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While these drivers are commonly used, they are just general guidelines. There are situations where intuition must be exercised to determine the proper driver or assumption to use. Instead, an analyst may have to rely on examining the past trend of COGS to determine assumptions for forecasting COGS into the future. Please download CFI’s free […]
This type of journal entry is made to close temporary accounts (for instance, revenue and expense accounts) and transfer their balances to permanent accounts on the balance sheet (such as retained earnings). Closing entries are a necessary part of the accounting cycle as they allow businesses to generate financial statements and file tax returns every month and year accurately. […]
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When Jane gets time and a half, her hourly rate increases to $18 per hour (12 x 1.5) for the extra hours she works. Don’t forget that this is the minimum figure, as laid down by law.An employer may choose a higher rate of overtime pay. Whatever it is, it has to fulfill national or […]
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Проект указания Банка России был опубликован для общественного обсуждения, подчеркивает регулятор. Документ подробно описывает и конкретные ситуации, которые могут привести к возникновению конфликтов интересов. В качестве примера приводится приобретение НФП ценных бумаг аффилированной компании и сделку со связанным лицом. Приложениек приказу Министра обороныРоссийской Федерацииот 21 апреля 2009 года N 200 Подобное распределение военнослужащих на категории […]
EcomBalance is a monthly bookkeeping service for eCommerce companies. EcomBalance handles your bookkeeping and sends you a Profit and Loss Statement, Balance Sheet, and Cash Flow Statement by the 15th of each month. EcomBalance also has a sister company, AccountsBalance, that caters to agencies, software companies, coaches, and other online companies. Quickbooks Online is more […]
The credit memo issued due to returned or damaged goods might require adjustments in the seller’s inventory levels to account for those items. This adjustment impacts the valuation and reporting of inventory on the seller’s balance sheet. To record a credit memo journal entry, debit your sales returns, and allowances account and credit your accounts […]
However, there’s no option to attach documents to transactions to share them with your accountant, so you’ll have to use your email or phone to send documents. This may not be a big deal for businesses that manage minimal transactions daily. Moreover, Wave uses bank-grade security measures to ensure that online data is secure. Small […]