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Bookkeeping

What are balance sheet accounts?

For example, accounts receivable must be continually assessed for impairment and adjusted to reflect potential uncollectible accounts. Without knowing which receivables a company is likely to actually receive, a company must make estimates and reflect their best guess as part of the balance sheet. Each category consists of several smaller accounts that break down the...
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What is Ledger Account? Definition, Types, and Examples

He has also written several articles on financial management for leading publications such as Zensuggest and The Wall Street Journal. Once you have calculated the operating profit, you need to subtract depreciation and amortization, interest payment, and tax. Sign up to a free course to learn the fundamental concepts of accounting and financial management so...
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Current Ratio Explained With Formula and Examples

In this example, Company A has much more inventory than Company B, which will be harder to turn into cash in the short-term. Perhaps this inventory is overstocked or unwanted, which may eventually reduce its value on the balance sheet. Company B has more cash, which is the most liquid asset and more accounts receivable...
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What is Kanban? The ultimate guide to Kanban

Production Kanban starts with a comprehensive list of all items that need to be completed at a specific time. All Kanban systems use a Kanban board divided into three basic columns – To Do, In Progress and Done. Of course, when the process is more complex, the board can have additional columns and swim lanes....
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Florida Tax Rates and Income Tax Guide

The last day to file a tax return with the IRS is Monday, April 15 for the vast majority of Americans. Here are the deadlines to file your tax return or request an extension. At Bankrate we strive to help you make smarter financial decisions. While we adhere to stricteditorial integrity,this post may contain references...
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Direct Materials Price Variance Definition and Explanation

The following formulas are used to calculate material cost variances for a work order. Knowledge of this variance may prompt a company’s management team to increase product prices, use substitute materials, or find other offsetting sources of cost reduction. The material price variance may also be calculated when the material is withdrawn from stores. And...
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Profitability Index Calculator

Broken down further, the net present value discounts after-tax cash flows of a potential project by the weighted average cost of capital (WACC). The present value of future cash flows requires the implementation of time value of money calculations. Cash flows are discounted the appropriate number of periods to equate future cash flows to current monetary...
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4 Easy Steps for Handling Your Companys Payroll

Moreover, you can take advantage of the payroll reporting features in QuickBooks. These reports enable you to oversee payroll taxes and track employee expenses efficiently. At the time when Barbara wants the transfers to start, she adds an electronic funds transfer (EFT) payment method for her savings account and sets the amount to 100 . Before the...
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What Is an Asset? Types & Examples in Business Accounting

Using a combination of installed sensors and chips implanted into key assets, live data can be instantly sent to a cloud-based management system for review. Modern smart inventory management systems often utilize AI-informed data analytics tools to help teams better understand collected data. Real assets have displayed remarkable resilience during periods of economic turmoil. Examples...
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