Whenever you review any financial statement, you should consider it from a business perspective. Financial documents are designed to provide insight into the financial health and status of an organization. The first method used to calculate the operation section is called the direct method, which is based on the transactional information tha
Retained earnings refer to the historical profits earned by a company, minus any https://www.bookstime.com/articles/is-it-hard-to-be-a-bookkeeper dividends it paid in the past. To get a better understanding of what retained earnings can tell you, the following options broadly cover all possible uses that a company can make of its surplus mon
However, without the influx of capital you obtain from loans, you may maximum level or maximum limit of stock face substantial challenges when trying to purchase equipment or grow your team. You can also use loan proceeds to boost your cash flow and thus face fewer issues in paying employees and suppliers on time. Plus, […]
As an employee at a company, taxes are automatically withheld from your paycheck and submitted to the proper agencies. But as a freelance or self-employed photographer, it is your responsibility to withhold and pay your own taxes. Hotel, motel, AirBnB, VRBO, etc. costs while traveling out of town for business, plus any internet access fees,
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Fixed cost is the expense that does not change in tandem with changes in demand or revenue over a certain period of time. Fixed cost is independent of the number of business activities because it is more of a periodic cost. A mortgage loan term is the maximum length of time you have to repay […]
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The number and variety of adjustments needed at the end of the accounting period differ depending on the size and nature of the business. However, there is a need to formulate accounting transactions based on the accrual accounting convention. Before exploring adjusting entries in greater depth, let’s first consider accounting adjustments,
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