Category : Bookkeeping

When a publicly traded company in the United States issues its financial statements, the financial statements have been audited by a Public Company Accounting Oversight Board (PCAOB) approved auditor. The PCAOB is the organization that sets the auditing standards, after approval by the SEC. The role of the Auditor is to examine and provide assurance that financial statements are reasonably stated under the rules of appropriate accounting principles. The auditor conducts the audit under a set of standards known as […]

SAP solutions can also be used to create forecasts, such as when a machine needs to be repaired or how revenue will develop in the next half year. ERP offers numerous benefits, most of which definition erp come from information sharing and standardization. Because ERP modules can share data more easily than disparate systems, they can make cross-departmental business processes easier to manage. Here are 4 suggestions on how to leverage your data for “as-a-service” offerings. Learn why almost 10,000 […]

Once all departments are tied into the system, all data is collected on the server and becomes instantly available to those with permission to use it. Reports can be generated with metrics, graphs, or other visuals and aids a client might need to determine how the business and its departments are performing. An SAP Account gives you the ability to access industry research, free trials, participate in the SAP Community and so much more. Use our events finder to view […]

The board said that for an amortization period a company’s management can deviate from the default period if management could justify the reasons for doing so. The amortization period would need to be elected on a transactional basis. The FASB on December 16, 2020, tentatively said it would require public companies to amortize goodwill over a 10-year period on a straight-line basis only, without exception. Starting in 2014, private companies can elect to amortize goodwill on a straight-line basis over […]

As much as it may initially seem like choosing a payroll calendar is no big deal, the reality is that it can have a major impact on your workers and business. Before you decide how often to pay your employees, consider all your options and compare their benefits and drawbacks. If you deduct benefits from your workers’ paychecks, a bimonthly schedule is a smart choice. Since many types of benefits, including health insurance benefits, come with premiums that are charged […]

The dividend yield tells you the most efficient way to earn a return. Unsurprisingly, the dividend yield is one of the most common metrics used by income investors for comparing different income-paying assets. A dividend is the total amount of money that an investor receives as income from owning shares of a company, or another dividend-yielding asset, during the fiscal year. More specifically, when you hear people talking about dividends in dollar figures in the media, or elsewhere, they are […]

For features and functionality, we primarily looked for software that offered fully functional accounting software providing users with a long list of useful features. Sage Accounting software operates two monthly subscription plans―Sage Accounting Start and Sage Accounting. Sage Accounting Start is an entry-level accounting software plan ideal for self-employed and microbusinesses that costs $10 per month. It allows one lessor versus lessee user to create invoices, track payments, accept online card payments and create financial reporting. Advanced features, such as […]

While Colorado would be better off exploring deeper reforms, including ending TABOR, this measure itself would be a mixed bag in terms of revenue and tax fairness. The researchers at the Colorado Fiscal Institute have concluded that it is nonetheless a net benefit to the state. Polling conducted this summer by Magellan Strategies found voters split pretty evenly on the initiative. In Georgia, sales taxes collected in one month must be sent to the State Department of Revenue by the […]

This allows the company to get paid for their goods or services in good time and the customer gets a bargain by paying less. The sales discount account reduces a company’s total revenue, it is therefore said to be a contra-revenue account and is a debit. Giving a sales discount is one of the ways companies maintain their customers, encourage more patronage or reward early payment for goods or services received. That is, a sales discount as a contra-revenue account […]

A gift loan is any below-market loan where the forgone interest is in the nature of a gift. $100 of interest was credited on your frozen deposit during the year. You withdrew $80 but could not withdraw any more as of the end of the year. You must include $80 in your income and exclude $20 from your income for the year. You must include the $20 in your income for the year you can withdraw it. You must include […]