Credit Risk

For example, if you’re getting a loan to buy equipment the equipment itself could serve as collateral. If you default on the loan, the lender can repossess the equipment and sell it to try and recoup some of its losses. Loss given default seems like a straightforward concept, but there is actually no universally accepted […]

Accounting for Inventory: The Impact of Inventory Discrepancies on Financial Reporting

The inventory team can miscount items or misclassify them in the files, or inventory in transit isn’t entered into the computer properly. In some cases, managers will deliberately overstate inventory to pad net income. Now, let’s assume that a mistake was made during the inventory count and the actual ending inventory was $60,000, not $70,000. […]

Matching Principle & Concept

Similarly, if a fee is earned for providing a service, the first test is to ensure that the service in question has been duly provided. If we include any revenue in a particular period, we should be sure of two key facts. There are many drawbacks to the matching notion, one of which is that […]

Income Statement Definition, Explanation and Examples

In accounting terms, depreciation is considered a non-cash charge because it doesn’t represent an actual cash outflow. The entire cash outlay might be paid initially when an asset is purchased, but the expense is recorded incrementally for financial reporting purposes. That’s because assets provide a benefit to the company over an extended period of time. […]

Standard Chartered Starts China Digital Yuan Exchange Services

As a solo attorney, managing your books via accounting software may get you started. Yet, if you own a small firm with multiple attorneys, employees, or contractors, hiring a bookkeeper is more than worth it. In fact, some bookkeeping tools such as QuickBooks and Xero integrate with your practice management tool, allowing you to easily […]

Тест-гадание: выберите избушку и узнайте, что ждет вас в личной жизни

Возможно есть подсознательные причины, которые мешают вам разбогатеть. Ранее мы предлагали пройти тест и узнать, что скрывает ваша личность, а сегодня расскажем о тесте, который поможет узнать, что не дает вам разбогатеть. Если вы хотите прекратить использовать iCloud на одном из своих устройств, узнайте, как выйти из системы и что происходит при выходе. После каждого […]

Australian GST calculator

If a supply is both wholly GST-free and wholly input taxed, then the supply is treated as being GST-free and not input taxed. We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations. The most common examples of input-taxed sales are […]

Find a Bookkeeper or Accountant Near You

ProLedge Bookkeeping Services is a Texas-based firm providing bookkeeping services to clients across the country. As for work arrangements, the majority of their openings are remote. Most jobs are full-time employee roles, although occasionally, the firm may hire on a contract basis. Consider the complexity of your tax return and what level of expertise you’ll […]

60 Best Bookkeeping Blogs and Websites To Follow in 2023

The cash-based accounting method is the simplest method, and makes it easier to track your cash flow in real time. You record transactions when the money actually enters or leaves your business, even if they were earned or billed earlier. Its twenty years since I began providing bookkeeping and payroll services to a few local […]