25
Mar
How to Calculate Accounts Payable Days for a Business?
- 25 Mar, 2022
- Bookkeeping
Here are some terms from his latest purchases from vendors and sales to customers. Accounts Payable – this is the amount of money that a company owes a vendor or supplier for a purchase that was made on credit. With regard …
15
Aug
How to Calculate Sales Tax Definition, Formula, & Example
- 15 Aug, 2022
- Bookkeeping
Taxable meals exclude food and beverages for consumption off premises, but catered and restaurant meals are taxable at the 9% rate. Some states do attempt to charge consumers an identical per-transaction use tax instead, but compliance is relatively low due …
11
Nov
CPG Accounting & Finance Key Questions
- 11 Nov, 2021
- Bookkeeping
Raw material costs also impact inventory management and the decision to produce and sell a new product. Specifically, the COA lists account numbers and account descriptions grouped by account types. A typical COA starts with balance sheet accounts (YTD assets and …
9
Jun
Cash Flow from Financing Activities CFF: Formula and Calculations
- 9 Jun, 2021
- Bookkeeping
The main distinction to make is between advisors who adhere to the fiduciary standard and those that follow the suitability standard. The suitability standard simply means any advice or action would be ‘suitable’ to a client’s needs. Fiduciary duty takes …
21
Apr
Cash Disbursements Financial Accounting
- 21 Apr, 2021
- Bookkeeping
If a traditional escrow account is used, the firm must then keep track of and apportion the interest for each matter and client. However, with accurate record-keeping and frequent reconciliation of bank statements against the ledgers maintained for each escrow …