Therefore, useful life of an asset under Units of Production Method is stated in terms of production output or usage rather than years of service. The asset depreciation for an accounting period is based on the level of activity in that accounting period. Activity units can be defined in...

For example, if market interest rates drop, the issuer will want to take advantage of the lower interest rate. The company can, then, sell a new bond issuance at the new, lower interest rate. Liabilities consist of many items ranging from monthly lease payments, to utility bills, bonds issued...

Using the proper canons is pivotal because using the wrong one could significantly change the charges. In this case, your billing team should review the payer’s decision, which will often be detailed, for potential inaccuracies. If you spot any errors, you can begin the appeals process, though it can...

These adjustments are crucial as they directly impact the company’s net income and overall financial performance. Various types of contra expense accounts exist, each designed to offset specific expenses and improve the accuracy of financial statements through precise expense recognition. The primary purpose of a contra expense account is...

In other words, authorized shares are the total number of shares that companies can legally issue or sell to investors. Outstanding shares are the total number of shares that are held by shareholders. The term shares outstanding is defined as the total number of shares a company has issued...

Well, when it comes to financial projections for startups, it’s more than just a game. Ever tried piecing together a jigsaw puzzle blindfolded? But diving into financial projections for startups without a plan can feel just as daunting. This analysis gives entrepreneurs a better understanding of their best and...

Adding this responsibility to an existing staff member’s to-do list will likely overwhelm your employees, and your books won’t get the undivided attention they need. That’s why your first step in the bookkeeping tampa bookkeeping process should be finding a bookkeeper (and evaluating your outsourcing options). You can either...

Generally, it may take around six months to a year to complete training courses and gain foundational knowledge. However, the timeline can vary based on individual learning pace and chosen education path. FreshBooks is an accounting software that includes monitoring, invoicing tools, reminders when invoices are due, tools for...