Danh Mục - Bookkeeping

  • What Is Net Income and Why Does It Matter?

    You can calculate your AGI by subtracting any deductions that you may qualify for from your gross income. The higher your gross income, the higher your tax liability will be, depending on your marital status, deductions and other qualifying credits. Therefore, if you earn $648, you only pay FICA…

  • What accounts for the difference in inventory values between periodic LIFO and perpetual LIFO?

    And what’s the difference between a periodic inventory system vs. a perpetual inventory system? The answer lies in the methodology, and today, the distinction is closely tied to software capability. This system allows the company to know exactly how much inventory they have at any specific time period. Moreover,…

  • Work In Process Inventory WIP: Definition, Formula & Examples

    The cost of raw materials is the first cost incurred in this process because materials are required before any labor costs can be incurred. Production costs include raw materials, labor used in making goods, and allocated overhead. Work in process (WIP) inventory refers to the total cost of unfinished…

  • Best Accounting Software for Nonprofits 2023 Reviews

    Set reports to be automatically created and emailed to board or committee members on any schedule you’d like. Nonprofits rely on accurate, timely financial information throughout the year. Here are a few items to watch closely each month on your nonprofit financial statements. Xero vs Sage (2023 Comparison) –…

  • Fact Sheet #66E: The Davis-Bacon and Related Acts Compliance with Fringe Benefit Requirements U S. Department of Labor

    It also cannot come in the form of stocks, bonds, or other securities. The exclusion also doesn’t apply to vacations, meals, lodging, and tickets to theater or sporting events. Fringe benefits are additions to compensation that companies give their employees. Some fringe benefits are given universally to all employees of…

  • What is Capital in Accounting Capital Account

    Note that working capital is defined as current assets minus its current liabilities. A company that has more liabilities than assets could soon run short of working capital. More specifically, it represents its ability to cover its debts, accounts payable, and other obligations that are due within one year.…

  • Accounting equation definition

    Your bank account, company vehicles, office equipment, and owned property are all examples of assets. If a transaction is completely omitted from the accounting books, it will not unbalance the accounting equation. This is how the accounting equation of Laura’s business looks like after incorporating the effects of all…

  • Finance and accounting outsourcing Services

    Comprised of over 3,400 professionals in the Philippines, the TOA Global team serves more than 1,000 accounting and bookkeeping firms worldwide. Their talent can handle over 100 different roles for their clients, including accountants, CPAs, bookkeepers, administrators, and more. In this article, we share some of the most common…

  • What Is Accounting? The Basics Of Accounting

    Note that in some instances, they may also be called the four principles, but they are different from the more specific ten principles above. Together, these principles are meant to clearly define, standardize and regulate the reporting of a company’s financial information and to prevent tampering of data or…

  • Understanding Outsourced Accounting Services: A Comprehensive Guide

    By conducting thorough due diligence, you can ensure a successful partnership that drives future success. Additionally, companies whose main function is not accounting often find it difficult statement of cash flows: free template andexamples to maintain employees who have sufficient skills in managing accounting tasks. One accounting function that…