Best LLC Formation Services 2024: Forming an LLC
ZenBusiness has LLC formation packages starting at $0 plus state filing fees. During my sign-up process, various add-ons were suggested to me that were free for the first month or year. Not having to pay much of anything upfront is great for small business owners who want to get the filing process started immediately while […]
Bookkeeping Terms: a Small Business Reference
Not Sufficient Funds (NSF) refers to a situation when your bank does not honour your cheque. This is because the current account on which the cheque is drawn does not have sufficient funds to honour the cheque. Paper statement fees may be waived for people over a certain age, such as 65, or minors under […]
Accounting automation: How to start automating your workflows Karbon resources
Machines do not often commit errors and can process huge amounts of data quickly. Quicker processing, real-time access and insight, and informed decision-making are the powerful end results. Accounting automation takes the manual, generic elements of an accountant’s typical workday and processes it automatically and https://www.bookstime.com/ quickly. In your day-to-day work as an accountant, that […]
8 1 Explain How and Why a Standard Cost Is Developed Principles of Accounting, Volume 2: Managerial Accounting
However, these standards must be achievable and realistic or else they can have a negative effect on the motivation of employees. In addition, management shall need to distinguish the controllable and non-controllable factors for the evaluation of performance. This includes the definition, objectives, types of performance standard as well as the advantages and disadvantages of […]
Gross Profit Margin: Formula and What It Tells You
Analysts use a company’s gross profit margin to compare its business model with its competitors. However, high prices may reduce market share if fewer customers buy the product. This can be a delicate balancing act, requiring careful management to avoid losing customers while maintaining profitability. As an investor, it’s smart to look at key financial […]
The Benefits of Virtual Bookkeeping for Small Businesses
Next, let’s take a look at a few of the best tools for virtual accounting and bookkeeping services, which have worked well for our all-virtual firm. Expert Assisted is a monthly subscription service that requires a QBO subscription and provides expert help to answer your questions related to the books that you maintain full ownership […]
Net Present Value NPV Formula + Calculator
It allows you to establish reasonably quickly whether the project should be considered as an option or discarded because of its low profitability. If we calculate the sum of all cash inflows and outflows, we get $17.3m once again for our NPV. One of the primary advantages of NPV is its consideration of the time […]
What is Inventory Accounting?
Retailers often deal with large volumes of inventory and must choose an accounting method that aligns with their inventory turnover and sales patterns. Factors to consider include seasonality, perishability, and pricing strategies. FIFO may be suitable for retailers with perishable goods, while LIFO may be advantageous for retailers facing rising prices. The specific identification method […]
Current Portion of Long Term Debt
Notice that CPLTD appears in both the measure for the repayment of short-term debt—the current ratio—and the measure for the repayment of long-term debt—the DSCR. That is because the traditional current ratio encompasses both cycles, including both short-term liabilities and the current portion of long-term liabilities. The current portion of long term debt (also referred […]
Current Portion of Long Term Debt
Notice that CPLTD appears in both the measure for the repayment of short-term debt—the current ratio—and the measure for the repayment of long-term debt—the DSCR. That is because the traditional current ratio encompasses both cycles, including both short-term liabilities and the current portion of long-term liabilities. The current portion of long term debt (also referred […]