Bookkeeping

Shareholders, analysts and potential investors use the statement to assess a company’s profitability and dividend payout potential. Retained earnings are also known as accumulated earnings, earned surplus, undistributed profits, or retained income. For reference, the chart below sets out the type, side of the accounting equation (AE), and the normal balance of some typical accounts […]

Regardless of who the payer is or the stated purpose, every potential audit inquiry should be taken seriously by your practice. These are only a few of the situations which can precede an audit or investigation. If you are not already running independent audits on a regular basis, any one of these red flags should

Automated payment gateways facilitate real-time payment processing, which means you get to update your records instantly and improve cash flow. It supports multiple payment methods, including ACH, wire transfers, and credit cards, providing both you and your customers with flexibility. The timeline of AR management evolution is characterized by a progression from manual, paper-based processes

In financial accounting the income statement is designed to show summaries of financial activity on a quarterly or an annual basis. There may be footnotes in an income statement that describe specific cash purchases, but this is not a reliable source for specific line-item details. Accounting journals are a great way to break down income

In conclusion, proper recognition and measurement of liabilities are essential for maintaining accurate and transparent financial statements. Understanding the criteria and measurement methods for liabilities helps organizations maintain a clear and confident financial position while facilitating informed decision-making. Assets are broken out into current assets (those likely to be converted into cash within one year)

The digital age has brought innovative tools to real estate accounting. These tools have made tasks more efficient, accurate, and accessible. They cater specifically to the unique needs of the real estate industry, ensuring that businesses have the best tools at their disposal. Recognizing revenue from property sales in real estate accounting demands careful consideration

Thelawyer must safeguard and segregate those assets from the lawyer’s personal,business or other assets. Do not let the accounting part of your business slip through the cracks while real estate accounting entries you focus on strengthening the foundations of your real estate business. Bookkeeping refers to the process of recording all the financial transactions taking

Determine the total cost of normal production and then compute what the total cost will be if one or more additional units are produced. Complete the calculation by taking the difference between the two figures and applying the incremental cost per unit formula. The formula is the difference in total cost divided by the number

That being said, a CPA license is usually more valuable to public accountants than private. Public accountants are responsible for ensuring that their clients’ financial documents are accurate and complete before being released to the public. Their daily job duties usually center on testing and analyzing the financial information their clients have prepared to make

CFAs are certified professionals who specialize in investments and portfolio management. To become a CFA, individuals must pass three exams covering economics, ethics, quantitative methods, corporate finance, equity investments, and derivatives. Candidates must also have at least four years of relevant experience before receiving their certification designation. Private accounting usually involves working for an individual