Content Research and Sponsored Programs Policies and Resources Affecting the Determination of Indirect Costs Tip: How to Distinguish Direct Costs from Indirect Costs? Total Direct Cost Base and Total Costs: Typically Non-Federal Overhead Costs Indirect cost examples Accounting: What Are Direct & Indirect Costs in Financial Statements? Processing IDC Rate Changes Unlike indirect costs, you […]

Content Refunds How to Change/Update Your Address With the IRS Your Request Originates from an Undeclared Automated Tool Free Live Chat & Email Support For Your Online Tax Return If you don’t let the IRS know that you moved, it sends all correspondence to your last known address, the one listed on your most recent […]

Using the furniture example, we can see the journal entry the business would use to record each year of depreciation. “Cost of the asset” refers to the amount you paid to purchase the asset. “Salvage value” is the cash you receive when you sell the asset at the end of its useful life. In the […]

It can be sold at a later date to raise cash or reserved to repel a hostile takeover. Some liabilities are considered off the balance sheet, meaning they do not appear on the balance sheet. Balance sheets should also be compared with those of other businesses in the same industry since different industries have unique […]

When a specific bad debt is identified, the allowance for doubtful accounts is debited (which reduces the reserve) and the accounts receivable account is credited (which reduces the receivable asset). Financial forecasting is predicting a company’s financial future by examining historical performance data, such as revenue, cash flow, expenses, or sales. This involves guesswork and […]

Content Add Up The Company’s Current Assets Working Capital Formula Refinance debt Why should a business calculate change in net working capital? How do you calculate net working capital? Negative Net Working Capital Knowing the difference between working capital and non-cash working capital is key to understanding the health of your cash flow and the […]

Getting a small business bookkeeping service like ours will give you a clearer and broader insight of your expenditures, as well as your profits. These financial reports can help you define a better budget and allocate your funds to the right things. We are trusted by numerous small business owners and the number continues to […]

You can also have far more flexibility with your employees if you allow them to work remotely. This is vital when you’re looking to make big financial and strategic decisions and want access to the most up to date and relevant data. Cloud accounting is the practice of using an accounting system that’s accessed through […]

This is not an issue for users of traditional accounting software, as most traditional accounting software options do not use the internet or use a local area network for their connections. Also, if you are tired of a particular service, you’ll be able to easily switch from one platform to another at no extra cost […]

Content Do I have the time? Keep your personal and business finances separate Data entry key benefits of bookkeeping All-in-one money management Bookkeeping vs. Accounting With single-entry bookkeeping, you record each transaction as a single entry – this method is similar to balancing a checkbook. If you handle a low volume of business transactions, single-entry […]