The issuance of common stock can be a beneficial and profitable endeavor for a company that is looking to raise capital. It is important to understand the advantages and disadvantages of common stock, as well as the SEC requirements that must be met. The price of a company’s shares may be impacted by a variety...Read More
Though, the par value of the common stock is registered as $1 per share on the stock certificate. In this case, we will record the land in the balance sheet as $50,000 ($10,000 x 5,000 shares) even though the land was put on sale for a different price (e.i. $60,000). This is due to the...Read More
In the final analysis, most external accountants would agree that you know your business better than they do, but they know business better than you. In-house accountants are most common in larger businesses that have significant accounting workloads. Companies with large, complex accounting can support teams of 5+ accountants under a finance manager at significant expense savings vs. outsourced...Read More
As a result, come tax season, you can rest easy knowing your gym’s financials have been accurately managed all year long, ensuring a smooth process. In this way, we provide an unmatched, comprehensive bookkeeping service. Let Bench handle your books, so you can focus on keeping your clientele fit and active. In the realm of...Read More
Bench is a popular small business choice because it’s an affordable bookkeeping service with an intuitive, easy-to-use platform. Bench gives you at-a-glance visual reports, which provide you with actionable insight that’ll help grow your small business. Another bonus is that you get to communicate with your bookkeeping service team via chat easily. Signs you’re ready...Read More
Additionally, a bookkeeper may work with an accountant, who is responsible for more advanced tasks such as assessing the health of a business or generating financial statements. Our tax services are designed to uncover opportunities for savings and investments, ensuring every dollar supports your journey towards building generational wealth. With Live Expert Full-Service Bookkeeping we...Read More
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When you purchase an asset, there are two ways to pay for it—with your own money and with other people’s money. This concept is a simple description of the accounting equation. The owner’s equity is the value of assets that belong to the owner(s). Revenues & Expenses in the Accounting Equation Accrued expenses occur when...Read More
If you’re already using expense tracking software, you can document receipts and invoices in the same platform. Proper documentation of financial transactions is important for preparing financial statements like balance sheets, preparing tax returns, and monitoring a company’s financial health. Choose a methodology for recording business transactions that works well for your company’s needs. Expense...Read More
Content General Standards Why is GAAP important? Mind the GAAP What Are Generally Accepted Accounting Principles? Principle of Prudence The accountant strives to provide an accurate and impartial depiction of a company’s financial situation. With such a prominent difference in approach, dozens of other discrepancies surface throughout the standards. The chart below includes only a...Read More
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