Intuit

NOVEMBER 20, 2023

Table of Contents Weekend Jobs in Accounting 5 Accounting and Tax Jobs to Boosts Your Weekend Income What's the Life of a Remote Accountant Like? When's the Best Time for Job Searching in Accounting? How Do I Get an Accounting Job Without Experience?

Tax 130

Tax Accounting Accounting QuickBooks 130

Accounting Tools

OCTOBER 26, 2023

Related Courses Accountants' Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is the Cost Principle? The cost principle requires one to initially record an asset , liability , or equity investment at its original acquisition cost.

Financial Reporting 40

Financial Reporting Bookkeeping Accounting Accounting 40

Accounting Tools

MAY 21, 2023

Related Courses Bookkeeping Guidebook Closing the Books New Controller Guidebook What are Accounting Adjustments? An accounting adjustment is a business transaction that has not yet been included in the accounting records of a business as of a specific date. Recognizing revenue that has not yet been billed.

Accruals 75

Accruals Accounting Accounting Billing 75

Accounting Tools

MAY 21, 2023

These analyses are typically presented on a trend line , so that you can detect any changes in the financial position of the reporting entity over time. If an entity is instead using a single entry accounting system , there is no easy way to construct the statement, which is usually compiled manually.

Financial Statements 74

Financial Statements Accounts Payable Accounts Payable Financial Reporting 74

Counto

MARCH 23, 2024

Evolution of Global Accounting Standards Globalisation spurred the need for uniform accounting standards. The International Accounting Standards Committee laid the groundwork in 1973, leading to today’s International Financial Reporting Standards (IFRS). Nature of Business: Complexity of transactions and business model.

Financial Reporting 52

Financial Reporting Accruals Financial Statements Corporation Tax 52

Counto

MAY 1, 2024

Eligibility Criteria To qualify for an EntrePass, applicants must: Plan to start, or have recently started, a private limited company registered with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore. Step 2: In-Principle Approval Once the application is processed, applicants receive an In-Principle Approval (IPA) letter.

Financial Statements 52

Financial Statements Collections Auditing Accounting 52

Accounting Tools

JUNE 20, 2023

Related Courses Accountants' Guidebook Fraud Examination Fraud Schemes What is Commercial Substance? A business transaction is said to have commercial substance when it is expected that the future cash flows of a business will change as a result of the transaction.

Financial Statements 75

Financial Statements Tax Accounting Accounting 75

Accounting Tools

SEPTEMBER 7, 2023

The retained earnings formula is a calculation that derives the balance in the retained earnings account as of the end of a reporting period. Thus, the retained earnings balance is changing every day. This will alter the beginning balance portion of the formula. It is quite possible that a company will have negative retained earnings.

Financial Statements 75

Financial Statements Accounting Accounting 75

Accounting Tools

MAY 19, 2023

Related Courses Cost Accounting Fundamentals Cost Management Guidebook What is a Deferred Cost? You may also defer recognition of a cost in order to recognize it at the same time as related revenue is recognized, under the matching principle. Once March arrives, you consume the asset and change it into rent expense.

Financial Reporting 74

Financial Reporting Cost Accounting Accounting Accounting 74

Accounting Tools

JULY 30, 2023

Related Courses Accounting for Income Taxes What is an Intraperiod Tax Allocation? Related Articles Interperiod Tax Allocation An intraperiod tax allocation is the allocation of income taxes to different parts of the results appearing in the income statement of a business, so that some line items are stated net of tax.

Tax 75

Tax Financial Statements Accounting Accounting 75

Accounting Tools

SEPTEMBER 29, 2023

Related Courses Bookkeeping Guidebook New Controller Guidebook What is an Accounting Estimate? An accounting estimate is an approximation of the amount of a business transaction for which there is no precise means of measurement. The amount of an accounting estimate is based on historical evidence and the judgment of the accountant.

Accruals 40

Accruals Accounting Accounting Financial Statements 40

Accounting Tools

JANUARY 9, 2024

How to Classify the Cost of Goods Sold The cost of goods sold is considered to be linked to sales under the matching principle. Instead, the costs associated with goods and services are recorded in the inventory asset account, which appears in the balance sheet as a current asset.

Financial Statements 40

Financial Statements Cost Accounting Accounting Accounting 40

Counto

MAY 2, 2024

Comparative Advantage Over Other Passes The ONE Pass distinguishes itself with several unique benefits compared to other employment passes: Employment Flexibility: Unlike other passes, the ONE Pass is tied to the individual, not the employer, allowing for seamless job changes or simultaneous engagements with multiple companies.

