An Explanation of Extraordinary Items for Depreciation Expense With Examples
Both depreciation and extraordinary items denote loss, and depress pre-tax income in a big way. Including extraordinary items for depreciation expense …
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Calculating the Depreciation of Rental Property
If you own rental property, whether it’s residential or nonresidential, both can be the source of confusion when trying to navigate through the …
Continue ReadingThe Importance of Internal Service Funds & Journal Entries
What are internal service funds and how are they recorded in the general ledger? If your company has multiple departments, chances are these …
Continue ReadingCash Flow Tips for Small Business Owners: Optimize Pay-Outs and Pay-Ins
Positive cash flow is the lifeline of any business, more so for small businesses that depend on timely realization of their receivables to fund …
Continue ReadingJust What Is a Cash Flow Note?
In times of economic squeeze a cash flow note makes not just for a safe, attractive and legit way of realizing cash but also a good investment …
Continue ReadingWhat Is Included on an Audit Report of a Private Company?
Audit reports are formal opinions made by public accountants. Investors and other stakeholders value such reports highly as it provides an objective …
Continue ReadingAn Illustration of a Capital Budget: Example Using Farm Operations
Capital budgeting is evaluation of investments or one-time expenditures aimed at generating revenue in future. Read on for an illustration of this …
Continue ReadingFree Sample of an Accounts Payable Assessment
The accounts payable function is important for the smooth running of an enterprise. It is, therefore, important to have appropriate internal controls …
Continue ReadingThe Need for an Accounts Payable Flowchart
The accounts payable function within an enterprise is an important part of the day to day functioning of the business. Adequate internal controls are, …
Continue ReadingFree Examples of Accounting Journal Entries for Sales and Use Tax
Businesses that collect state sales taxes from customers must keep track of taxes received in order to pay them—usually on a monthly or quarterly …
Continue ReadingCash Flow Management Tools: Take Control of Your Business
Cash flow is everything in a business. It’s needed to keep the doors open, pay employees and vendors, and cover overhead expenses. Managing cash flow …
Continue ReadingFree General Ledger Templates for Microsoft Excel
A general ledger is the meat and potatoes of any accounting system. What is posted within a general ledger finds its way to other important financial …
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