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Bookkeeping

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October 12, 2023Category : Bookkeeping

This death narrative fostered a sense of crisis and cast serious doubts on the sustainability of print newspapers. A 2012 survey reported that as many as one-third of U.S. newspaper publishers envisioned a time when they would stop publishing the print edition. Since the recession, U.S. newspaper newsroom employment dropped by 45%. Tens of thousands..

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01.

Need and Importance of Bank Reconciliation Statement

May 2, 2023Category : Bookkeeping

We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. The offers that appear on this 15 practical ways to reduce business costs site are from companies that compensate us. But this compensation does not influence the information we publish, or the reviews that you see..

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02.

Pay Yourself: Salary or Draw for Business Owners & LLCs

October 17, 2022Category : Bookkeeping

For example, if your company has discount opportunities with vendors, your company can purchase the discounted goods and give them to you. However, the more an owner takes, the fewer funds the business has to operate. Your business is valued at a net worth of $200,000 using accounting formulas taking into account liabilities. Therefore, you..

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03.

GAAP vs IFRS: What’s the Difference?

March 21, 2022Category : Bookkeeping

GAAP is the U.S. financial reporting standard for public companies, whereas non-GAAP is not. Unlike GAAP, non-GAAP figures do not include non-recurring or non-cash expenses. Also, because there are no standards under non-GAAP, companies may use different methods for financial reporting. As a result, it is difficult to compare financial results between companies in an..

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04.

The 9 Bookkeeping Basics Every Bookkeeper Should Know

February 21, 2022Category : Bookkeeping

Accounts payable are usually what the business owes to its suppliers, credit cards, and bank loans. Accruals will consist of taxes owed including sales tax owed and federal, state, social security, and Medicare tax on the employees which are generally paid quarterly. Long-term liabilities have a maturity of greater than one year and include items..

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05.

Appraised Value vs Assessed Value: What’s the Difference?

September 13, 2021Category : Bookkeeping

The appraiser will also take into account the location of the property, as well as the prices of similar properties in the area that have recently sold. The appraisal value of homes is different from the assessed value in that it is an evaluation of a property’s value at a specific point in time. The..

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06.

Accounts Receivable Turnover Ratio Formula Analysis Example

July 29, 2021Category : Bookkeeping

As such, investors should be wary of exactly how they calculate average accounts receivable. One potential remedy may be to take the average balance of each month rather than just the beginning and end of the period. Both of these metrics demonstrate the operational efficiency of a company and the speed of a company’s cash..

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