Bookkeeping

Whether you mismanage the accounts, put funds in the wrong account, accidentally use funds, or fail to report correctly, trust accounting errors are a big deal in accounting for law firms. Trust accounting mistakes can lead to penalties, suspension, or even losing the right to practice law. By using sound bookkeeping practices to keep accurate […]

This is helpful in analyzing a single company over a period of time and can be used when comparing similar companies. This could lead to financial difficulties if the company’s earnings start to decline especially because it has less equity to cushion the blow. A good D/E ratio of one industry may be a bad

Instead, there is a clear pattern of seasonality in current ratio equations. However, the end result of the calculation could mean different things based on the result. Let us understand how to interpret the data from a current ration calculator through the discussion below. A company that seems to have an acceptable current ratio could

For a company keeping accurate accounts, every business transaction will be represented in at least two of its accounts. The shareholders’ equity number is a company’s total assets minus its total liabilities. The fundamental accounting equation, also called the balance sheet equation, is the foundation for the double-entry bookkeeping system and the cornerstone of the entire

3-year property includes automobiles, light-duty trucks (actual unloaded weight less than 13,000 pounds), and tractor units for use over-the-road. Race horses over 2 years old when placed in service are 3-year property. Any other horses over 12 years old when you placed them in service are also included in the 3-year property class. If you

By outsourcing the tasks above, your organization can focus on more strategic activities and let the outsourcing provider handle the time-consuming and tedious aspects of AP functions. If the outsourcing provider goes bankrupt or has a security breach, your company will be affected accounts payable outsourcing too. Your accounts payable process may be put at