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

Content Step 3: Maintain Compliance with Client Funds Accounts What are some tips for effective bookkeeping for a law firm? Common legal accounting and bookkeeping mistakes The “Big Four” is the nickname used to refer collectively to the four largest accounting firms in the U.S. Aside from auditing services, the Big Four offer tax law, strategy and...Read More

Content Accounting Instruction, Help, & How To (Financial & Managerial) Correspondent / Southern California News Group Which of the following is NOT true of the cash over and short account? What is a Cash Over and Short Account? How to Control Deficiencies in Sales & Cash Receipts Cash Over and Short – What is Cash...Read More

Content Insurance Business Name Change Changing your tax year Steps to Take to Close Your Business Internal Revenue Service What New Business Owners Need to Know About Federal Taxes Business Income How To Figure Cost of Goods Sold An election cannot be made for a tax year if an election was made for 5 or...Read More

Content What is PE ratio? What is a P/E Ratio? Shiller PE ratio What Does A Negative P/E Ratio Mean? PayPal Holdings PE Ratio 2013-2023 PYPL P/E Ratio Formula What is the price-earnings ratio? Calculating P/E ratio How to Use the P/E Ratio Calculator It’s common for company management to issue earnings forecasts for subsequent...Read More

Keep your cash box secure by storing it in a safe or locked cabinet when not in use, and avoid sharing the access code or keys with too many people. Implementing these tips will help keep your money and valuables safe and secure. Whether you call it a cash box, security box, or money-safe, proper...Read More

Content Accounts Payable Keep comprehensive law firm records How to Create a Successful Law Firm Marketing Strategy in 2022 What’s the difference between accounting and bookkeeping? If you don’t have a strong accounting practice handling your affairs, you might be surprised at all the expenses you incur and pay each month. MyCase helps increase accuracy...Read More

Content Accounting for Health Care Organizations We Provide Cost-Effective Bookkeeping Services for Medical Companies Bookkeeping in the Medical Office: How to Help Profitability What is a Medical Assistant? Common financial & billing errors in medical offices The basics of accounting for medical practices Notably, when hospitals receive payment from insurers, those funds are usually only...Read More

This can result in the transaction appearing to clear a second time in subsequent months. It’s common to find discrepancies during routine examinations – the earlier the better. Luckily, QuickBooks Online allows undoing reconciliation if there are discrepancies between transactions in accounting and bank statements that need to be fixed. You can perform some easy...Read More

Almost 700 unique accounting questions with PDF available inside with questions, answers, and explanations. Learn accounting and finance concepts fast and fun using contents from lessons covered in the Accounting Flashcards App. So, how did you score on the accounting principles practice test above? More importantly, did you really know the answers, or did you...Read More