Category: Bookkeeping

It will be done by debiting the revenue accounts and crediting the income summary account. After passing this entry, all revenue accounts will become zero. …

At FreshBooks, we know that crunching numbers isn’t your forte – and that you want to know the financial status of your business at a …

Periodic and perpetual inventory systems are different accounting methods for tracking inventory, although they can work in concert. Overall, the perpetual inventory system is superior …

The variance is calculated the same way in case of both marginal and absorption costing systems. Specifically, fixed overhead variance is defined as the difference …

Compare enrolled agent salaries for individual cities or states with the national average. The highest-paying cities for enrolled agents are Green Bay, WI, San Francisco, …

The Completed Contract Method delays the recognition of revenue and expenses until a construction project is either fully or substantially completed. This method is often …

In essence, the shorter the payback an investment has, the more attractive it becomes. Determining the payback period is useful for anyone and can be …

A payback period of around 10 years is pretty average, and could end up being a solid investment, Haenggi said. It’s a key number — …

This is an important distinction to note when purchasing bonds. The company decides it will start paying its shareholders dividends to distribute a portion of …

Offshore accounting firms can take care of your financial statement preparations either periodically or yearly, based on your business needs. Offshoring accounting functions provides tangible …