Category: Bookkeeping

If they haven’t helped, accounting educators might as well go back to the drawing board and seek more effective ways of teaching ethics to enhance students’ moral development. Accountants can maintain ethical standards by adhering to established ethical guidelines, engaging in continuous professional development, and fostering a culture of integrity within their organizations. Whistleblowing mechanisms,…

One of the most significant costs to account for is, of course, motor tax. This falls under the same umbrella as sales tax in California. Regarding exact estimations, it’s impossible to pinpoint what you might pay each year in property tax without the specifics of the home you plan to buy. House prices differ substantially…

You can easily track your expenditure and generate financial reports in a minute. HOA accounting software reduces the risk of mistakes and inconsistencies that come with using spreadsheets. If your HOA’s equity is negative, you must take proper action to improve your community’s finances. On the other hand, if your equity is positive, it means…

Common examples include interest payments on loans, taxes (everyone’s favorite), and warranties on products or services you’ve received. Don’t forget expenses like wages, employee commissions, and bonuses—your team worked hard, and their pay needs to be accounted for, even if the cash hasn’t left your account yet. This guide breaks down accruals, deferrals, and non-cash…

If you want additional services (such as tax preparation), an online firm can easily provide supplemental services. If your business is moving into a growth stage, you need to consider graduating to full accrual based accounting, with financial and management reports that help you scale. Typically you will need this level of financial management not…

Business drivers are the key inputs and activities that drive the operational and financial results of a business. Common examples of business drivers are salespeople, number of stores, website traffic, number and price of products sold, units of production, etc. In order to make internal choices about business strategy or build a financial model to…