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
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
Some people also choice to include the current portion of long-term debt in the liabilities section. This makes sense because although it stems from a long-term obligation, the current portion will have to be repaid in the current year. Thus, it&rsqu... Read more
We already know that the NRV of the rod and reels is $116 each. We also know that the market ceiling is the same as the NRV and the market floor is $74. Since the current market price is lower than the market floor, we would have to use the market fl... Read more
If shipping costs add, say, another $2,000 to the purchase, you'll need to set a higher price in your store to recover it. The advantage of going with the net method is that if you regularly get the early payment discount, the net approach is a more ... Read more
This money is typically collected after a few weeks, and is recorded as an asset on your company’s balance sheet. This discussion provides an accounts receivable definition and explains where the balance is posted in the financial statements. Y... Read more
Financial statements are the key to tracking your business performance and accurately filing your taxes. They let you see, at a glance, how your business is performing. A revenue accrual relates to work that has been performed or products that have b... Read more
A checklist will help you keep track of essential information and minimize time-consuming errors and redundancies. There is really no doubt that automation has been a helpful development when it comes to accounts payable — and especiallythe accounts ... Read more
