Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. Bench assumes no liability for actions taken in reliance upon the information contained herein. Returning to our cat... Read more
This is important to know for businesses that operate by distributing their products in bulk to other outlets. Check with the laws in your area to ensure you do not unnecessarily charge a sales tax. If your business consists of mostly selling product... Read more
Alternatively, the future value of $3,000 in one year's time equals $3,000 multiplied by 1.10 percent, or $3,300. Another issue with relying on NPV is that it does not provide an overall picture of the present value formula gain or loss of executing... Read more
Your pension liability can be figured out by subtracting the total amount due to retirees from the money you plan on using to make the pension payments. When you acquire a capital lease for an asset, all the rights and ownership transfer to you. For... Read more
With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. In accounting and business, the breakeven point is the production l... Read more
A key component of a robust system of internal controls is proper segregation of duties. Segregation of duties involves separating the tasks of handling assets (cash, inventory, receivables, etc.), recording transactions in books and records and reco... Read more
In other words, the company would have to sell off all of its assets in order to pay off its liabilities. This form of leverage involves a company or organization trying to boost operating income by hiking revenue. A company that produces sales figur... Read more
After preparing the financial statement, all the temporary accounts must be closed at the end of accounting period. The accounts which collected information about revenue and expenses for the accounting period are temporary.Closing entries to the gen... Read more
Your online resource to get answers to your product and industry questions. Connect with other professionals in a trusted, secure, environment open to Thomson Reuters customers only. Try our solution finder tool for a tailored set of products and ser... Read more
Agenda Get Professional Help When Needed Save All Your Financial Records and Back Them Up Keep Track of Inventory Plan for Major Expenses Automate Whatever You Can Do Regular Checkups Learn to Understand Monthly Bo... Read more
