Founded in 2009, the company has been providing businesses with the fully-managed virtual assistance they need to stay on top of their financials for over a decade. Next, they deftly manage invoices and expenses using various accounting software tools. Whether it’s QuickBooks, Xero, or FreshBooks, these virtual assistants are well-versed in leveraging technology to streamline your financial processes. […]
Double Declining Balance (DDB) depreciation is a method of accelerated depreciation that allows for greater depreciation expenses in the initial years of an asset’s life. As its name implies, the DDD balance method is one that involves a double depreciation rate. There are two types of accelerated depreciation methods, and both involve a multiple of […]
As the asset’s book value decreases, the depreciation expense also decreases. The underlying idea is that assets tend to lose their value more rapidly during their initial years of use, making it necessary to account https://www.bookstime.com/ for this reality in financial statements. Salvage value is the estimated resale value of an asset at the end […]
Shaun Conrad is a Certified Public Accountant and CPA exam expert with a passion for teaching. After almost a decade of experience in public accounting, he created MyAccountingCourse.com to help people learn accounting & finance, pass the CPA exam, and start their career. This account is used to record both increases and decreases to profits […]
Since $1.33/L is less than $1.50/L, we know that the 3 L bottle of juice is a better deal because it has a lower unit price, even though it has a higher price per bottle. ❗ For the last two modes, you must provide both the number of items and the weight or volume. The […]
It’s primarily used for long-term forecasting, financial planning, and external reporting. Companies use cash flow projections to support a variety of financial goals. Some of the most common ones include management of operational funds, debt repayment, and long-term growth planning. You must ensure inflows regularly exceed outflows to keep your business financially healthy—paying the bills […]
To do that, we need denver bookkeepers to learn as much about you and your business as possible. We’ll gather all of your information, compile the data, and create beautiful reports for you. Assisting Small Businesses and Entrepreneurs to Streamline Their Denver Bookkeeping, Initiate your journey with Roket Accounting. All of Boxelder’s Bookkeeping packages include […]
Gusto makes this easy with a separate “People” tab where you can add team members, view a company org chart, and even fully manage hiring, onboarding, and background checks via the Gusto Recruiting integration. Gusto’s payroll software is extremely intuitive to navigate—even for people who don’t have experience with payroll software. Although Gusto doesn’t have […]
They generate revenue by collecting transactional fees along the way. Other companies provide an intermediary service usually for a fee. LO 4.3Prepare journal entries to record the following business transaction and related adjusting entry. LO 4.2Name two types of adjusting journal entries that are commonly made before preparing financial statements? The accrual accounting method becomes […]
It may present either a gain or loss in each financial period in which the project is still active. The electricity company needs to wait until the end of the month to receive its revenues, despite the in-month expenses it has incurred. Meanwhile, the electricity company must acknowledge that it expects future income. Accrual accounting […]