You can either keep hard copies or opt for electronic files by scanning paperwork. While there are a myriad of courses available for bookkeeper education and training, a good deal of bookkeepers are self-taught since there are no required certifications needed to work as one. The skills needed to become a successful bookkeeper are often…
Claims, on the other hand, are requests for additional compensation due to unforeseen circumstances or disputes. Recognizing revenue from claims requires a high degree of certainty that the claim will be approved and the amount can be reliably estimated. CIP accounting, or Construction-in-Progress accounting, is an essential aspect of accounting for businesses in the construction…
We will also provide practical examples to illustrate these concepts more clearly. Let’s take a look at what the overtime entitlements are in the U.S. and how they can vary by state… Official websites use .govA .gov website belongs to an official government organization in the United States. Where to Obtain Additional Information A cornerstone…
Because so many new cannabis business owners have lots of questions I’ve pulled together the common ones I hear so you can help prospective clients understand the ways accounting professionals can support their businesses. Despite steps taken to untangle and streamline cannabis accounting, such as the SAFE ACT, finance professionals amid or looking to enter…
In addition to tax and monthly bookkeeping, they also do organization and cleanup of financial records. In addition to accounting services and financial statement preparation, this firm specializes in tax-exempt businesses, an excellent feature for charitable organizations needing quality bookkeeping. For the more complicated financial matters a business can face, Marcum can handle wealth management…
For taxable accounts, tax-loss harvesting may be easier when your investments are with a single provider in one account, where you can easily see your gains and losses. Therefore, Company 1 records the investment at 50% of the assets, liabilities, revenues, and expenses of Company 2. So, if Company 1 has revenues of $200 million…