Accounting

Financial statement manipulation is the practice of altering a company’s financial records to present a false picture of its financial condition. A conservator, trustee, or other representative of the estate of an elder or dependent adult. For the person’s own profit or advantage or for the profit or advantage of another person, but not for the profit or advantage of a person described in subdivision or , commits exploitation of a dependent or an endangered adult, a Class A misdemea […]

Subtract the annual depreciation expense from the book value to calculate the final value. While some accounting software applications have fixed asset and depreciation management capability, you’ll likely have to manually record a depreciation journal entry into your software application.

Is the double declining balance method of depreciation GAAP?

Double-declining depreciation, defined as an accelerated method of depreciation, is a GAAP approved method for discounting the value of […]

A business can buy its own shares, increasing future income and cash returns per share. If executive management feels shares are undervalued on the open market, repurchases are an attractive way to maximize shareholder value. In financial accounting, a cash flow statement is a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents. The cash flow statement, as the name suggests, provides a picture of how much cash is flowing in and out of […]

The accounting clerks will be supervised by one or more accountants. When you work with Supporting Strategies, there’s no need to hire a controller, an HR administrator or an accounts payable manager.

Who does a bookkeeper report to?

Bookkeepers are responsible for providing accurate, up-to-date financial information about a business. They’re always taking the pulse of a business. Most often, their reports go to business owners and managers to help them make decisions.

These […]

The fourth entry closes the Dividends account to Retained Earnings. The information needed to prepare closing entries comes from the adjusted trial balance. You might be asking yourself, “is the Income Summary account even necessary? ” Could we just close out revenues and expenses directly into retained earnings and not have this extra temporary account? We could do this, but by having the Income Summary account, you get a balance for net income a second time.
Printing Plus has $100 […]

You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. Below are some of the most frequently asked questions s regarding gross income and net income. Although the recession following the coronavirus outbreak in 2020 hurt many retailers, J.C. Paychex support is here to help with online resources and responsive service professionals available via phone. Each paystub should display the total amount set aside for deductions with a breakdown […]