Accounting

Should I work for a small CPA firm? Work Experience ? Smaller CPA firms may help you become a well-rounded accountant as you are typically involved in an engagement from start to finish. When you start your first accounting job, there will initially be a lot of training and learning related to specific tasks. Read … Read more

What is a vendor credit? A Vendor Credit is the amount that your vendor owes you, given to you in the form of credit. Scenario 1: If you’ve made an advance payment to your vendor, and the final bill amount turns out to be lesser than the amount you had paid, the vendor can issue … Read more

Can you run an accounting business without a CPA? Do You Need to Be a CPA to Start an Accounting Firm? Earning a certified public accountant (CPA) license isn’t required to start an accounting firm, but licensing affects the types of accounting services a business can offer. Read more on online.maryville.edu If you’re wondering if … Read more

Is accounting job easy? While accounting does require a complex set of skills and abilities, as well as excellent attention to detail, it really isn’t any more difficult than many of the other popular fields of study that lead to excellent lifelong career opportunities. Read more on csuglobal.edu A great level of skill and attention … Read more

How big is a small accounting firm? Accounting Today contacted me recently for some insights on the state of small CPA firms ? which is basically the vast majority of the 45,000 CPA firms in the U.S.A. I define a small firm as any practice with revenues under $3M, including sole practitioners. Read more on … Read more

What is a net-30 account? In the U.S., the term “”net 30″” is one of the most common payment terms. It refers to a payment period, meaning the customer has a 30-day length of time to pay the total amount of their invoice. This means the invoice is due at the end of the month … Read more

What is a Schedule L balance sheet? Basically, a Schedule L – Balance Sheet contains the Assets which equals the Liabilities and Equity (Capital Stock, Paid in Capital and Retained Earnings) that existed in the corporation on the first and last day of the tax year. Read more on support.taxslayerpro.com A financial document called a … Read more

The name “”””balance sheet”””” is based on the fact that assets will equal liabilities and shareholders’ equity every time. Read more on www.investopedia.com The assets, liabilities, and equity of the business are displayed on the balance sheet, which is a financial statement. Because it has to balance, it is known as a balance sheet. Alternatively … Read more

What is cost of goods sold for a bar? A cost of goods sold (COGS) report measures your actual food and beverage cost percentages in your bar, rather than an estimate. It helps you figure out how much of your food (in dollars) turns into actual sales (in dollars). Read more on www.dummies.com Although owning … Read more

What do you do when a balance sheet doesn’t balance? Top 10 ways to fix an unbalanced balance sheet Make sure your Balance Sheet check is correct and clearly visible. Check that the correct signs are applied. Ensuring we have linked to the right time period. Check the consistency in formulae. Check all sums. The … Read more