All Posts in Category Bookkeeping

What does annual net income on a card application mean?

Profitability and Return on Equity What is net pay and gross pay? Net income is your take-home pay after taxes and other payroll deductions. Your net income, the amount on your paycheck, is what’s used to make your budget. 4) Monthly? This will provide you with your NET ANNUAL INCOME. (There are a few gains…

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The Evolution of Technology for the Accounting Profession

The organizations’ IT systems must be ahead of the competition, they must be financially responsible to the organization, they must be secure with a backup plan for failure management accounting services and they must be in compliance with effective controls. Towards the end of the twentieth century the accounting profession began to take on a…

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How Quickbooks On Cloud Works

Online Access 24/7 Resiliency – public cloud storage replicates data; private clouds in a single location could be destroyed by a natural disaster. However, organizations with limited IT resources may prefer to rely on the cloud storage service provider’s security expertise. Private clouds tend to be used by organizations that want the flexibility and scalability…

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Keys to Budgeting Part 1: Three Major Types of Expenses — CCCSMD

Got a question for our award-winning accountants? Again, anything that you pay for before using is considered a prepaid expense. A non-accountable plan is a way to provide employees with an allowance for business expenses or travel that does not need to be justified to an employer. As the prepaid amount expires, the balance in…

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Statement of Retained Earnings Definitions Use, Example Explained

Are Retained Earnings the Same as Profit? Another factor that affects owner’s equity is invested capital for companies with multiple stockholders or an owner’s contributions for sole proprietorships and other small businesses. Suppose a sole proprietor contributes cash to the business for operating costs. Similarly, in a public company, paid-in capital, the money investors spend…

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