Content Accounting Equation: What You Need to Know for Your Small Business What Is Shareholders’ Equity in the Accounting Equation? Fundamental Accounting Equation What is the Accounting Equation? Answer It is important to have more detail in this equity category to understand the effect on financial statements from period to period. This may be difficult […]
Category Archives: Bookkeeping
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Once the company has its total interest paid for the year, it divides this number by the total of all of its debt. This formula is useful because it takes into account fluctuations in the economy, as well as company-specific debt usage and credit rating. If the company has more debt or a low credit […]
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Having a larger quantity of personal assets also makes it easier to obtain loans as well as favorable terms on these loans. The primary difference between personal assets and business assets is who they belong to, and that results in the differentiation of the assets. These are more traditional assets, such as stocks, bonds, and […]
Content Changes Not Affecting Consistency Standard-setting Summary of IPSAS Accounting Policies Disclosures relating to changes in accounting estimates Change in Reporting Entity Ready To Make a Change? A company should disclose the cumulative effect of the change on retained earnings as of the earliest period. If retrospective application is impracticable, CPAs should disclose why and […]
Content Get Tips On Job Searching Access to detailed records of all transactions Self-Employment and Freelance Opportunities Help! I Want To Start A Virtual Bookkeeping Business But Need Step By Step Guidance Seek an internship or training placement. Second Career Path: Get Experience Almost every business — large and small — benefits from the services […]
There’s a little bit of a learning curve, but just like with anything. And she has written prolifically, I think her book is called Everything Happens And Other Lies I’ve Been Told. And she’s got a really great podcast and she had a guest in October. I’m kind of going through some back episodes. Have […]
The owner of a truck is told that the truck needs a new engine, which will cost $2,500. The owner can instead elect to sell the truck to a junkyard, which is willing to pay $600 for the truck and then sell off the parts. Thus, the owner has the choice of spending more money […]
Other responsibilities include record keeping and planning for tax purposes and maximizing business tax returns. This person should not only have the qualifications and experience to assist with taxes, but also have specific knowledge of the intricacies of business taxes. A CPA, or certified public accountant, is a highly skilled financial specialist who has been […]