Bookkeeping

Delivery expense is an income statement account and accounts payable is a balance sheet account. Companies applying US GAAP as well as those applying IFRS can choose either a perpetual or periodic inventory system to track purchases and sales of inventory. While the tracking systems do not differ between the …

Ted decides it makes the most financial sense for Speakers, Inc. to buy a building. Since Speakers, Inc. doesn’t have $500,000 in cash to pay for a building, it must take out a loan. Speakers, Inc. purchases a $500,000 building by paying $100,000 in cash and taking out a $400,000 …

The Form 2441 must be attached to Form W-7 along with the U.S. federal tax return. Information on filing tax returns using an ITIN is available for tax professionals. Although an ITIN/SSN mismatch is created when electronically filing tax returns reporting wages for ITIN holders, programming changes allow acceptance of …

Unlike humans, AI lacks the innate ability to grasp everyday knowledge and social norms, which can result in logically correct decisions but are practically or ethically flawed. The increasing reliance on AI for tasks ranging from mundane chores to complex decision-making can lead to human laziness. As AI systems take …

A calendar of when recently-finalized FASB standards are set to take effect. A “one-stop shop” for investors, including the FASB’s most recent investor outreach report. GAAP pronouncements into roughly 90 accounting topics and displays all topics using a consistent structure. It also includes relevant Securities and Exchange Commission (SEC), guidance …

Content Journal Entries Perpetual vs Periodic Inventory Management The Cost of Goods Sold (COGS) What is the difference between periodic and perpetual inventory? Periodic Inventory vs. Perpetual Inventory: An Overview Introduction to Business Perpetual Inventory Once you go through a couple of quarters and evaluate the inventory reports, you will …

Content Bankrate Monthly 50/30/20 Budget Calculator The Bankrate promise Cost Structure Management and Ratios Fixed and Variable Cost Formula How to save on fixed and variable costs Variable costs are usually easier to adjust, while fixed costs can be more challenging. For instance, it’s easy to adjust your food spending …

The OSC can help workers by calling employers and explaining proper verification practices and, when necessary, by providing victims of discrimination with charge forms. Upon receipt of a charge of discrimination, OSC investigations typically take no longer than seven months. Victims may obtain various types of relief including job relief …

Content Type 5: Avoid using a C corporation Tax shield What is a tax shield? Depreciation Depreciation Tax Shield Calculator The tax shield refers to the amount of tax that has been saved by claiming depreciation as an expense. It’s calculated by multiplying the depreciation expense by the tax rate. …

Content How Are T Accounts Used in Accounting? T-Account Debits and Credits Visit the Bookstore Sen. Tim Scott says people point out that he’s single because they ‘can’t say I’m Black’ TRANSACTIONS ARE CATEGORIZED INCORRECTLY What Are T Accounts? Definition and Example T-accounts can be extremely useful for those struggling …