Category Archives: Bookkeeping

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, […]

We are a niche group of consultants who are passionate about delivering tangible and enduring results for our clients. Achieve efficiency, effectiveness and continuous improvement enabled using digital solutions. Former BCG, Lilly supports key recruiting and operations initiatives across the firm. Thought leadership from the MERU team, media appearances, podcast visits, news article mentions, and […]

We are a niche group of consultants who are passionate about delivering tangible and enduring results for our clients. Achieve efficiency, effectiveness and continuous improvement enabled using digital solutions. Former BCG, Lilly supports key recruiting and operations initiatives across the firm. Thought leadership from the MERU team, media appearances, podcast visits, news article mentions, and […]

Greg’s January financial statement for the company shows $100,000 in cash, but the bank statement shows only $88,000. Let’s take a look at a hypothetical company’s bank and financial statements to see how to conduct a bank reconciliation. It’s recommended for a company to perform a bank reconciliation at least once a month. If your […]

This report serves as a financial mirror, reflecting the detailed expenses incurred in the production process. It’s not just a ledger of numbers; it’s a narrative that tells the story of raw materials transforming into finished goods, the efficiency of production lines, and the economic forces at play within the factory walls. By dissecting this […]

As the use of AI increases, these kinds of problems are likely to become more widespread. The good news, Littman says, is that the field is taking these dangers seriously and actively seeking input from experts in psychology, public policy and other fields to explore ways of mitigating them. The makeup of the panel that […]

For example, positive cash flow is available more quickly than fixed assets such as goodwill, for which you would have to wait to sell it to recover the money. Shareholders’ equity is calculated by subtracting a company’s liabilities from its assets. This shows how much of the company belongs to its shareholders or owners. The […]

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 […]

This online account also offers expanded FDIC insurance, covering up to $3 million instead of the usual $250,000. Open up types of accounting methods to 20 accounts to organize and allocate income for things like day-to-day expenses and payroll. Automate the transfer of income into each account using dollar amounts or percentages. Once you’ve selected […]