Bookkeeping

If the corporation were to liquidate, the secured lenders would be paid first, followed by unsecured lenders, preferred stockholders (if any), and lastly the common stockholders. The general guidelines and principles, standards and detailed rules, plus industry practices that exist for financial reporting. It does not provide projections of future…

Educationally, COOs typically hold bachelor’s degrees at a minimum, while often also holding Master’s in Business Administration (MBA) degrees and other certifications. The COO mainly focuses on executing the company’s business plan, according to the established business model, while the CEO is more concerned with long-term goals and the broader…

Megan sold the Company in 2014 to an unnamed investor for an undisclosed sum. She packaged the soap bars in her creative packaging and sent them to test the market. She made twelve hundred packages of luxury Soap to complete the project, which she then distributed to more than a…

Usually, you will find out whether your proposed name has been approved or rejected within a day. However, if your proposed name contains specific words such as media, bank, law, finance, or education, the corresponding external governmental authority may be required to review and approve the name. The application fee…

For example, a corporate bond issued by Apple is rated AAA, which means the ratings agency has very high confidence in the ability of Apple to repay its loan, the bond debt that the bondholders own. The likelihood that Apple will default on its loans is very low, so the…

In the examples set forth below, assume the individual involved is an employee that satisfies the $150,000 Test and Top 20 Test and isn’t an officer, director, or trustee. An “institutional trustee” is a trustee that isn’t an individual or natural person but an organization. List the states with which…

So again, reducing your financial stress can be a key benefit of a budget that brings you back from the depths of debt. Budgeting is not about limiting the fun in your life; it’s about opening up opportunities to have more fun. And helping you worry less about the financial…

The complexity of royalty accounting arises from the need to accurately track and report these metrics, ensuring that all parties receive their fair share. The rise of streaming platforms like Netflix and Spotify has introduced subscription-based revenue models, which require recognizing revenue over the subscription period. This is a departure…

The 4th Edition includes new sections on topics such as cost segregation, the https://www.inkl.com/news/the-significance-of-construction-bookkeeping-for-streamlining-projects design-build process, and pertinent provisions of The Tax Cuts and Jobs Act passed in December 2017. Accounting Basics for Contractors and Construction Businesses Job costing is a method for allocating expenses and revenue The Importance of…

Similar to a chart of accounts, an accounting template can give you a clear picture of your business’s financial information at a glance. Utilizing accounting tools like these will ensure a better workflow, helping you grow your company. FreshBooks offers a wide variety of ledger account accounting tools, like accounting…