Category Archives: Bookkeeping

How you track your money isn’t as important as how much you are tracking. Focus on ensuring that every cent is accounted for by dividing your expenses into categories. Talk to your financially savvy friends https://simple-accounting.org/ and get real-world tips and advice from people who are doing well with their money. If you can, though, keep […]

A flexible budget, especially in the realm of personal finance, on the other hand would allow individuals to adjust their expectations in the budget for both changes in costs and revenue that would occur from unforeseen circumstances, such as the need to sell gold jewellery in Adelaide. You may also want to consider asking a […]

For example, imagine an employee set to receive a $10,000 bonus this year. If the employee leaves at any point, they will receive a pro rata share of the bonus. The agreement awards the bonus based on the number of days worked (inclusive of the last day). If the unsecured claims total $1,000,000, and the […]

A Statement of Stockholders’ Equity is a required financial document issued by a company as part of its balance sheet that reports changes in the value of stockholders’ equity in a company during a year. The statement provides shareholders with a summary view of how the company is doing. It’s also used by outside parties […]

These out-of-pocket expenses are often work-related and may be tax-deductible for employees if they are not reimbursed. Out-of-pocket costs include deductibles, coinsurance, and copayments for covered services, plus all costs for services that https://kelleysbookkeeping.com/ aren’t covered. Employees often spend their own money on business-related expenses, especially if they travel on behalf of a company. These out-of-pocket […]

This means that high-income earners pay a higher tax rate on each additional dollar they earn, which helps to reduce income inequality. A regressive tax is a tax imposed in such a manner that the average tax rate decreases as the amount subject to taxation increases. “Regressive” describes a distribution effect on income or expenditure, […]

To maintain the accounting equation’s net-zero difference, one asset account must increase while another decreases by the same amount. The new balance for the cash account, after the net change from the transaction, will then be reflected in the balance category. For example, a CPA might use a T-account — named because of its physical […]

Financial modeling skills, such as those taught by the FMVA program can help analysts evaluate business prospects, including revenue growth, debt levels, and cash flows. The two bases are historical cost and current value (including fair value and current cost). Financial accountants balance the principles of relevance and faithful representation when selecting the basis. Its […]