Bookkeeping

How do I handle workers’ compensation premiums under accrual accounting? ZipBooks Help Center

For former employees of Lawrence Livermore Laboratory, 73 percent of the compensation decisions have been denials. His job at Lawrence Livermore Laboratory for 14 years was to oversee and transport plutonium, uranium and other radioactive materials. He contracted multiple myeloma, a cancer that has been linked to radiation exposure. Since 2001 when the federal Energy Employees Occupational Illness Compensation Program Act went into effect, 148,181 claims have been filed. If your disability pension is paid under a statute that...

Daha fazla oku...

What Predetermined Overhead Rate Is Formula and Sample

So, if you were to measure the total direct labor cost for the week, the denominator would be the total weekly cost of direct labor for production that week. Finally, you would divide the indirect costs by the allocation measure to achieve how much in overhead costs for every dollar spent on direct labor for the week. The controller of the Gertrude Radio Company wants to develop a predetermined overhead rate, which she can use to apply overhead more...

Daha fazla oku...

Trend Analysis in Accounting: Benefits and Limitations

The income statement, statement of retained earnings, balance sheet, and statement of cash flows, among other financial information, can be analyzed. The information obtained from this analysis can benefit decision-making for internal and external stakeholders and can give a company valuable information on overall performance and specific areas for improvement. The analysis can help them with budgeting, deciding where to cut costs, how to increase revenues, and future capital investments opportunities. In conclusion, trend analysis is a valuable tool...

Daha fazla oku...

Financial Statements Financial Accounting

The utility bill for its selling and general administration will be an expense for the period indicated by the meter reading dates. However, the utility bill for the direct and indirect manufacturing operations is part of its manufacturing overhead. As such, the utility bill will be assigned or allocated to the units produced. When an expense is recorded, it most obviously appears within a line item in the income statement.As the company pays off its AP, it decreases along with...

Daha fazla oku...

How Can I Calculate the Carrying Value of a Bond?

Preferred securities are a type of hybrid investment that share characteristics of both stock and bonds. They are often callable, meaning the issuing company may redeem the security at a certain price after a certain date. Such call features, and the timing of a call, may affect the security's yield. Preferred securities generally have lower credit ratings and a lower claim to assets than the issuer's individual bonds. Like bonds, prices of preferred securities tend to move inversely...

Daha fazla oku...

Double-Entry Bookkeeping Guide for Small Businesses

It is recommended to use a double-entry bookkeeping system because it allows for checks and balances on all transactions and the overall financial statement. This ensures that all financial statements are in good order and it can also help detect and prevent fraud within the business. Business owners who have previously operated on a single-entry system will want to make the switch to a double-entry system as soon as possible. Implementing a double-entry system of accounting will allow you...

Daha fazla oku...

Accounts Payable Process, Definition, Formula & Journal Entries

Asset - an economic resource with anticipated benefits in the future, based on past events or transactions. An asset is anything of value to which the organization has a legal claim, including tangible and intangible objects of economic value. Under the Net Method, if you pay your supplier within the agreed-upon time period, you get a certain percentage of the discount. This is to promote moderate and favorable buying from your suppliers. The following table contains a number of standard accounting...

Daha fazla oku...

Demystifying deferred tax accounting: PwC

This objective is met through the measurement of the basis difference in the book carrying value and tax basis of the enterprise’s underlying assets and liabilities. While there are limited exceptions, these differences in basis generally reverse as part of the enterprise’s normal course of operations according to well-established rules. Deferred revenue, also referred to as unearned revenue, is a liability (current or non-current) that is recorded when the company receives cash from customers but is not yet able...

Daha fazla oku...

Your eBay account

You’ll likely need to pay income tax, dividend tax, and national insurance. Your updated transaction records will help you put together crucial financial documents, such as your income statement, for accurate tax reporting. Though it has a lack of some essential features, it is still worthy enough to be mentioned here in our list because of the fact that it is absolutely free. It offers some of the most important accounting functions for eBay sellers while costing nothing at...

Daha fazla oku...

Accounts Receivables Management Outsourcing Receivables Management

When a business outsources its accounts receivable collections, it hands over the responsibility of following up with customers, sending reminders, and making collection calls to the outsourcing company. This allows the business to focus on its core operations while experts handle the sometimes-challenging task of collecting payments. The outsourcing company typically has specialized knowledge and experience in collections, which can lead to more effective and efficient results. They have strategies and systems in place to handle different types of...

Daha fazla oku...
05071464301