General and Administrative G&A Expense: Definition, Examples

General and Administrative G&A Expense: Definition, Examples

US GAAP requires that all R&D is expensed, with specific exceptions for capitalized software costs and motion picture development. While IFRS also expenses research costs, IFRS allows the capitalization of development costs as accounting for research and development long as certain criteria are met. Whether a company reports under US GAAP vs IFRS can also […]

New York: Who Pays? 6th Edition

New York: Who Pays? 6th Edition

Content Who Pays NY State Tax? New York State Income Tax Brackets Who has to pay NYC personal income tax? Ranking Property Taxes on the 2023 State Business Tax Climate Index New York Paycheck Calculator Federal Policy Homepage If I live in New York but work in another state, am I taxed twice? Married Filing […]

Top 10 Best Small Business Accountant in Phoenix, AZ August 2023

Top 10 Best Small Business Accountant in Phoenix, AZ August 2023

Content BBB Rating & Accreditation Things Businesses Need in Their Accountants: Accounting and Bookkeeping Solutions Business Hours Best CPA’s Near Phoenix Arizona for Small Business, Bookkeeping & Tax Planning Sapphire Bookkeeping and Accounting in Glendale, Arizona provides affordable services for individuals and small businesses. They offer tax preparation, general bookkeeping, new business formation, payroll services, […]

Suspense accounts and error correction

Suspense accounts and error correction

The purpose of suspense account entries is to temporarily hold uncategorized transactions. Close the account after moving the entry to the correct permanent account. A suspense account is an account used to temporarily store transactions for which there is uncertainty about where they should be recorded. Once the accounting staff investigates and clarifies the purpose […]

How to Prepare a Statement of Retained Earnings

How to Prepare a Statement of Retained Earnings

On one hand, high retained earnings could indicate financial strength since it demonstrates a track record of profitability in previous years. On the other hand, it could be indicative Innovation Startup Accounting Training of a company that should consider paying more dividends to its shareholders. This, of course, depends on whether the company has been […]

Starting or Ending a Business 1 Internal Revenue Service

Starting or Ending a Business 1 Internal Revenue Service

Content Taxes (For Individuals Who Use Schedule C) Tax collection statistics Are You a Statutory Employee? Business Name Change Publication 535 – Additional Material Take Care of Your Employees How To Figure Cost of Goods Sold If you receive a below-market gift or demand loan and use the proceeds in your trade or business, you […]

Work in progress definition

Work in progress definition

Content What is work in process (WIP) inventory? Definition, formula and benefits Manufacturing costs Financial Accounting Accounting for Work in Progress Avoid hand-counting inventory The Struggles of Private Company Accounting That’s why it can be difficult to maintain the correct inventory levels without overstocking, and inadvertently increasing yourcarrying costs. Katana has been designed with a […]

Bookkeeper Job Description Template

Bookkeeper Job Description Template

Content The Benefits of Automated Bookkeeping Download the guide about bookkeeping A few of the core responsibilities of a bookkeeper are: Bookkeeper duties When to hire a financial professional Do Bookkeepers Do Taxes? They may be responsible for managing inventory, tracking sales, and handling cash and credit card transactions. A bookkeeper is responsible for recording […]

Inventory Turnover Ratio Formula + Calculator

Inventory Turnover Ratio Formula + Calculator

Customers tend to do their research and take their time before investing in big-ticket items like cars and electronics. You need to do your research and be sure that these items are worth the potential wait on the warehouse shelf. If the thought of endless calculations is already giving you a headache, you can relax. […]