Jan 16
What Are Examples of Current Liabilities?
The quick ratio is the same formula as the current ratio, except that it subtracts the value of total inventories beforehand. The quick ratio is a more conservative measure for liquidity since it only includes the current assets that can quickly be converted to cash to pay off current liabilities. Overall, the journal entries for the
Read MoreJan 12
Dividends: Definition in Stocks and How Payments Work
There are three main types of dividend policies that companies may adopt. These include constant, residual, and stable dividend policies, based on different theories. Dividends are also crucial for potential investors and the market’s perception of a company. The ability of a company to pay dividends to its shareholders regularly helps develop a positive perception
Read MoreMay 25
Accounting and Bookkeeping Dallas, TX CPA Firm
As the backbone and advocate for your business, we will work together hand-in-hand to keep your finances organized so you can reach your goals. We help women entrepreneurs and creatives understand their numbers and demystify bookkeeping so it becomes an enjoyable part of their day-to-day lives. Bookkeeping is simplified, easy, accurate, and fast with My
Read MoreApr 14
Notes Payable Definition + Journal Entry Examples
The portion of a note payable due in the current period is recognized as current, while the remaining outstanding balance is a noncurrent note payable. For example, Figure 12.4 shows that $18,000 of a $100,000 note payable is scheduled to be paid within the current period (typically within one year). The remaining $82,000 is considered
Read MoreApr 14
Annual Balance Sheet Date Definition
As with assets, most balance sheets break down liabilities into two subcategories. If a company or organization is privately held by a single owner, then shareholders’ equity will generally be pretty straightforward. If it’s publicly held, this calculation may become more complicated depending on the various types of stock issued. Shareholders’ equity refers generally to
Read MoreSep 7
The Beginner’s Guide to Bookkeeping
KPMG Spark offers remote bookkeeping services packages for cash and accrual-based businesses. Packages for cash and accrual accounting are limited by the value of monthly expenses and the number of accounts/projects you have. In addition to the four fixed plans on offer, there’s also a fifth customizable solution. Tax preparation is not included in any
Read MoreMar 9
Bank results highlight boost from higher interest rates
EBIT is a term commonly used in finance and stands for Earnings Before Interest and Taxes. Banks and non-financial entities have similar financial statements, but a few key differences due to the nature of their businesses. Banks operate on storing customer deposits and lending money out from those deposits. When presenting information in the income statement,
Read MoreFeb 18
A brief introduction to transactional analysis
We will not then be trusted with responsibility and may have difficulty in resisting unreasonable demands from colleagues or customers. Perhaps we were told that “children should be seen and not heard”, so now we sit so quietly at meetings that no one recalls afterwards that we were there. Alternatively, we may have learned during
Read MoreJan 19
AI Is Key To Successful Automation Efforts Heres What That Looks Like
Of course, CMAs, CPAs, CFOs/vCFOs, and other credentialed accounting professionals already aim for roles where they make strategic decisions. For example, in the early days of bookkeeping software, accounting jobs changed drastically. Intuit, launched in 1983, and Microsoft Excel, launched in 1985, did not, in fact, represent the demise of human bookkeepers, as many feared.
Read MoreJan 18
Tutorial 3: What are indirect rates and how do I develop them?
Another task you’ll need to complete when setting up a DCAA-compliant accounting system is determining how your indirect expenses will be allocated to your direct projects. You want to configure your accounting system so that it can calculate an indirect cost recovery rate. Accounting systems that were designed to support government contracting support establishing cost
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