Bookkeeping

Therefore, the cost of shipping a finished good varies (i.e. is variable) depending on the quantity of units shipped. Though there may be fixed cost components to shipping (i.e. an in-house mail distribution network with a personalized weighing and packaging product line), many of the ancillary costs are variable. These employees will receive the same […]

However, in the U.S., according to the Fair Labor Standards Act (FLSA), specific jobs are excluded from overtime compensation requirements. They are called exempt, and employers are not obligated to pay overtime in these cases. Accordingly, employees who are generally eligible for overtime compensation are referred to as non-exempt employees. According to the FLSA rules

If Ellen’s use of the truck does not change to 50% for business and 50% for personal purposes until 2025, there will be no excess depreciation. The total depreciation allowable using Table A-8 through 2025 will be $18,000, which equals the total of the section 179 deduction and depreciation Ellen will have claimed. John Maple

Mark to market accounting is a practice that involves valuing assets and liabilities based on their current market value rather than their historical cost. Enormous losses reported by financial institutions on sub-prime assets have led to vigorous debate over the appropriateness of fair-value or mark-to-market accounting. The banking industry and US lawmakers have pushed to

Unfortunately, manual processes traditionally employed by law firms often struggle to address the unique challenges of legal A/R management. Clio Payments lets Clio Manage users offer a range of payment options, from online credit card payments to eCheck payments to installment plans. It handles all trust-related transactions in compliance with IOLTA rules and uses the

Once all the other factors are defined, every business owner needs to shop workers’ compensation insurance costs among insurers. While a standard formula is used to calculate the premium, that doesn’t mean the premium is the same for every provider. Depending on the industry in which your business operates, the cost of workers’ compensation insurance

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Although Illinois has a flat income state tax, other taxes, such as federal and property taxes, might be a headache for the layman. That’s why we made the Illinois income tax calculator — so you can take a realistic approach to the taxes you will have to pay on April 2022 and plan accordingly. Arizona’s

These requirements mandate an annual report to stockholders as well as an annual report to the SEC. The annual report to the SEC requires that independent certified public accountants audit a company’s financial statements, thus giving assurance that the company has followed GAAP. On the other hand, International Financial Reporting Standards (IFRS) is a set

Vendors want to make sure they will be paid on time, so they often analyze the company’s payable turnover ratio. They are more likely to do business with an organization with good creditworthiness. This creditworthiness gives the organization an edge to negotiate credit periods and enjoy flexibility in payments, ultimately affecting the ratio. A low