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
The normal balance for each account type is noted in the following table. For example, if a company borrows cash from its local bank, the company will debit its asset account Cash since the company's cash balance is increasing. The same entry will in... Read more
Estimated tax, Paid Family and Medical Leave, and Health Insurance Responsibility Disclosure are also included. In some cases and especially during promotional periods, many cardholders receive rewards that actually earn them in excess of 4%-5% or ev... Read more
These statements are essential because after starting your nonprofit, you will need some of the information for ongoing financial compliance. Some states require these statements to be attached to Form 990, so be sure to check your local requirements... Read more
Rely on BC Templates 2021 and win approvals, funding, and top-level support. For those who need quality case results quickly—the complete concise guide to building the winning business case. For twenty years, the proven standard in business, governme... Read more
Calculating and paying your taxes in New York can be complicated. Here’s how to figure out which ones you need to pay and how much. Let us know in a single click, and we'll fix it as soon as possible.... 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
NSF also describes the fee charged when a check is presented but cannot be covered by the balance in the account. You may see a “non-sufficient funds” or “insufficient funds” notice on a bank statement or at an ATM terminal wh... Read more
The FASB’s board members on Wednesday proposed allowing private franchisers to delay by one year the effective date of a standard that unifies how companies account for revenue from sales and services. Those effective dates reflect the FASB&rsq... 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
