Management's assumptions do not provide a reasonable basis for presenting the significant effects directly attributable to the underlying transaction . Management's assumptions provide a reasonable basis for presenting the significant effects directl... Read more
SG&A (alternately SGA, SAG, G&A or SGNA) is an initialism used in accounting to refer to Selling, General and Administrative Expenses, which is a major non-production cost presented in an income statement . Full costing is a managerial accounting met... Read more
Now let's assume that another company pays its employees semimonthly on the 15th day and the last day of every month. If it hires a new employee at an annual salary of $52,000 the employee will be earning $2,166.67 ($52,000 divided by 24 paydays) dur... Read more
This is generally because they’re easier to prepare and, honestly, easier clients to get. For some preparers, staying 1040 focused is a career choice, doing a little bit of business work as it arises from current clients. After the initial peri... Read more
If the borrower is able to provide documentation to disprove any adverse information , the lender may deliver the loan as a DU loan. It looks like we're having some trouble accessing your Credit Karma account. We’re working hard at getting ever... Read more
Book inventory accounting is based on the last physical inventory conducted within a business unit. The count is used as a basis to add purchases and subtract cost of sales in order to calculate the current ‘ending’ inventory. Use the &ld... Read more
An LLC offers a more formal business structure than a sole proprietorship or partnership. It also offers protection to the owner from personal liability for any of the debts that a business incurs. In other words, the personal assets of the owner can... Read more
The remaining funds available for new applications are $8 billion set aside for community financial institutions and a $6 billion set aside for PPP applications still in review status or needing more information due to error codes. The SBA reported o... Read more
If the deposit held is $1,000.00 and the applicable interest rate is 1.7%, then the interest payment due is $17.00. A customer deposit is usually classified as a current liability, since the company typically provides services or goods within one yea... Read more
You may end up spending the deposit by accident which would make it hard for you to return it. Harold Averkamp has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the mater... Read more
