One of the ways that management can use accounts receivable aging is to determine the effectiveness of the company’s collections function. If the aging report shows a lot of older receivables, it means that the company’s collection practices are weak. Read more
By documenting expenses during the production process, a business will be able to file for deductions that can reduce its tax burden. Consumers often check price tags to determine if the item they want to buy fits their budget. But Read more
It reports a net sales revenue of $75,000 and a gross profit of $35,000 on its income statement for the year 2022. The opening and closing inventory balances are $9,000 and $7,000 respectively. Calculate average inventory, inventory turnover ratio and Read more
One asset has been exchanged for another, but there has been no entry made to our profit and loss to recognise the expense. A business’ annual stocktake is generally done at the end of the financial year. This is because Read more
And another factor that makes a significant difference is the type of employer for whom you choose to work. Well, according to Salary.com, the national average salary for an enrolled agent is just over $53,126. However, actual EA salaries may Read more
Master Mean-Variance Analysis—precision in risk, excellence in returns. It is calculated as the difference between what the sales revenue should have been for the actual quantity sold and what it was. The quality or price of these new raw materials Read more
QuickBooks typically offers a discount for businesses that need multi-entity accounting, though you’ll need to call QuickBooks directly to request a quote. Finding the right person to suit your business’s needs may also take some time and effort. To gain Read more
In addition to providing personal tax filing services, the company offers online and desktop software products and a variety of other financial services. H&R Block Tax Services LLC franchisees prepare tax returns and may be eligible to offer accounting, payroll, Read more