Bookkeeping - Page 8 of 146 - Online Accounting

Period costs: Product vs Period Costs Accounting for Managers

Jul 12, 2023 Bookkeeping by Adam Hill

However, other labor, such as secretarial or janitorial staff, would instead be period costs. Overhead, or the costs to keep the lights on, so to speak, such as utility bills, insurance, and rent, are not directly related to production. However, these costs are still paid every period, and so are booked as period costs. Both
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Payroll fraud: What Is the Penalty for Payroll Fraud?

Jul 12, 2023 Bookkeeping by Adam Hill

Payroll fraud can result not only in criminal charges but also in the loss of a job or career. As a result, it is vital to defend against any claims or charges of this form of fraud. If you have been suspected of payroll fraud, consult with a fraud lawyer. In severe fraud cases, employees
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Owners draw vs salary: Pay Yourself Right: Owners Draw vs Salary

Jul 12, 2023 Bookkeeping by Adam Hill

If a company sells all of its assets for cash and then uses the cash to pay all liabilities, any cash remaining is the firm’s equity. Patty could withdraw profits generated by her business or take out funds that she previously contributed to her company. She may also take out a combination of profits and
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Online store accounting: 10 Best Accounting Software For Ecommerce Startups and Small Businesses

Jul 11, 2023 Bookkeeping by Adam Hill

It presents a business’s assets, liabilities, and equity, allowing stakeholders to understand its financial health and strength. The balance sheet helps to measure a business’s liquidity, solvency, and overall financial stability. Financial statements are written records that convey the business activities and the financial performance of a company. Financial statements are often audited by government
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Net cash flow formula: Net Cash Flow Formula Calculator Examples with Excel Template

Jul 11, 2023 Bookkeeping by Adam Hill

It is important to understand the concept of net cash flow as it is a good indicator of the liquidity position of companies. Typically, long-term positive cash flows indicate a healthy position and such companies can comfortably meet their short-term obligations without resorting to the liquidation of their assets. On the other hand, long-term low
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