Once you have a list of bookkeeping names, seek opinion from friends, family or other people. A fresh perspective can help you decide which name resonates best. A name like “Xtraordinary Bookkeepers” might sound unique but could confuse clients trying to remember it. Certifications are a difference maker when clients choose a bookkeeping service. The […]
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But for businesses recording accruals manually, a good rule of thumb is to prepare the journal entry for the following month ahead of time, recording it once month-end processing is complete. When the accrual is reversed the following month, the accrued expenses account will be debited, which will reduce the balance in the account. Income […]
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For AFS and HTM debt securities, the Current Expected Credit Losses (CECL) model under ASC 326 requires companies to estimate and recognize an allowance for expected credit losses. If an AFS security’s fair value is below its amortized cost, the credit-related portion of the loss is recognized as an impairment charge on the income statement, […]
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But nonprofit revenue can have unique complexities and restrictions compared to for-profit businesses. Beyond just earned income, charitable nonprofits rely on diverse sources like donations, grants, government contracts, investments, and fundraising/events, among others. Each revenue stream has its own accounting treatments, trailing requirements, and financial impacts. While a template can make this job easier, it’s […]
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From an economic perspective, sunk costs are a given; they are the investments into projects, research, and development that have already been made. Economists argue that these costs should not affect the rational decision-making process. The emotional investment and the fear of wasted effort can cloud judgment, leading to the ‘sunk cost fallacy’ – the […]
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In an increasingly digital age, online review platforms are the new word of mouth. Studies indicate that Yelp reviews can be just as influential as a friend’s referral, which means how you manage your Yelp presence can make or break your company’s credibility. A social media aggregator curates all of your customer-generated content, posts, and […]
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Their workloads can seem unmanageable, eventually leading to feelings of stress and overwhelm if they miss important deadlines or make errors. Business units or divisions within a parent company may engage in inter-entity transactions, meaning they exchange goods, assets, or services between them, including inventory, consulting, or supplies. A multi-entity accounting system helps address this […]
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Bittrex exchange has, however, managed to set a niche for itself. Although it currently strives to serve the interest of all crypto traders, it is evident that its focus is on crypto-to-crypto trading pairs. Besides the lack of margin trading, the Bittrex fees are reasonably competitive. It offers a wide range of trading pairs that […]
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The accounting cycle is defined as a series of nine steps to collect, process, and report financial transactions. Learn the role of each of these steps and discover examples of this process. All executive compensation and benefits are considered an administrative expense. Building leases, insurance, subscriptions, utilities, and office supplies may be classified as a […]
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Healthy boundaries empower families to provide support without overextending themselves. Clear boundaries define acceptable behaviors and roles, helping prevent enabling or codependency. Educational programs, such as those offered by Gateway Foundation, also include information on medication-assisted treatment, relapse prevention, and the importance of https://live-jimmywebstudio.pantheonsite.io/when-does-social-drinking-become-problem-drinking/ continuous support. Family support also encourages accountability—the loved one’s participation in […]
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