Tax 52

Tax Accounting Accounting 52

FinOps in Practice

OCTOBER 24, 2022

In this article, we will turn to the best practices of Google Cloud Resource Management and figure out how to optimize cloud costs. Don’t treat your cloud structure as something set in stone – it’s completely normal for it to change as your organization changes and expands.

Billing 130

Billing FinOps FinOps Invoicing 130

Accounting Tools

FEBRUARY 13, 2024

Materiality is sometimes construed in terms of net impact on reported profits , or the percentage or dollar change in a specific line item in the financial statements. Materiality is the threshold above which missing or incorrect information in financial statements is considered to have an impact on the decision making of users.

Financial Statements 40

Financial Statements Accounting Accounting 40

Accounting Tools

AUGUST 3, 2023

Related Courses Accounting Changes and Error Corrections What is a Change in Accounting Policy? A business develops accounting policies in order to ensure that relevant and reliable financial information is created.

Accounting 40

Accounting Accounting Financial Statements Bookkeeping 40

Accounting Tools

JULY 24, 2023

Related Courses Accounting Changes and Error Corrections What is a Change in Accounting Estimate? When accounting for business transactions , there will be times when an estimate must be used. In some cases, those estimates prove to be incorrect, in which case a change in accounting estimate is warranted.

Accounting 40

Accounting Accounting Financial Statements Bookkeeping 40

Accounting Tools

APRIL 9, 2024

A warranty liability is a liability account in which a company records the amount of the repair or replacement cost that it expects to incur for products already shipped or services already provided. As the selling party incurs actual warranty costs, it charges them against the liability account. What is a Warranty Liability?

Financial Statements 40

Financial Statements Accounting Accounting 40

Counto

MAY 4, 2024

Explore Counto’s all-inclusive accounting plans—designed to cover everything from multi-currency bookkeeping to unlimited transactions and corporate tax filing, all without hidden fees. Learn more about our accounting services here. Any changes in your business details must be updated via GoBusiness.

Corporation Tax 83

Corporation Tax Auditing Bookkeeping Computation 83

Accounting Tools

DECEMBER 26, 2023

Second, it must allocate costs to its inventory on hand at the end of the reporting period, as required under both Generally Accepted Accounting Principles and International Financial Reporting Standards. For example, ABC Company decides to change its allocation measure to hours of machine time used.

Budgeting 75

Budgeting Cost Accounting Financial Reporting Accounting 75

Accounting Tools

DECEMBER 19, 2023

The exact nature of these footnotes varies, depending upon the accounting framework used to construct the financial statements (such as GAAP or IFRS ). Accounting policies. Describe significant principles followed. Accounting changes. Reconcile any changes in goodwill during the period, and any impairment losses.

Financial Statements 40

Financial Statements Reconciling Auditing Accounting 40

Accounting Tools

APRIL 6, 2024

There may also be a discussion of the headcount changes that are required to achieve the budget. The selling and administrative expense budget may be further subdivided into budgets for individual departments, such as the accounting, engineering, facilities, and marketing departments. Sales budget.

Budgeting 74

Budgeting Accounts Receivable Accounts Receivable Account Receivables 74

Accounting Tools

OCTOBER 9, 2023

Related Courses GAAP Guidebook International Accounting What is a Statement of Financial Accounting Standards? A statement of financial accounting standards (SFAS) gives detailed guidance on how to deal with a specific accounting issue.

Financial Accounting 40

Financial Accounting Accounting Accounting Financial Statements 40

Outsourced Bookeeping

MARCH 7, 2024

According to industry experts, following the best practices of accounting and reporting practices not only contributes to strategic decision-making but also protects the financial health of your real estate business. We have listed down the best practices in accounting and reporting for you.

Outsourced Bookkeeping 59

Outsourced Bookkeeping General Ledger Accounting Accounting 59

Accounting Tools

OCTOBER 28, 2023

Related Courses Accounting for Inventory How to Audit Inventory What is Next In, First Out? This concept is not allowed under any of the accounting frameworks (such as GAAP and IFRS ), so it cannot be used in the preparation of financial statements that are supposed to be constructed under an accounting framework.

