What does an accountant do that can benefit your small business? Learn how to get support with monthly reconciliations, tax, audits and more.
Category: Accounting & Bookkeeping
From home office expenses to insurance to equipment write-offs, we answer the 21 most common tax questions from small business owners.
A DIY approach to bookkeeping is time consuming. What does a bookkeeper do and how can a dedicated professional add value for your business?
Recording goodwill impairment just got easier. With an unprecedented number of businesses negatively impacted by the COVID-19 pandemic, the Financial Accounting Standards Board (FASB), approved Accounting Standards Update 2021-03 (ASU) in March 2021 to help businesses get their financial statements in sync with their current economic condition. Any private company or non-profit that shows a higher value on their books than what they could get by selling the business today needs to evaluate whether they can—and if they should—take advantage of this new accounting option.
The accounting cycle is a system of recording, processing, summarizing and communicating all financial transactions in a consistent way. It starts when a transaction occurs, and ends with its representation on financial statements. Once the cycle concludes, steps are taken to begin the next accounting cycle. This signals the start of the next fiscal period.
As a business owner, you probably are already aware of cash basis vs. accrual basis accounting. Here, we’ll explain the differences between them and help you decide which one is right for your business. Finally, we’ll show you how to switch from one to the other.
Financial controller leadership can add significant value for a business by implementing and optimizing processes and providing recommendations to executives.
No matter the size of a business, outsourcing accounts receivable is useful in many aspects. Growth-oriented businesses may not yet require a full-time AR clerk or analyst; enterprise-sized organizations may need to rapidly scale up their accounting departments during busy times of the year. Either way, finding the talent you need, you need it is a powerful … Continued
New year, new teams. As organizations evaluate their staffing needs for 2019, many—with an eye on the upcoming tax season—may be considering their finance team needs.
When selling or merging a business, goodwill is referred to the intangible assets that represent the excess purchase price over the fair market value acquired during the purchase of an organization.