Archive | Bookkeeping

Identifying these risks can help businesses develop contingency plans to mitigate the impact of these events. Fifth, they need strong organizational skills to manage the budgeting process effectively. Preparing a master budget involves several steps, such as creating the sales forecast, production plan, and marketing budget. The cash budget will monitor the company’s cash flow […]

Content General Provisions for Selected Items of Cost Subpart C—Pre-Federal Award Requirements and Contents of Federal Awards How To Setup A Successful Virtual Accounting Team Do I need accounting software for my small business? Client doesn’t have to provide benefits Management Consulting It gives one user access, enabling them to manage clients and invoices, create […]

Profit is the money you have after you account for expenses, debts, operating costs, and any additional income. Choosing which accounting method is largely up to the business and its financial team. However, large companies (income over $5 million per year) may need to use the accrual basis for tax purposes from the Internal Revenue […]

Content Why Do Companies Prefer Long-Term Debt? What Are Current Liabilities? Owner’s Equity Long-Term Liabilities: Definition, Examples, and Uses Examples of Other Long-Term Liabilities in a sentence The third part is equity or money put into the company by founders or private investors. These three accounts, or aspects of a company’s finances, cover nearly every […]

Content How to Calculate Net Pay from Gross Pay? The Small Business Guide To Payroll Deductions What Goes Into Gross Pay Banking basics It’s called the Social Security wage base and is $160,200 for 2023. Any earnings above $160,200 aren’t subject to Social Security tax. Gross pay represents what you earn before taxes and all […]

Earnings per share is a measure that compares a company’s net income compared to the outstanding shares. The price-to-earnings ratio, or P/E ratio, is another commonly used metric that factors in the company’s stock price in relation to EPS. By contrast, the balance sheet shows the companies assets, liabilities, and shareholder equity. This helps to […]

Content Derecognition (retirements and disposals) Is Accumulated Depreciation a Credit or Debit? Accumulated Depreciation on a Balance Sheet We comment on the IASB’s proposed amendments to IAS 16 Accumulated Depreciation vs. Accelerated Depreciation Depreciation is recorded to tie the cost of using a long-term capital asset with the benefit gained from its use over time. […]

Content Top 21 International Alliances and Associations 20… Reporting Meet Accountancy Europe Political campaign accounting Online CPE Reporting Master of Accountancy Online Admission Requirements Ken is a Partner in Marcum’s Advisory & Consulting Services Group with over 30 years of experience in the public accounting profession. Ken serves as the engagement partner on many of […]