General Ledger Definition, Importance, Account Types

So, preparing such financial statements becomes challenging if you do not prepare General Ledger. Thus, you as a business owner cannot evaluate your company’s liquidity, profitability, and overall financial position. Sales Ledger or Debtors Ledger is one of the three types of Ledgers that you prepare as a firm or a business entity. It records… Continue reading General Ledger Definition, Importance, Account Types

Understanding Fetal Alcohol Spectrum Disorders National Institute on Alcohol Abuse and Alcoholism NIAAA

It can sometimes be difficult to diagnose a person with FASD because of the variety of symptoms and spectrum of severity. Also, not all people who drink while pregnant feel comfortable talking to their healthcare provider. This means that some people with mild symptoms of FASD might never be diagnosed. Fetal alcohol syndrome is a… Continue reading Understanding Fetal Alcohol Spectrum Disorders National Institute on Alcohol Abuse and Alcoholism NIAAA

Bond Valuation: Calculation, Definition, Formula, and Example

It is the amount of money the bond investor will receive at the maturity date if the bond issuer does not default. It is the last payment a mind your business well mind your finances flawlessly finaloop bond investor will receive if the bond is held to maturity. Typically, it is distributed annually or semi-annually… Continue reading Bond Valuation: Calculation, Definition, Formula, and Example

Conversion Costs Formula Example

It’s important because it will become the cost of the inventory which will impact the selling price. ABC International incurs a total of $50,000 during March in direct labor and related costs, as well income statement vs. pl as $86,000 in factory overhead costs. Therefore, the conversion cost per unit for the month was $6.80… Continue reading Conversion Costs Formula Example

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Bad Debt Reserve: Explanation, Use as Financial Health Indicator

The second benefit is a margin for error with regard to planning cash flows. If the company is prepared for default, then it will not be as affected by it. I write about family finance, investing, entrepreneurship, women & money, and teaching finance to kids. I love diving into the emotional and personal schedule b… Continue reading Bad Debt Reserve: Explanation, Use as Financial Health Indicator

The Best Online Accounting Firms for Small Business

And registrants should expect the staff to continue probing if a response is not specific enough. If you simply need help with your taxes, you may just look for tax preparation services. Tax preparers do not need specific credentials, but, they do need to file for a Preparer Tax Identification Number (PTIN) with the IRS.… Continue reading The Best Online Accounting Firms for Small Business

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How to Calculate Sales Tax on Almost Anything You Buy

First of all, if you’re shopping in New Hampshire, Oregon, Montana, Alaska, or Delaware, the sticker price will be the total price. By basing sales tax on ZIP codes, you risk applying the wrong rates using xero files to manage your documents and remitting tax to the incorrect jurisdiction. Both of these errors increase your… Continue reading How to Calculate Sales Tax on Almost Anything You Buy

7 3 Analyze and Journalize Transactions Using Special Journals Principles of Accounting, Volume 1: Financial Accounting

Money paid out is recorded in the cash disbursements journal, which is generally kept in numerical order by check number and includes all of the checks recorded in the checkbook register. If we paid this month’s phone bill of $135 with check #4011, we would enter it as shown in Figure 7.26 in the cash… Continue reading 7 3 Analyze and Journalize Transactions Using Special Journals Principles of Accounting, Volume 1: Financial Accounting

A Breakdown of Property Management Fees

Percentage-based fees are calculated as a percentage of the assets under management (AUM) or revenue generated by the investment or project. This method aligns the manager’s compensation with the performance of the assets or project. The level of competition and prevailing market conditions can also affect management fees. In a competitive market, managers may lower… Continue reading A Breakdown of Property Management Fees