Bookkeeping

Demand fluctuations, competitor pricing, and industry trends may require adjustments. In price-sensitive industries like consumer electronics, wholesalers often use tiered pricing models, offering lower rates for larger orders. In contrast, sectors with specialized or limited-supply products, such as pharmaceuticals, may prioritize maintaining margins over maximizing sales volume. Please fill out the form below and one …

Bookkeeping for Wholesale Distributors: Effective Strategies Revealed Read More »

The objectives of (general purpose) financial reporting serve many different information users who have diverse interests, and no one predetermined result is likely to suit all users’ interests and purposes. The possibility of error in measuring information and business events may create difficulty in attaining high degree of reliability. Thus, measurement constraints in accounting place …

Top 11 Qualitative Characteristics of Accounting Information Read More »

External auditors are mainly responsible for providing an opinion on the accuracy of the financial statements. By conducting regular internal audits, organizations can identify and address potential problems before they become significant issues. Following the ICAEW Code of Ethics is crucial to ensuring internal vs external audit that you operate ethically as an external or internal auditor. …

External Audit vs Internal Audit: Whats the Difference? Hilbert College Global Campus Read More »

Ready to see how Givebutter can help you Top Benefits of Accounting Services for Nonprofit Organizations You Should Know stick to your budget and accomplish your mission? This infographic will guide you in choosing the right BoardSource template for your organization. 3 Please note that funds relating to Currencycloud’s services are not FDIC insured or …

Budgeting for Nonprofits Read More »

That’s because it includes all cash inflows from ongoing operations and external investment sources, as well as cash outflows for business activities and investments in a given time period. Cash flows are reported on a cash flow statement, which is a standard financial statement that shows a company’s cash sources and use over a specified …

How to Read & Understand a Cash Flow Statement Read More »

If the company does not remit the sales tax at the end of the month, it would record a liability until the taxes are paid. The sales tax expense is considered a liability because the company owed the state the money. We will discuss more liabilities in depth later in the accounting course. Notes Payable – …

Liability: Definition, Types, Example, and Assets vs Liabilities Read More »

Shares outstanding are the total shares of a company currently held by shareholders. Note that stock splits and stock dividends are treated as if they occurred at the beginning of the period (and retroactively for prior periods presented). Here’s how to find and calculate the amount of preferred stock outstanding from a company’s balance sheet. XYZ then …

Treasury Stock Method TSM Formula + Calculator Read More »

After almost a decade of experience in public accounting, he created MyAccountingCourse.com to help people learn accounting & finance, pass the CPA exam, and start their career. Now, you are ready to record a depreciation journal entry towards the end of the accounting period. Salvage value plays a key role in tax reporting, influencing depreciation …

How Salvage Value Influences ROI and Depreciation Read More »

It is used exclusively for mortgage payments that cannot be fully applied to a loan account immediately. Accurate bookkeeping lies at the center of ensuring efficient financial reporting. However, as organizations scale, they experience increasing transaction volumes with added complexity. Reconciliation: How to Reconcile Suspense Accounts? For the past 52 years, bookkeeping Harold Averkamp (CPA, …

What Is A Mortgage Suspense Account? Read More »

QuickBooks Online is one of the preeminent cloud-based accounting software platforms on the market. With four plans available, there are several options from which to choose, depending on your needs. In this guide, we’ll break down QuickBooks Online pricing, including plans, key features, and alternative platform costs so you can decide which option is best …

QuickBooks Pricing 2024: How Much Does QuickBooks Cost? Read More »