Therefore, the $9,000 mortgage note is a recourse liability because one or more partners bear the economic risk of loss for the liability. Liquidation, the deficit capital account restoration provision would require J to contribute $300,000 to the LL... Read more
With workflow automation software, the process can be as simple as entering the appropriate data and letting the software perform the calculations for you. By simplifying the process you will reduce the amount of human error and be able to work. Read more
It’s crucial to understand operating expenses as how you deal with them differs. That’s in terms of tax and accountancy, and as compared to other costs. The two most notable different kinds of expenses are capital and non-operating expens... Read more
Using EBIT instead of operating income means that the ratio considers all income earned by the company, not just income from operating activity. Your operating margin can be an indicator of how well your company is being run, and many investors. Read more
Once an individual has been sold goods on credit, they are expected to pay the amount per the agreement. Bad debt expense equation helps in obtaining a true and fair view of financial statements as net profit and debtors are correctly. Read more
The Internal Revenue Service allows businesses to use either the direct cost method or the retail inventory method for tax-reporting purposes. The previous four inventory costing methods value inventory based on the cost to acquire the inventory. The... Read more
Plate IQ is another stand-alone Accounts Payable automation software that helps companies receive, approve, and process transactions more efficiently. Plate IQ is recognized for managing the entire AP life cycle.Keep in mind that most businesses are ... Read more
Maintaining copies of vouchers, invoices or correspondence necessary for files.... Read more
Public companies are required to report these numbers annually as part of their 10-K filings, and they are published online. However, property, plant, and equipment costs are generally reported on financial statements as a net of accumulated deprecia... Read more
She has nearly two decades of experience in the financial industry and as a financial instructor for industry professionals and individuals. Janet Berry-Johnson is a CPA with 10 years of experience in public accounting and writes about income taxes a... Read more
