Pink-collar is an outdated term that was used to describe sectors that were historically dominated by women, including nursing and secretarial work. One of the newest types of collar colors is the green collar, which refers to jobs in the environmental sector. Since most blue-collar jobs pay by the hour, working overtime could mean that […]

Instead, the cost is spread out over the useful life of the asset through depreciation expenses. This allows the asset cost to be properly matched with revenues generated from using those assets over time. Matching principle is especially important in the concept of accrual accounting. How does the matching principle apply to depreciation? The matching […]

With cash accounting, this occurs only when money is received for goods or services. Accrual accounting instead allows for a lag between payment and product (e.g., with purchases made on credit). Adjusting journal entries are used to reconcile transactions that have https://www.fio.by/startapy/sotrydnikov-ishyt-touch-instinst-foksford-dodo-picca-i-edwin not yet closed, but that straddle accounting periods. These can be either payments […]

FIFO is an ideal valuation method for businesses that must impress investors – until the higher tax liability is considered. Because FIFO results in a lower recorded cost per unit, it also records a higher level of pretax earnings. FIFO has advantages and disadvantages compared to other inventory methods. FIFO often results in higher net […]

In most cases, companies receive payments through the bank for this process. However, companies may also issue shares in other cases, for example, in exchange for goods or services. When it issues no-par stock with a stated value, a company carries the shares in the capital stock account at the stated value. Any amounts received […]

Instead, the cost is spread out over the useful life of the asset through depreciation expenses. This allows the asset cost to be properly matched with revenues generated from using those assets over time. Matching principle is especially important in the concept of accrual accounting. How does the matching principle apply to depreciation? The matching […]

You have big goals for your business, and the time that you spend tabulating receipts and accounts payable is time that could be better spent working toward those goals. West Wind will help you understand the increasingly complex world of federal, state and local tax laws. We don’t just prepare taxes; we look for solutions alongside […]

In order to stay up to date on who owes you what, you’ll need to track accounts receivable. A small business can likely do all its own bookkeeping using accounting software. Many of the operations are automated in the software, making it easy to get accurate debits and credits entered. Once the entries are assigned […]

Home buyers don’t need to worry about the expense of hiring a buyer’s agent. Because the seller pays the commission for both the seller’s and buyer’s agents. To find real estate agents in your area, head to realtor.com/realestateagents, where you can also read online reviews provided by past clients and learn more. How Much Does An Appraisal […]

Accounting helps in the computation of the profits of different departments of an enterprise which help in fixing the responsibility of departmental heads. Unfortunately, no objectively verifiable method has been developed for universal application. As per Robert N. Anthony, “Accounting system is a means of collecting, summarizing, analyzing and reporting, in monetary terms, information about […]