Because of this decrease in reliance on labor and/or changes in the types of production complexity and methods, the traditional method of overhead allocation becomes less effective in certain production environments. To account for these changes in technology and production, many organizations today have adopted...
But before you can move forward, it’s important to determine what your loan costs, and whether you can afford it. This being said, here’s what you need to know in order to analyze the affordability of your potential small business loan. To mitigate the risk...
The depletion rate per unit of a natural resource or asset depends upon the total number of units expected to be extracted. This is calculated by dividing the depletion base less salvage value (if any) by the number of units expected to be extracted. Since...
According to a 2017 review, muscle myopathy is common in alcohol use disorder. In addition, about 40 to 60 percent of people who experience chronic alcohol misuse also experience alcohol-related myopathy. This condition can be acute, affecting people for a short period of time...
This way, you can ensure your business is in solid standing and never be caught off-guard. Maintaining accurate financial records makes it easier to organize your taxes when it comes time to file. Regular bank reconciliation saves you from having to review a full year...
This ability to listen can help you provide better service to your clients and make you a more effective accountant. Additionally, taking part in networking events and professional organizations can also provide opportunities to practice and improve your communication skills. Additionally, you may need to...
If the revenues come from a secondary activity, they are considered to be nonoperating revenues. For example, interest earned by a manufacturer on its investments is a nonoperating revenue. Interest earned by a bank is considered to be part of operating revenues. The book value...
Under LIFO, you’ll leave your old inventory costs on your balance sheet and expense the latest inventory costs in the cost of goods sold (COGS) calculation first. While the LIFO method may lower profits for your business, it can also minimize your taxable income....
It’s added to the price you paid for the goods plus shipping costs, and quickbooks online journal entry you may have to pay it before customs will release the shipment. You can generally claim the cost back when submitting a GST return. The IVL applies...
It connects with Stripe, Square, BluePay and FreshBooks Classic, and that’s it. That might be all many businesses need, but clearly the likes of FreshBooks Online don’t think so. FreshBooks boasts enough integrations to put itself at the heart of any small company’s financial ecosystem....