The contribution amounts listed above are increased by $1,000 for a qualified individual who is age 55 or older at any time during the year. For two qualified individuals who are married to each other and who are each age 55 or older at any time during the year, each spouse’s contribution limit is increased …
Fed Holds Interest Rates Steady and Pledges to Proceed Carefully The New York Times Read More »
The first type of inventory transaction you’d make would involve buying raw materials inventory, or the materials you use to make your products. You’ll have to have a basic understanding of the inventory cycle and double-entry accounting methods to make the proper entries. If your business manufactures products instead of offering services, you’ll need to …
To evaluate the price difference, you’re looking for a different accounting formula called the direct material price variance. This variance demonstrates if more or less material is used than expected. Businesses that use the standard costing system to value inventory need to estimate standard prices and quantities for all direct materials. You’ll use those figures …
The entry system you choose impacts how you manage your finances and how your bookkeeping processes will work. Among the ones included in our list, the monthly pricing varies from $17 a month to $90 per month. Pricing varies by company, plan and each plan’s respective features and capabilities. Often, you’ll find that an accounting …
What Small Business Owners Should Know About Bookkeeping Read More »
As I explained also in the last article, the bank pays customers interest on their deposits and it earns interest on the loans it extends to borrowers. The difference between the interest earned and interest expense is the net interest income or NII. This is how profitable your business is after subtracting all internal costs, …
Understanding an Income Statement Definition and Examples Read More »
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