If you don’t have a background in finance or accounting, it might seem difficult to understand the complex concepts inherent in financial documents. However, taking the time to understand financial statements, such as learning how to read an income statement, can go far in helping you advance your career. The primary purpose of an income […]

Retained Earnings are listed on a balance sheet under the shareholder’s equity section at the end of each accounting period. To calculate Retained Earnings, the beginning Retained Earnings balance is added to the net income or loss and then dividend payouts are subtracted. Retained earnings are calculated by subtracting dividends from the sum total of […]

To do this, a reconciliation statement known as the bank reconciliation statement is prepared. Businesses maintain a cash book to record both bank transactions as well as cash transactions. The cash column in the cash book shows the available cash while the bank column shows the cash at the bank. Deposits in transit are amounts […]

You must atone, apologize, and beg forgiveness for the thousands of LGBT lives you have taken. I did not have to feel like I was begging and not able to take care of myself, and they helped me build those little bits of confidence. Tired of sales pitches from ed tech providers, one school superintendent […]

You can easily add and manage your accounts, create invoices, and track payments. You’re able to easily connect your bank account and credit cards to import transactions. You’ll also be able to sort transactions and create rules on how you want your expenses to be categorized. With QuickBooks, you’ll never have to worry about missing […]

FIFO and LIFO also have different impacts on inventory value and financial statements. Under FIFO, older (and therefore usually cheaper) goods are sold first, leading to a lower average cost of goods sold. In contrast, LIFO results in higher COGS and lower reported gross income. When sales are recorded using the LIFO method, the most […]

We will help you transfer any existing payroll information to QuickBooks. Attract skilled applicants, retain your best employees, and help them grow with you. I could also use filters to group data by department or pay type, for example. Payroll is a liability, as are all expenses related to it like wages payable, salaries payable, […]

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In these cases, under the current regulations, the reviewing authority and the public are not provided notification that records are being maintained as required by the reasonable possibility in recordkeeping provisions. Mastering project accounting is essential for agencies that are managing multiple projects. Effectively managing revenue, costs, and profitability on a project basis is key […]

In almost all jurisdictions, if you want your driving privileges returned after a drunk driving conviction, you will have to complete an alcohol and drug education and assessment program. For some drivers, it feels humiliating to have to appear in public to answer drinking and driving consequences charges of driving drunk. Often, individuals charged with […]