallying processes more standardized and foolproof. Nabil invests $10,000 cash in Apple in exchange for $10,000 of common stock. Assets are resources the company owns and can be used for future benefit. Liabilities are anything that the company owes to external parties, such …
Having a poorly trained staff that doesn’t properly follow regulations could cost your company big. Without the resources of a large corporation, it’s hard to put together such an experienced staff. Several industries have strict privacy and security requirements that can add costs to maintaining a staff. Explore seven transformative applications and discover how is …
Why outsourcing makes sense in the modern business world Read More »
If left up to Pretrial Services alone, then hours would be considered a reasonable turnaround time. Negative PR does not build on anything new, but rather deals with the response to any negative connotations surrounding a brand’s reputation. In that sense, practices in this area are ex post facto (after the fact) actions that will …
What is PR? Definition & Meaning of Public Relations Read More »
As businesses have to abide by the unclaimed property laws, any checks that have been outstanding for a long time must be remitted to the state as unclaimed property. As such, there is no incentive to wish for an outstanding check to permanently never be cashed as the payment is subsequently owed to the government …
Stale Check Law: Will Banks Honor Stale-Dated Checks? Read More »
There are several key rules of bookkeeping to keep in mind, but one of the most important is regarding debits and credits. In other words, debit is all incoming money, while credit is all outgoing money. However, if you want more advanced reporting and a more robust mobile experience, you’re better off looking at other …
Bookkeeping, Accounting & Controller Services for Small Businesses Read More »
Let’s assume that at the end of a period, we have 1000 units of raw materials left. Of those 1000 units, 600 were purchased at one price, and 400 were purchased earlier at a different price, as shown below. To calculate ending Inventory cost using the how to figure out which irs payment plan is …
Inventory Costing Approaches: FIFO and Weighted Average Read More »
However, if the amount spent on an extraordinary repair is immaterial, it is more efficient from an accounting perspective to charge the cost to expense as incurred, rather than adjusting the fixed asset records. Similarly, if a machine’s expected life is only prolonged by a few months, it is more efficient to charge the repair …
In addition, changes in prices and industry trends can make historical data an unreliable predictor of future overhead costs. Finally, using a predetermined overhead rate can result in inaccurate decision-making if the rate is significantly different from how to calculate predetermined overhead rate the actual overhead cost. Big businesses may actually use different predetermined overhead …
How to Calculate Predetermined Overhead Rate: Formula & Uses Read More »
A construction company that used cost reporting to monitor and control the progress and budget of a large-scale project. This means presenting the cost data and metrics in a clear, concise, and consistent manner, using tables, charts, graphs, and narratives. The cost report should follow the standards and guidelines of the organization and the industry, …
