Categoría: Bookkeeping

Get free guides, articles, tools and calculators to help you navigate the financial side of your business with ease. Not sure where to start or which accounting service fits your needs? Our team is ready to learn about your business and guide you to the right solution. But you can also check out our specific…

To qualify, borrowers must have a household income below 80% of their area median income (AMI) and pay at least 3% of the purchase price out of pocket. And read HUD’s list1 of other homeowner assistance programs in New Mexico. While Home Forward does provide mortgage loans, it can also be used as a stand-alone…

For instance, under GAAP, the straight-line method of depreciation is commonly used, which spreads the cost evenly across the asset’s useful life. Energy-efficient assets tend to have longer lifespans because they operate under less stress and can contribute to lower operational costs. It’s not merely a way to calculate a decline in value; it represents…

For instance, under GAAP, the straight-line method of depreciation is commonly used, which spreads the cost evenly across the asset’s useful life. Energy-efficient assets tend to have longer lifespans because they operate under less stress and can contribute to lower operational costs. It’s not merely a way to calculate a decline in value; it represents…

For instance, under GAAP, the straight-line method of depreciation is commonly used, which spreads the cost evenly across the asset’s useful life. Energy-efficient assets tend to have longer lifespans because they operate under less stress and can contribute to lower operational costs. It’s not merely a way to calculate a decline in value; it represents…

However, knowing how double entry works helps you understand what the software is doing behind the scenes. This knowledge is invaluable when reviewing financial reports, identifying errors, or making important business decisions based on financial data. For example, if a business owner takes out a loan, this is recorded as income in the single-entry system.…

So, a total cost of $429,800 is spent on producing 100,000 finished goods and a cost of $ 32,235 is incurred for making 7,500 equivalent finished goods. So, a cost of $ 4.298 is spent for manufacturing each unit of finished goods. This cost can also be separately assigned to totally complete units and WIP…

They ensure correct classification of salaries, benefits, bonuses, and taxes—reducing errors and making reporting smoother at month-end or during audits. Kristen Slavin is a CPA with 16 years of experience, specializing in accounting, bookkeeping, and tax services for small businesses. A member of the CPA Association of BC, she also holds a Master’s Degree in…

This simple strategy lays out consistent depreciation balances across the asset’s lifespan. Each method carries its own influence on financial statements and tax liabilities, so choose wisely and consider how the allocation of these costs will impact long-term financial planning. Sum-of-the-years’ digits is a bit more complex, offering a depreciation rate that changes each year,…

This explains why the accounts on the revenue statement are called temporary accounts. This represents the profit or loss made by the company over the period. Important ratios are gross margin, operating margin, and net profit margin. This income includes interest, dividend earnings, rent, and profit from selling non-business assets. Operating income only looks at…