Inventory Costing Methods

Along with the size of your order, since replacement cost may go down with an MOQ (what does MOQ mean?) and bulk shipping discounts. Mary Girsch-Bock is the expert on accounting software and payroll software for The Ascent. LIFO is often used for tax purposes, based...

Normal account balance definition

It’s important to note that normalizing entries should be supported by proper documentation and justification. They should comply with generally accepted accounting principles (GAAP) or any applicable accounting regulations, ensuring transparency and reliability in...

Virtual Bookkeeper

Bookkeeping services they provide – Everyday bookkeeping, transaction categorization, account reconciliation, invoice management, tax preparation, monthly expense tracking, and payroll management. Online bookkeeping services can save business owners both time...

IAS 36 Impairment of Assets

To ensure that assets are carried at no more than their recoverable amount, and to define how recoverable amount is determined. The depreciation charge is smaller than if the original non-current asset value had been used. The impairment cost is calculated using...

What is Payroll Accounting?

However, Intuit reports that around 25% of employees across the U.S frequently encounter paycheck errors. Such situations make them unhappy and dissatisfied, affecting their morale and productivity. Smaller businesses may find it more convenient for human resources...

Fundamentals of Accounting for Lawyers

Alternatively, if a law firm has a goal of growing their business, they may choose to increase their marketing budget or invest in new technology. Either way, having a budget in place is key to ensuring that a law firm stays on track financially. A well-organized...