The warrants are measured at their fair value of $4,975.12 and are not subsequently re-measured. Both methods have their advantages and disadvantages, and both are acceptable depending on the facts and the issuer’s reporting style. These mater... Read more
They then code the invoices with the proper general ledger information and obtain approval for payment. Bookkeepers check to pay the invoices and ensure bills are paid in a timely manner. Accounts payable might also include making credit card paymen... Read more
Now that we have completed the accounting cycle, let’s take a look at another way the adjusted trial balance assists users of information with financial decision-making. Financial ReportsFinancial Reporting is the process of disclosing all the... Read more
The purpose of the post-closing trial balance is to check the debits and the credits once the accountant passes the closing entries for the transaction. It includes only the real accounts as all the nominal accounts are closed at this time. The secon... Read more
An enrolled agent must take and pass the IRS Special Enrollment Examination , although a college degree isn't necessary. The exam is eight hours over two days, and it covers all aspects of federal tax law, including taxation of individuals, corporati... Read more
An enrolled agent is a federally authorized tax practitioner empowered by the U.S. Department of the Treasury to represent taxpayers before the IRS for tax issues including audits, collections and appeals. To become an enrolled agent one must pass an... Read more
A simpler way to describe this is to call it the “tone at the top.” It is highly important because it filters down to other employees and to all other components of control and can, therefore, have a huge impact on the company. The last c... Read more
The Working Capital Ratio is employed by financial analysts, investors and lenders to determine a business’ capacity to cover for its short-term financial commitments. Boiled down to its essence, net working capital is a financial ratio describ... Read more
The goods that were stored in WIP that have completed the manufacturing process are credited to the WIP inventory account and debited to the finished goods inventory. Superior Glass also incurs $1,250 in factory overhead costs during the accounting p... Read more
The post-closing trial balance contains real accounts only since all nominal accounts have already been closed at this stage. A Post-closing Trial Balance lists all the balance sheet accounts that have a non-zero balance at the end of a reporting per... Read more
