par phil | Jan 29, 2024 | Bookkeeping
All expenses below sales revenue are often found expressed as a percentage of that revenue. As the first item listed on a financial statement, it becomes the pivot or anchor from which other line items are proportional to. With predictive analytics, your...
par phil | Juil 26, 2023 | Bookkeeping
Adhering to the matching principle is necessary for producing GAAP-compliant financial statements. As businesses strive to remain competitive, avoiding misrepresentation through accurate cash accounting entries becomes paramount. Accrual accounting, supported by GAAP...
par phil | Mar 24, 2023 | Bookkeeping
According to the bank column in his cash book, Bob had $420 in the bank on 31 October. On that same date, the statement from the bank showed a credit balance of $495 for the account. To find the problem, you need to go through the previous month’s cash book and...
par phil | Juil 21, 2022 | Bookkeeping
Rates often increase during tax season (January through April) when demand is highest. Consider engaging a CPA during their off-season when they may offer discounted rates or have more availability to discuss cost-saving strategies for your specific situation. Hiring...
par phil | Jan 31, 2022 | Bookkeeping
As part of an EA’s job responsibilities, he or she often develops a strategy for handling matters Online Accounting with the IRS. In this capacity, enrolled agents work to reach satisfactory agreements regarding plans, payments, estimations, and settlements. Due to...
par phil | Nov 16, 2021 | Bookkeeping
For example, consider a company’s employees are paid on the 1st of every month for their previous month’s services. Therefore, upon preparing the balance sheet for the current financial year, employee wages for December would be covered under accrued expenses since...
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