As discussed above, depletion and depreciation are similar concepts but used under different circumstances. For example, Atlantic Richfield Co., at one time, reported net producing property of $2.6 billion. The major accounting problem is to distinguish between dividends that are a return of capital and those that are not. Depletion accounting influences investment decisions, as […]
When cities and towns face dangerously high pension costs, they are forced to raise property taxes to cover shortfalls on debt payments. As a result, residents pay bookkeeping more in taxes towards past government services but don’t see benefits from current government services. They are more likely to see cuts to services as the old […]
For both the day you depart for and the day you return from a business trip, you must prorate the standard meal allowance (figure a reduced amount for each day). Your job in Fresno is indefinite because you realistically expected the work to last longer than 1 year, even though it actually lasted less than […]
This facilitates real-time collaboration and makes it easier than ever to access real-time documents and financial information. Manage your practice, clients and payroll directly from QuickBooks Online Accountant. It supports you with everything from day-to-day accounting, payroll, to VAT preparation and filing. Additionally, accountants can now pre-set multi-entity allocations to avoid the manual work of selecting accounts […]
Our 75+ accounting firms with 1,200+ professionals serve the financial needs of over 13,000 construction companies and their owners. We provide bookkeeping for construction companies detailed, accurate, and timely financial reports, including profit and loss statements, job cost reports, and work-in-progress (WIP) reports. Our goal is to give you clear visibility into your financial health, […]
This represents a direct reduction in the revenue originally recognized. Understanding the difference between gross and net revenue is crucial for accurate financial analysis. This provides a clearer understanding of a company’s financial health. In the realm of financial accounting, revenue stands as a pivotal indicator of a company’s financial health and performance. Contra Revenue […]
A company is restricted by the shareholding arrangements and moving shares or equity between shareholders is likely to give rise to a tax charge under the share related remuneration rules. LLP members, however, can vary profit sharing arrangements from year to year with complete flexibility and can also increase the equity interest of new members […]