This accounting method presumes that your most recent (last in) products will be the first to sell (first out). If your inventory costs fluctuate between the first and last items, this bookkeeping...
If there’s an alternative to the traditional wire transfer, offer them a link with instructions on how to execute it. We recommend checking out Wise’s borderless account, which allows freelancers...
The relevant range, in managerial accounting and cost accounting, refers to the range of activity within which certain assumptions about cost behavior are valid. In other words, it’s the range of...
Investors can use the balance sheet to calculate a number of metrics that will help them better understand a company’s performance and financial situation. With a greater understanding of a balance...
In this guide, I will walk you through the journey of calculating sales percentages. Trust me, it’s not rocket science – and by the end of this, you’ll get greater clarity on how well...
Businesses are involved in thousands of business activities every single day. In order to record this financial data so that eventually we can produce the financial statements, we use the accounting...
If photography is more your thing, you can also consider photojournalism which also works from home. If you feel strongly about your writing skills and have ideas for novels, it’s possible to take...
Licenses and regulatory fees for your trade or business paid annually to state or local governments generally are deductible. You can deduct credit card late fees, annual fees, and any other fees...
Small businesses today can leverage tools like CCTV and digital video recorders with ease. For example, Shopify partnered with Google and Nest to help merchants use high-tech security cameras at an...
Rest easy knowing your reports are accurate with Yardi’s trusted, built-in accounting system to track your revenue and expenses. And since Breeze is in the cloud, you can work from anywhere and get...
Those inclined to give even small amounts to charity may be happier to give their $20 USD to a group in the knowledge that it will be turned into $40 USD by people willing to match the amounts. The...
Ou at the National Tsing Hua University in Taiwan took this further with a 2011 study. You then look at the close rates and potential deal values for each lead score. Finally, you multiply the close...
The best startup accountants have worked with multiple high-growth companies, and know which software and systems are ready for hyper growth. We talk to hundreds of startups a month – and about...
Finally, calculate the amount of retained earnings for the period by adding net income and subtracting the amount of dividends paid out. The ending retained earnings balance is the amount posted to...
If that isn’t possible, we try to make sure that a member of the bookkeeping team has the experience necessary to handle industry-specific questions that you may have. There are some times that...
Then, when the customer actually takes the discount, you charge it against the allowance, thereby avoiding any further impact on the income statement in the later reporting period. Trade discounts...
At Dakota Accounting, I partner with businesses just like yours to provide the information and support they need to meet their financial objectives. My cost-effective CFO and controller services are...
“Ideally, you want to start by paying off the debts with the highest interest rates,” says Bessette. The average debt-to-asset ratio by industry is provided on the Statistics Canada website....
