With the passage of time, EBITDA became extremely popular among industries having exclusive assets that required write down over longer time periods. At present, EBITDA is most commonly used by several companies, particularly belonging to the tech se... Read more
You'll notice that modified cash basis accounting produces results that are more accurate and useful, without all the effort necessary for preparing accrual-based financial statements. If you are on a cash-basis, and you record your building (and oth... Read more
This model is a popular choice because it's affordable for all types of businesses and it has a transparent fee structure. On every sale, you'll know exactly how much the card network and your credit card processor charged. The typical credit card pr... Read more
Consider having the internal audit staff review prices for a sample of sale transactions, to see if the margin and markup concepts were confused. If so, determine the amount of profit lost as a result of this issue, and report it to management if the... Read more
FIFO model fails to present an accurate depiction of costs when prices of materials increase rapidly. When prices double or triple and accountants still use costs, dating back to months or perhaps years; there will be lot of cost issues that finance ... Read more
In some jurisdictions, joint and several liability remains despite adoption of comparative fault, and in others it has been eliminated by comparative fault. At a Wednesday meeting, a law professor said the park district could be exposing itself to li... Read more
To prevent misappropriating funds from other clients, remember to only charge your clients for fees directly relating to their trust account. Poor accounting practices—like struggling to track billable hours or sending out invoices late —can lead to ... Read more
The amount of money held and duration to be held determines whether the client’s money should be held in a client trust account or IOLTA trust account. Only Alaska, Kansas, Nebraska and Virginia allow attorneys to opt out of IOLTA completely, a... Read more
Invoices are sometimes confused with purchase orders, but these documents serve different purposes. An invoice is a document used to itemize and record a transaction between a vendor and a buyer.In this design, the centered price banner uses a soft g... Read more
These two financial statements can open the door to deeper calculations and analyses. Your balance sheet and income statement will assist your small business every step of the way, as you grow and expand. While the balance sheet clearly identifies wh... Read more
