Category: Bookkeeping

Business drivers, explained as the crucial factors which lead to success in business, are more of an art than science. These factors differ widely depending on the industry, scope, and other market dynamics. The success factors of one business may directly account for the failures of another. Consider, for instance, the number of stores, identified… Continue reading Driver: What it is, How it Works, Examples

However, taxpayers who make large purchases during the year may find it more advantageous to deduct sales tax instead of income tax if the total sales tax payments exceed state income tax. Alaska, Delaware, Montana, New Hampshire and Oregon all do not have a statewide sales tax, although Alaska and Montana both allow local sales… Continue reading What Is Sales Tax? Definition, Examples, and How It’s Calculated

In addition, investors need to consider where the company is in its growth cycle. An early-stage company can, and probably should, hold a higher debt ratio because it’s fueling future growth. In contrast, a mature cash-generating company arguably doesn’t need such a high debt ratio because it should fund growth from its cash flow. For… Continue reading Total Debt-to-Total Assets Ratio: Meaning, Formula, and What’s Good

Click the link for little added motivation and distraction from the dullness of accounting. When setting up your Profit and Loss Statement, it is also important to consider which accounting method you are going to use. The two methods, Cash basis and Accrual basis, use different timing mechanisms to recognize revenue. Discover how Receive is… Continue reading Finance and Global Business Services

Your personal financial statement should be updated on a regular basis, typically once a year. This will help you track your progress and make sure you’re on track to reach your financial goals. A personal financial statement is a document that summarizes your assets, liabilities, and net worth. A PFS can tax dates and deadlines… Continue reading Personal Income Statement Template, Plus How to Make One

While bookkeeping in the construction industry can be challenging due to its many considerations, it’s an essential part of successfully running a construction firm. The main benefit of milestone payments is that you, as the contractor, don’t need to wait for payment until project completion. This tip works well with the previous tip, as it… Continue reading Bookkeeping for Construction Companies: The Ultimate Guide

They can help reduce the portfolio’s overall risk and ensure a steady stream of income. Investors should have a good understanding of the bond market and interest rate trends before investing in premium bonds. This knowledge can help them anticipate price movements and make informed decisions. These are the periodic interest payments made to bondholders… Continue reading Bond Discount and Premium Calculation & Example

This means that eBay will not be required to report sales of $600 or more to the IRS until January 2025. However, eBay will still be required to report sales of $20,000 or more and 200 or more transactions to the IRS. Additionally, Congress is considering a bill that would repeal the new $600 threshold… Continue reading How to Handle eBay 1099 Taxes the Right Way in 2024

Depreciation begins for CIP when construction completes, while there is no depreciation for WIP. During the project inception stage, construction costs are estimated and budgeted, ensuring that all expenses are accurately accounted for in the construction-in-progress account. This involves identifying the scope of work, analyzing project requirements, and determining the financial resources needed to complete… Continue reading Construction In Progress Accounting

He is currently an adjunct professor at the University of San Diego School of Business. He is a member of the American Institute of Certified Bookkeepers’ Advisory Board. The certified bookkeeper exam can be challenging without bookkeeping experience or education. AIPB suggests that candidates have at least some college-level bookkeeping education or professional experience before… Continue reading How To Become A Certified Bookkeeper: Certification And Requirements