What Is Month End Close? Steps, Process, Checklist & Best Practices Vena

par Corinne | Juil 11, 2023 | Bookkeeping

Perhaps one of the most time-consuming aspects of the entire process is pulling together all the necessary parts to start the work itself. Financial documents exist in different locations and systems, both from internal and external sources. Thus, a centralised system...

Shareholders Equity Definition, Formula, Calculate

par Corinne | Mar 31, 2023 | Bookkeeping

From the viewpoint of shareholders, treasury stock is a discretionary decision made by management to indirectly compensate equity holders. In contrast, early-stage companies with a significant number of promising growth opportunities are far more likely to keep the...

What are Overhead Costs? Square Business Glossary

par Corinne | Mar 16, 2023 | Bookkeeping

Hence, following are the steps for calculating the overhead costs of your business. Furthermore, these costs decrease with an increase in output and increase with a decrease in output. This is because these costs are fixed in nature for a specific accounting period....

Discount on Bonds Payable: All You Need To Know +Examples

par Corinne | Déc 19, 2022 | Bookkeeping

The amount of discount amortized for the last payment is equal to the balance in the discount on bonds payable account. As with the straight‐line method of amortization, at the maturity of the bonds, the discount account’s balance will be zero and the...

Gross sales vs net sales: Key differences explained

par Corinne | Juin 28, 2022 | Bookkeeping

A good place to start is to understand your total sales and revenue, which involves keeping tabs on gross sales and net sales. To help you further, consider using modern sales tracking and analytic tools. They not only help you to calculate gross sales but also track...

Classified Balance Sheet Definition Format Examples

par Corinne | Mar 1, 2022 | Bookkeeping

Information regarding their details can either be provided by wider categories or it can be presented by subcategories to show classification of its basic elements. A classified balance sheet is a financial statement that organizes assets, liabilities, and equity...