Category: Bookkeeping
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Grant accounting: What you need to know
Contents: Establishing a brand for your agency is easier than it sounds Who are your mentors or role models in the field of grant accounting? Why do nonprofits need to classify revenue? What are the “funds” in fund accounting? Accounting considerations related to COVID-19 — Government assistance This will help you determine whether the program…
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What is deferred revenue and why is it reported as a liability?
Content A few practical things to know about deferred revenue Deferred revenue and accrued expenses When Is Revenue Overstated in Accrued Revenue? Is Deferred Revenue an Operating Liability? Do Unearned Revenues Go Towards Revenues in Income Statement? Deferred Revenue vs. Accounts Receivable This usually happens for service companies that wait to perform the job until…
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Prepaid Expenses CPA Financial Accounting and Reporting FAR
Content What Is the Process for Reporting Prepaid Expenses? Example of Prepaid Insurance Prepaid Expenses Definition in Accounting How does prepaid insurance work? Prepaid expenses are recorded first on the balance sheet—in the prepaid asset account—because it represents a future benefit due to the business. Prepaid expenses are considered a current asset because they are…
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Financial Forecasting Using Percent Of Sales Method & How To Calculate Projected Retained Earnings
Content What Is The Percentage Of Sales Method? Customer Service 4 Estimating The Amount Of Uncollectible Accounts Accounting Topics Calculating The Increased Or Decreased Percentage Of Sales Of Each Item You Must Ccreate An Account To Continue Watching Tactics For Better Sales Forecasting For instance, total sales for the year were $100,000 and total cost of…
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Margin Vs Markup Chart & Infographic
Content Head To Head Comparison Between Margin Vs Markup Infographics Margin Example Gross Margin Services Calculating Margin Are You Confusing Markups And Margins? An Example Of Using The Markup Formula What Does Markup Of Cost Mean? If the Zealot becomes more expensive to produce over time, the price will have to go up, and gaining…
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Cashiers check fraud and scams
Content Customer Service How to Get the Usher Debit or Credit Card? Report Lost What is the cost of certified and cashiers checks? Understand how to report large cash transactions Steps to take for ordering cashier check What if I stop payment on a check? How to Get a Cashiers Check In addition, if you…
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What is Allowance for Doubtful Accounts?
Content How Do You Calculate an Allowance for Doubtful Accounts? Bad Faith Does Not Apply to the Surety Line of Business Example of Bad Debts Expense and Allowance for Doubtful Accounts What is the difference between uncollectible accounts expense and bad debt? Example of a Bad Debt and Doubtful Debt Journal Entries in Case of…
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Sales Tax 2021 Lookup State and Local Sales Tax Rates
Content Business Taxes Total sales tax rate: Example Question #7 : How To Find The Amount Of Sales Tax Sales & use tax rates About Virginia Tax How to Calculate Store Items With Tax We’ve added new features that provide more detailed search results and organize your saved information for effortless filing. WikiHow is a…
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Working from home and staying focused? : Entrepreneur
Content Entrepreneur Ideas: Best Jobs To Work Remotely in 2022 Access our amazing freebies for building your business and our bonuses, giveaways and more… #39: Become a Personal Trainer Day care manager Play video games Purchasing payroll software, you can be one step ahead of the employees and streamline the entire payroll process to get…
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The Ultimate Small Business Guide to Debits & Credits
Content Accounts Impacted by Debits and Credits Recording a bill in accounts payable Credit vs Debit Examples How debits and credits affect equity accounts Liabilities and Equity Accounts: Additionally, crediting an account such as accounts payable will ultimately increase the balance of a company. This leads to much confusion when referring to credits and debits.…