If the consignee sold the merchandise, he or she would remit payment to the consignor, minus a commission. There are many benefits to consignment, both for the buyer and the seller. For the buyer, they are able to save money on items that would normally be quite expensive if purchased new. The consignment business model […]
Content Contra Account Definition, Types, and Example Contra asset definition Assets Depreciation Expense Account Vs. Allowance for a Depreciation Account Contra Equity Account Contra accounts act like regular accounts on the balance sheet but have a unique purpose. Contra accounts are shown in the financial statements below the paired accounts, although sometimes the balances of […]
Content What’s The Difference Between Bookkeeping & Accounting? The two components to bookkeeping services pricing Decide on a payment schedule Implement a one-time setup fee Value-based pricing How much a bookkeeper costs also depends on the payment arrangement. You’ll usually pay for bookkeeping services in one of the three ways—hourly, salary, or a flat fee. […]
Content Disadvantages of Double Declining Balance Method Double declining balance vs. the straight line method Double-Declining Balance (DDB) Depreciation Method Definition With Formula How Uber Makes Money Now Alert: highest cash back card we’ve seen now has 0% intro APR until 2024 Use the formula above to determine your depreciation for the first year. This […]
However, in the current world economy, the distinctions between white collar vs. blue collar are blurring. The terms also don’t accurately classify people working freelance jobs or who take part in the gig economy. Different worker descriptions based on a horizontal organizational structure may be more useful for the 21st century. Because white-collar workers tend […]
Content II. Capitalization of Movable Equipment Before we start. Free Accounting Courses Leasing fixed assets Assets vs. Liabilities & Revenue vs. Expenses To capitalize, or not: that is the question! Remember that setting your limit high will mean you have fewer reportable assets. This looks suspicious and could trigger an audit by the IRS, which can […]
Content Big Misconceptions That Hinder Small Business Growth Financing Activities Company What Is Included in a Cash & Cash-Equivalent Calculation Statement? Introduction To Finance and Accounting Specialization (Coursera) — Best For Certification accountingcoach.com Web Traffic Statistics How are bills used on Cash Flow Frog? Sometimes the explanation is straightforward, and sometimes it can be complicated. If your […]
Content What’s included in an income statement? Income Statement and Balance Sheet – What’s the Difference? Cost Transfers/Expenditure, Revenue, and Balance Sheet Adjustments Accessibility Statement Balance Sheet: Explanation, Components, and Examples A balance sheet considers a specific point in time, while a P&L statement is concerned with a set period of time. A balance sheet […]
Content Rippling Time Tracking: Pros, Cons, and 5 Great Alternatives Family and Medical Leave Act (FMLA) Employee Discounts Have you considered whether vacation will be provided under a single paid time off (PTO) policy? Retirement Benefits Export your data in a few clicks A deeper challenge with unlimited vacation is that it leaves employees to guess […]