November 8, 2023

3 Differences Between Bookkeeping vs Accounting

However, bookkeepers will face pressure from automation and technology that will reduce the demand for such workers. Bookkeepers may start working for a small business to […]
July 26, 2023

Net Income vs Profit: What’s the Difference?

In most cases, companies report gross profit and net income as part of their externally published financial statements. Consider the image below, which shows Best Buy’s […]
April 10, 2023

The 2023 straight-line depreciation formula + examples

In the accelerated depreciation model, assets depreciate at a faster rate during the beginning of their lifetime and slow down near the end of the asset’s […]
March 23, 2023

Is prepaid insurance an asset?

Non-current assets are long-term assets such as land which generally require over one year before they can be converted to cash. However, prepaid insurance will be […]
January 9, 2023

AC Motor Definition, Working, AC Motor Parts, Applications

For example, if the amount was paid to convert an office building into a restaurant, the entire amount, including HVAC costs, must be capitalized. It works with […]
August 10, 2022

6 Best Cloud Accounting Software of 2023

However, one of its main drawbacks is the lack of real-time inventory tracking, which can lead to challenges in managing stock levels effectively, especially in businesses […]
January 28, 2022

What does encumbrance mean?

In government accounting, for instance, encumbrances are leveled against the relevant appropriation account and are often used when there are multi-year contracts in place. Paying the […]
July 6, 2021

12 Best Kansas City Bookkeeping Services

From local sales taxes, such as the 1% earnings tax, to intricate regulations for different industries in and around Kansas City, we have you covered. Through […]