Bookkeeping

Premium Furniture, a US based Inc., uses a standard costing system to control its direct materials and conversion costs. During the month of December 2022, its workers used 3,750 feet of timber to finish 1,500 office chairs. The standard length of timber allowed to manufacture an office chair is 2.75 feet and the standard rate […]

Preferred stock often commands a premium, and this, along with any fixed dividends, must be included to provide a complete picture of equity financing. Together, these elements offer a detailed view of the funds raised from shareholders. Understanding total paid-in capital is crucial for investors and financial analysts, as it highlights the funds a company

Common stock is primarily a form of ownership in a corporation, representing a claim on part of the company’s assets and earnings. Instead, as a shareholder, you own a residual claim to the company’s profits and assets, which means you are entitled to what’s left after all other obligations are met. Common stocks are represented

If you’re a bit uncertain about the accounting equation and how owners equity works, return to our earlier lesson called What is Owners Equity? An expense could be defined as an event that results in money (or other assets) flowing out of the business. Take control of your business expenses the easy way – all in

Learn more about FinOptimal’s managed accounting services to see how you can incorporate similar offerings. The more value you offer, the more indispensable you become to your clients. The world of QuickBooks is constantly evolving, with new features and updates rolling out regularly. As a ProAdvisor, staying informed is crucial for providing top-notch service to

The basic accounting equation is used to prepare these statements, which include the balance sheet, income statement, and cash flow statement. It is important to ensure that these statements the equation showing the relationship among assets, liabilities, and owners equity. are accurate, as they can have a significant impact on the decisions made by investors,

Retainers often offer better rates than hourly or one-off payments, saving costs in the long run. Providers gain a better understanding of client needs, leading to better results. For example, a person might pay an attorney a retainer for certain services. The attorney may learn information that retaining fee leads them to think they cannot

It is calculated by dividing a company’s total equity (after deducting liabilities) by the number of outstanding shares. This metric gives investors a sense of the company’s intrinsic value based on its balance sheet rather than its earnings performance. This metric reflects the potential impact on earnings if all such securities were exercised, leading to

Whether your business is located construction bookkeeping in a bustling city or a quiet suburb, we have a team of experts ready to help and support you with any of the local details and tax laws you should know about, wherever your business is located. We are here to help you streamline your accounting needs

Liabilities are obligations to parties other than owners of the business. They are grouped as current liabilities and long-term liabilities in the balance sheet. Current liabilities are the obligations that are expected to be met within a period of one year by using current assets of the business or by the provision of goods or