Bookkeeping

Ensure all existing financial data is Accounting For Architects accurately migrated to the new system. Whether it’s achieving better accuracy, gaining deeper financial insights, or simplifying processes, having well-defined goals will guide the entire transition process. If you’re not already familiar with bookkeeping and finances, it can be challenging to…

This makes it possible to assign indirect labor costs to different products by using the same method for allocating direct labor costs to products. Once you have identified your manufacturing expenses, add them up, or multiply the overhead cost per unit by the number of units you manufacture. So if…

For fair value hedge accounting, entries for hedged items and hedging instruments are recorded. For cash flow hedge and net investment hedge, journal entries for effective and non-effective hedge portions are recorded separately. Apart from this, IFRS 9 introduced a more flexible and broader range of eligible hedging instruments and…

Her mortgage expertise was honed post-2008 crisis as she implemented the significant changes resulting from Dodd-Frank required regulations. Balancing a checking account—aka balancing a checkbook—probably isn’t on your list of fun activities. But keeping up with your spending and income is a must, and that’s exactly what balancing a checkbook…

In conclusion, the decision to pursue a CMA certification is a significant investment, but for many finance and accounting professionals, it is undoubtedly worth it. Next, let’s look at how a CMA certification can help your career growth. First, it is considered the “gold standard” of management accounting in the…

In conclusion, the decision to pursue a CMA certification is a significant investment, but for many finance and accounting professionals, it is undoubtedly worth it. Next, let’s look at how a CMA certification can help your career growth. First, it is considered the “gold standard” of management accounting in the…

That’s why depreciation expense is lower in the later years because of the fixed asset’s decreased efficiency and high maintenance cost. The beginning book value is the cost of the fixed asset less any depreciation claimed in prior periods. Under the DDB method, we don’t consider the salvage value in…

For auditors, the focus is on verifying the accuracy of contra asset accounts. They scrutinize the assumptions and calculations behind depreciation and allowance for doubtful accounts to ensure they’re reasonable and compliant with accounting principles. From a financial analyst’s point of view, contra asset accounts provide insights into a company’s…

Are you a home builder or construction company looking for reliable bookkeeping services? Thustt provides the most affordable bookkeeping services for home builders. We have vast experience in providing comprehensive bookkeeping and accounting solutions tailored specifically for the construction industry. Our professional accounting staff understands the specific financial requirements of…

The ratio is calculated by dividing the total liabilities by the total equity. This form is more of a traditional report that is issued by companies. Assets are always present first followed by liabilities and equity. You can work through these steps to build your confidence and understanding for pulling…