Accounting Tools

DECEMBER 30, 2023

What is a Remainder Beneficiary? A remainder beneficiary is a person who is entitled to receive principal when the income interest in a trust ends. This typically means that the income from a trust goes to one or more income beneficiaries , either for a fixed period of time or until a future event (such as their deaths). At that time, the remaining amount in the trust is transferred to the remainder beneficiaries. in short, the remainder beneficiary is second in line to inherit after the primary

Accounting 40

Accounting Accounting 40

Accounting Tools

DECEMBER 30, 2023

What is Intellectual Property? Intellectual property is a concept or idea that has commercial value and can be protected with a copyright, patent, or trademark. A business may go to great lengths to obtain legal protections for its intellectual property, and take legal action to pursue anyone using these assets without permission. Examples of Intellectual Property The main types of intellectual property are patents, trademarks, copyrights, and trade secrets.

Accounting 40

Accounting Accounting 40

Accounting Tools

DECEMBER 30, 2023

What is a Check Stub? A check stub is attached to a check , and provides the detail regarding the amount paid. The contents of a check stub typically include the invoice number paid and the amount paid, which sums to a grand total paid. When a check stub relates to a paycheck, it itemizes the gross amount being paid, minus all pay deductions, resulting in a net pay figure.

Accounts Payable 40

Accounts Payable Accounts Payable Invoicing Bookkeeping 40

Accounting Tools

DECEMBER 30, 2023

What is a Settlor? A settlor is the party whose role is to transfer control of an asset to a trustee, who then manages it on behalf of various beneficiaries. This is done by establishing a trust agreement. Trusts are used to hold money and other assets during the period following the death of the settlor, so that the associated assets can be readily transferred to the designated beneficiaries.

Accounting 40

Accounting Accounting 40

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.

Accounting

Accounting Tools

DECEMBER 30, 2023

What is the Sales to Total Assets Ratio? The sales to total assets ratio measures the ability of a business to generate sales on as small a base of assets as possible. When the ratio is quite high, it implies that management is able to wring the most possible use out of a small investment in assets. A lower ratio implies that management is not so effective in its use of assets.

Financial Statements 40

Financial Statements 40

Accounting Tools

DECEMBER 30, 2023

What is a Variance? A variance is the difference between an actual measured result and a basis, such as a budgeted amount. In many accounting applications, a variance is considered to be the difference between an actual cost and a standard cost. There are a multitude of possible variances that can be reported to management, so the person reporting this information should be selective in only forwarding those variances that management can take action to correct.

Budgeting 40

Budgeting Cost Accounting Accounting Accounting 40