Financial Statements 40

Financial Statements Auditing Accounting Accounting 40

Accounting Tools

OCTOBER 12, 2023

The first situation is caused by bad internal processes or changes in the ability of a customer to pay. Accounting for Bad Debt There are two ways to record a bad debt, which are the direct write-off method and the allowance method. An organization using the accrual basis of accounting will probably use the allowance method.

Accounts Receivable 75

Accounts Receivable Accounts Receivable Account Receivables Accruals 75

AP Association

APRIL 7, 2022

Accounts payable (AP) is an integral part of business finance that works to ensure that companies are effectively handling their financial obligations. Although traditionally performed using manual processes and physical documentation to function, the advent of digital solutions is changing that.

Accounts Payable 130

Accounts Payable Accounts Payable AP Accounting 130

Accounting Tools

APRIL 8, 2024

Related AccountingTools Courses Cost Accounting Fundamentals Revenue Management Example of Target Pricing Scuba Corporation wants to use target pricing principles to design and sell a high-end scuba regulator. In addition, the cost accountant reports on any other cost-savings opportunities as they arise. What is Target Pricing?

Cost Accounting 40

Cost Accounting Accounting Accounting 40

Outsourced Bookeeping

MARCH 7, 2024

According to industry experts, following the best practices of accounting and reporting practices not only contributes to strategic decision-making but also protects the financial health of your real estate business. We have listed down the best practices in accounting and reporting for you.

Outsourced Bookkeeping 52

Outsourced Bookkeeping General Ledger Accounting Accounting 52

Accounting Tools

NOVEMBER 3, 2023

Related Courses Accounting for Income Taxes What is a Permanent Difference in Tax Accounting? The following transaction types represent permanent differences when accounted for within the United States: Meals and entertainment. Related Articles Deductible Temporary Difference Timing Differences Municipal bond interest.

Financial Reporting 40

Financial Reporting Tax Accounting Accounting 40

Less Accounting

JUNE 15, 2023

Accounting can often be a daunting task, especially when you have a lot on your plate already. However, it’s crucial to understand the basics of accounting and to set up a proper system to avoid any potential financial mishaps down the line. Accounting principles are the foundation of your financial statements.

Financial Statements 52

Financial Statements Accounting Accounting Budgeting 52

Accounting Tools

AUGUST 7, 2023

Related Courses Accountants' Guidebook GAAP Guidebook What is a Subsequent Event? Subsequent Event Reporting Generally accepted accounting principles state that the financial statements should include the effects of all subsequent events that provide additional information about conditions in existence as of the balance sheet date.

Financial Statements 75

Financial Statements Collections Invoicing Accounting 75

Counto

JANUARY 11, 2024

However, recent changes in regulations have significantly impacted access to the EP and its salary requirements. Receive the In-Principle Approval (IPA). Impact of Changes on Businesses These updates aim to provide businesses with access to the right talent pool and fair compensation for foreign workers. Time is money.

Payroll 52

Payroll Financial Services Tax Accounting 52

Counto

FEBRUARY 24, 2024

Appointing a Company Secretary in Singapore When establishing a company in Singapore, it’s essential to appoint a corporate secretary within six months of incorporation, as mandated by The Accounting and Corporate Regulatory Authority (ACRA). Appointing a Corporate Secretary: What are Their Roles & Responsibilities?

Record Keeping 40

Record Keeping Accounting Accounting 40

Counto

FEBRUARY 6, 2023

In this article, we will explore the evolution of the role, its impact on businesses, and the importance of having a company secretary in place. A sound digital strategy that aligns with the organisation’s business objectives will help the company secretary keep up with the changing times. What is a company secretary?

Bookkeeping 52

Bookkeeping Tax Accounting Accounting 52

Counto

FEBRUARY 6, 2023

In this article, we will explore the evolution of the role, its impact on businesses, and the importance of having a company secretary in place. A sound digital strategy that aligns with the organisation’s business objectives will help the company secretary keep up with the changing times. What is a company secretary?

Bookkeeping 52

Bookkeeping Tax Accounting Accounting 52

Accounting Tools

SEPTEMBER 21, 2023

Related Courses Cost Accounting Fundamentals Cost Management Guidebook What are Direct Costs? Related Articles Direct Costing Direct Labor Cost Direct Material Cost Examples of Direct Costs A direct cost is totally traceable to the production of a specific item, such as a product or service. There are very few direct costs.

Cost Accounting 40

Cost Accounting Financial Reporting Accounting Accounting 40