Firms also have intangible assets such as customer goodwill that may be listed on the balance sheet. If you use cash accounting, you record your transaction when cash changes hands. Accounting software eliminates a good deal of manual data entry, making it entirely possible to do your own bookkeeping. However, it can be difficult to…
Read more
The Net Present Value (NPV) of your business is a calculation that helps you analyze potential projects or investments that might be worth your while. The NPV calculation is a snapshot of a period of time that illustrates how much money you’ve had come in versus how much you’ve paid out. With this type of…
Read more
A payroll tax holiday is a deferral of payroll tax collection until a later date, at which point those taxes would become due. A payroll tax deferral is intended to provide some temporary financial relief to workers by temporarily boosting their take-home pay. Once you have taken out pre-tax deductions, the remaining pay is taxed.…
Read more
Financial accountants are also subject to compliance with government rules and regulations, such as the generally accepted accounting principles (GAAP), whereas managerial accountants are not. You are working as the accountant in the special projects and budgets area of Sturm, Ruger & Company, a law firm that currently specializes in bankruptcy law. He would like…
Read more