Category: Bookkeeping

The course topics include employment-at-will, EEO, ADA, OSHA, and other laws affecting the workplace. This course covers how to analyze current trends and issues in employment law and apply this knowledge to manage risk effectively in the employment relationship. The difference between bookkeeping and accounting mainly lies in the type of record keeping and analysis.…

By analyzing the percentages of line items, you can make informed predictions and support strategic planning. Through careful interpretation of vertical analysis results, you can gain valuable insights into a company’s financial performance, strengths, and areas for improvement. A common-size statement of profit & loss is a statement in which the figure revenue from operations…

Therefore, learning about income summaries and other accounting tools in business is imperative. It can also be called the revenue and expense summary since it compiles the revenue and expenses that stem from the operating and non-operating business functions. And so, the amounts in one accounting period should be closed so that they won’t get…

Since nonprofits have strict rules and guidelines on how their money is spent, it’s important to have an organized system in place to ensure that the financial process is handled properly. Purchase orders are a great way to record and have a record of agreements between the nonprofit and all vendors. Ask other nonprofits in…

The new budget for sales commissions is $10,500 ($262,500 sales times 4%), and the new budget for delivery expense is $1,750 (17,500 units times 10%). These are added to the fixed costs of $12,500 to get the flexible budget amount of $24,750. The advantage to a flexible budget is we can create a budget based…

See Table 10.9 for the steps to calculate the time to maturity. In Step 2, we will need to decide on a discount rate to use on these https://www.bookkeeping-reviews.com/taxpayer-definition-meaning/ future bond cash payments. For now, we will jump to the answer and simply use the YTM of 1.24% from the bond data in Table 10.1.…

Companies file Form 10-K annually, between 60 and 90 days following the end of their fiscal year, depending on the organization’s size. Form 10-Ks may seem intimidating at first, but they’re crucial documents when deciding where to invest money. As Finerman explains, “If you start looking at them more frequently, like anything, you’ll get better…

The break-even analysis is important to business owners and managers in determining how many units (or revenues) are needed to cover fixed and variable expenses of the business. Alternatively, the break-even point can also be calculated by dividing the fixed costs by the contribution margin. Calculating breakeven points can be used when talking about a…

The controller of the Gertrude Radio Company wants to develop a predetermined overhead rate, which she can use to apply overhead more quickly in each reporting period, thereby allowing for a faster closing process. A later analysis reveals that the actual amount that should have been assigned to inventory is $48,000, so the $2,000 difference…

Alaska doesn’t levy state sales taxes, either, but the state allows cities and counties to charge their own taxes. Sales taxes are administered at the state level, but they can be levied at the municipal or county level as well. kennedy introduces bill expanding louisiana disaster victims Alaska, for example, has no state sales tax,…