Sat.Apr 15, 2023

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How to Identify What’s Draining Your Small Business Budget

Nolan Accounting Center

When you’re just getting started in the small business world, you may find yourself overwhelmed by all of the advice you’re given. Even if you’ve been in business for a while, it’s hard to know what will work and what won’t. In fact, even some experienced business owners tend to rely on outdated practices that yield little to no ROI. Many of these practices actually may be draining your small business budget.

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Preferred stock accounting

Accounting Tools

Related Courses Accountants' Guidebook GAAP Guidebook How to Audit Equity What is the Accounting for Preferred Stock? Preferred stock is a type of stock that usually pays a fixed dividend prior to any distributions to the holders of the issuer’s common stock. This payment is typically cumulative, so any delayed prior payments must be paid to the preferred stockholders before distributions can be made to the holders of common stock.

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article thumbnail

How to Identify What’s Draining Your Small Business Budget

Nolan Accounting Center

When you’re just getting started in the small business world, you may find yourself overwhelmed by all of the advice you’re given. Even if you’ve been in business for a while, it’s hard to know what will work and what won’t. In fact, even some experienced business owners tend to rely on outdated practices that yield little to no ROI. Many of these practices actually may be draining your small business budget.

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Work package definition

Accounting Tools

Related Courses Contract Management Project Management What is a Work Package? A work package is a group of activities for which work is estimated, scheduled, monitored, and controlled. A work package defines work at the lowest level for which cost and duration can be estimated and managed. It is essentially a sub-project. Tasks are commonly aggregated into work packages based on a common factor, such as whether they are located in the same geographic region or will be completed within roughly t

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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The net operating loss carryback and carryforward

Accounting Tools

Related Courses Accounting for Income Taxes Small Business Tax Guide What is a Net Operating Loss Carryback and Carryforward? Net operating loss carrybacks and carryforwards allow a taxpayer to recognize a net operating loss in a tax reporting period other than the current period. When a business reports operating expenses on its tax return that exceed its revenues , a net operating loss (NOL) has been created.

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Production department definition

Accounting Tools

Related Courses Operations Management What is the Production Department? A production department is a group of functions within a business that is responsible for the manufacture of goods. This can include just a few specialized functions with all other work outsourced, or a fully functioning department that converts raw materials , assembles components into finished goods , and packages them.

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Pledged asset definition

Accounting Tools

Related Courses Corporate Finance Treasurer's Guidebook What is a Pledged Asset? A pledged asset is an asset that is being used as collateral on a loan. A pledged asset reduces the risk of the lender , since it can take possession of and sell the asset if the borrower defaults on loan payments. Since the presence of a pledged asset reduces the risk of the lender, the borrower may be able to negotiate for a reduction in the interest rate charged.

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Prepaid dues definition

Accounting Tools

What are Prepaid Dues? Prepaid dues are fees paid to a membership organization, covering a time period that has not yet expired. Accounting for Prepaid Dues The amount of these dues is recorded by the payer in a current asset account (such as prepaid expenses or a separate prepaid dues account). As each successive month in the coverage period expires, a proportionate amount of the prepaid dues is charged to expense.

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Plant assets definition

Accounting Tools

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What are Plant Assets? Plant assets are a group of assets used in an industrial process, such as a foundry, factory, or workshop. These assets are a subset of the fixed assets classification, which includes such other asset types as vehicles, office equipment, and intangible assets. Plant assets fulfill the usual criteria for a fixed asset, which means that their initial cost exceeds the capitalization limit of the entity, and they

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Percentage of completion method

Accounting Tools

Related Courses Auditing Construction Contractors Construction Accounting Revenue Recognition What is the Percentage of Completion Method? The percentage of completion method calculates the ongoing recognition of revenue and expenses related to longer-term projects based on the proportion of work completed. By doing so, the seller can recognize some gain or loss related to a project in every accounting period in which the project continues to be active.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.