Category Archives: Bookkeeping

This will usually be through operating expenses, howeveralways follow instructions from the examiner. Prepare the consolidated income statement to incorporate P and S for the year ended 31 December 20X9. The income statements for P and S for the year ended 31 August20X4 are shown below. A third proposition is for the OCI to adopt […]

By utilizing this system of tracking funds, you can maintain accurate financial records for your organization and all of its directives, empowering you to generate powerful financial statements and make key decisions. Most importantly, it can keep government agencies like the IRS off your back. It’s hard to turn away money, but think things through […]

Nonprofits that rely on grants often deal with requirements and deadlines they have to meet for each grant. Fund accounting for nonprofit organizations ensures funds are used according to those requirements and within the agreed deadlines. When trying to think of what a fund might be for your organization, ask yourself, “Do I need to […]

Nevertheless, these assets are not usually fully expensed in the year of acquisition. Instead, their costs are distributed over their anticipated useful lives to align the expense with the revenue they contribute to, in adherence to the matching principle of accounting. Instead, it is a contra-asset account that reflects the total depreciation expense recognized over […]

Or you may want to know the number of years an amount must be invested in order to grow to a certain amount. In all these cases, we have two of the three items in the formula, and we can solve for the third. To illustrate, the table below shows the future value of $1 […]

Content The best platform for cross-functional work Gantt charts What Is Project Management Software? Explore the features that help your team succeed Planisware Zoho Projects Execute any project process or methodology on one platform Asana offers a lot for productivity and collaboration while a lot of the core project management functionalities are handled through integrations […]

Start your journey by learning which companies we consider to be the best regional and national payroll providers. If you’re considering Complete Payroll Solutions as a partner, find out what our payroll outsourcing costs are for each of our packages. That’s the only fee you’re charged for payroll processing, no matter how frequently you pay […]

The seller could provide information about the product to the buyer, including price, quality, any warranty, a return policy. At that point, the seller would indicate the total amount of money required for the purchase. The buyer would provide payment and then take possession of the item. In accounting, the term sales refers to the […]

One way that board and staff plan for income and expenses in the future is by creating a budget. Approval of the annual budget is one of the fundamental building blocks of sound financial management. A solid annual operating budget is at the core of an effective nonprofit financial management strategy. This budget provides a […]

Used by the top 100 CPA firms, Thomson Reuters GoSystem Tax RS is the market leader for corporate tax departments. The software serves clients filing all return types — including multitiered consolidated corporate returns, life insurance returns (including mixed group filings), and tax equalization returns. Because all work is handled online, you’ll pay less in […]