Accounting

In that case, to get the job done—creating a chart of accounts, creating trial balances, and producing monthly financial reports—you should consider talking to a bookkeeper. General ledger accounts post to the balance sheet or the income statement. These categories stay in place, regardless of the business’s accounting method. A journal entry includes an account number, a date, a dollar amount, and a description of the entry. In some cases, accountants post information to control accounts […]

While LIFO liquidation, inventory may be segregated and pooled together with similar other items for better and more realistic calculation. We note from the above SEC Filings; the company mentions that the inventory quantities were reduced due to which the carrying cost of the remaining inventory is lower than that of the previous year. If this situation continues the remaining part of the year, the LIFO liquidation may happen and will result in an impact on the results of operations. Operating […]

Also, the IRS may choose to subject you to a backup withholding order for other reasons, such as you have failed to account for some of your income, and you have to comply until the issues can be sorted. Backup withholding is a taxation method that the IRS uses to withhold some types of personal and business income.
There are also multiple types of payments that backup withholding doesn’t apply to. For example, unemployment payments, retirement account payments, and real estate transactio […]

After you figure the full-year depreciation amount, figure the deductible part using the convention that applies to the property. However, it does not reflect any reduction in basis for any special depreciation allowance.. After you figure your special depreciation allowance for your qualified property, you can use the remaining cost to figure your regular MACRS depreciation deduction . Therefore, you must reduce the depreciable basis of the property by the special depreciation allowance before […]

At this point, the changes in all related accounts have been utilized to determine the two transactions for the period and the cash inflows and outflows. In the statement of cash flows for this company, the investing activities are listed as follows. Cash flow from investing activities is one of the sections on the cash flow statement that reports how much cash has been generated or spent from various investment-related activities in a specific period. Investing activities include purchases of […]

There can be multiple motivations for examining the idea of customer profitability, and it is more complex than just selling a product or service at a loss, or telling a customer goodbye. Before a company decides to say goodbye to a whole segment of customers a customer profitability analysis is a must. This categorization shows there are several different ways companies can serve profitable customers.

What is CRM in simple words?

This is a simple definition of CRM.
Customer relationship […]