Category: Bookkeeping

Besides having clean books and organized data, hiring a bookkeeper can be just the right step for your business in LA needs to grow. The city offers excellent bookkeeping services, from Fast Tax Services to MBA Financial & Accounting Solutions. Aenten bookkeeping services los angeles is the leading online Accounting & Bookkeeping for small businesses…

It prevents bias in situations when the pattern of economic benefits from an asset is hard to estimate. Note how the book value of the machine at the end of year 5 is the same as the salvage value. Over the useful life of an asset, the value of an asset should depreciate to its…

This information is typically available on the product’s packaging, website, or by speaking to a brand representative. Now that you know what straight-line depreciation is and why it’s important, let’s look at how to calculate it. Once straight line depreciation charge is determined, it is not revised subsequently. Calculate depreciation expense for the years ending…

The main challenge of ABC costing is that it allocates fixed costs as if they were variable. Because of this fact, it may give an inaccurate figure of the total cost, and the inaccuracy depends on the period of time required to recoup back the initial fixed cost. If the cost is high, there are…

Together with the team Vincent sets the strategy and manages the content planning, go-to-market, customer experience and corporate development aspects of the company. All organizations want to perform optimally and avoid or reduce mistakes as much as possible. Along with this, the value generated from each activity has to be quantified so that it can…

This capability automatically fills in GL or item account lines when a template is applied, making line-item coding a swift, automated process. Streamline invoice coding with easy-to-create templates that auto-populate line items and GL codes. 3-way matching compares the PO, GRN, and vendor invoice to ensure accuracy and consistency, preventing duplicate or fraudulent payments and…

This is why we need to include the fair value of the NCI in our goodwill calculation. The consolidation adjustment required for this deals with the fact that the group has made a profit of $500 on items which have not been sold on to a third party/non-group entity. Effectively, if you did not make…

Publishers meticulously track book sales to monitor progress toward this milestone. In business, it’s normal for people or firms to use other people’s intellectual property or resources. These deals generally entail a royalty, which is a periodical payment made by one party (the user) to another (the owner) for utilizing their asset. For example, using…

It states that expenses should be recognized in the same accounting period as the revenues they help to generate, regardless of when the cash transactions occur. In other words, the matching concept ensures that expenses are matched with the revenues they help to generate in order to accurately reflect the profitability of a business for…

Depreciation is the accounting term used for assets such as buildings, furniture and fittings, equipment etc. Companies use this to record the diminishing value of their assets as they are used in the business from the time of purchase of such assets. Hence cost is allocated periodically as value lost due to usage (as expense…