What is a bank reconciliation?
So the company’s accountant prepares an entry increasing the cash currently shown in the financial records. After adjustments are made, the book balance should equal the ending balance of the bank account. Cloud accounting software like Quickbooks makes preparing a reconciliation statement easy. Because your bank account gets integrated with your online accounting software, all […]
Par Value of Stocks and Bonds Explained
If you paid more than par value to buy a bond in the secondary market, the effective interest rate you’d earn on the bond would be lower than the coupon. If you paid less than par value for a bond, the effective interest you’d earn would be higher than the coupon. Shares cannot be sold […]
What is Forensic Accounting? Definition, Types, Services, and Objectives
A forensic CPA will be asked to write expert reports, assist in depositions, testify as an expert witness, conduct fraud investigations and assist in civil and criminal investigations. Investigation is the act of determining whether criminal matters such as employee theft, securities fraud (including falsification of financial statements), identity theft, or insurance fraud have occurred. […]
Botkeeper Services and Software
Consequently, the system maintains a consistent flow of solid reports, whose insights you can rely on for informed decision-making. The deployment process itself involves migrating all your bookkeeping operations to Botkeeper, integrating all the core applications, configuring the entire framework accordingly, and then cleanup comes last. Your own personal bookkeeping bot—no vacations, sick time, or overhead required. […]
How to Read Apple’s Balance Sheet
Companies holding more than one currency can experience currency exchange risk. Currency from foreign countries must be translated to the reporting currency for financial reporting purposes. The conversion should provide results comparable to those that would have occurred if the business had completed operations using only one currency. Translation losses from the devaluation of foreign […]
Opportunity cost Wikipedia
The consideration of opportunity cost remains an important aspect of decision making, but it isn’t accurate until the choice has been made and you can look back to compare how the two investments performed. You chose to read this article instead of reading another article, checking your Facebook page, or watching television. Your life is […]
Accounting Principles Explained: How They Work, GAAP, IFRS
It is the established system in the European Union (EU) and many Asian and South American countries. However, any company that does a large amount of international business may need to use IFRS reporting on its financial disclosures in addition to GAAP. While companies in the United States operate under the generally accepted accounting principles (GAAP), […]
Acquisition method of accounting definition
However, the SEC usually operates in an oversight capacity, allowing the FASB and the Governmental Accounting Standards Board (GASB) to establish these requirements. Governments and public companies abide by these accounting principles to ensure all documents present consistent, accurate, and clear reports. GAAP results in straightforward and understandable financial reports that investors and regulators can […]
Best Accounting Software For eBay Sellers 2023 Review
EBay sellers of all sizes can find accounting software that appropriately fits their needs. And, eBay sellers needing to keep startup expenses at a bare minimum will find a number of options available to them, ranging accounting for ebay sellers from free to a minimal monthly subscription cost, as well. Growing eBay sellers or sellers […]
