How to Calculate Trade Receivables and Allowances

If appropriate, the receivable should be clearly identified and listed on the balance sheet. It is no use making a credit sale to a questionable customer just to achieve the sale. On the other hand, over enthusiastic vetting at this stage could result in lost sales to potentially good customers. Notes have a specific definition […]

How Agricultural Accounting is Different + Why You Need a Farm Accounting Solution

Understanding and adopting farm-specific accounting methods can mean the difference between living your dream or just dreaming about it. At the end of the day farming is a business and accounting (for better or worse) is a big part of that. Read on for some tools, tips and key agriculture accounting standards to adopt for […]

Accounting Equation Assets, Liabilities, Owners Equity

You can also conclude that the company has assets or resources of $9,900 and the only claim against those resources is the owner’s claim. Since ASC has not yet earned any revenues nor incurred any expenses, there are no amounts to be reported on an income statement. Owner’s or stockholders’ equity also reports the amounts […]

About Form 941, Employer’s Quarterly Federal Tax Return Internal Revenue Service

We need it to ensure that you’re complying with these laws and to allow us to figure and collect the right amount of tax. Section 6011 requires you to provide the requested information if the tax is applicable to you. Section 6109 requires you to provide your identification number. You’re not required to provide the […]

Wolters Kluwer Future Ready Accountant Report

This ensures not only compliance with financial regulations but also provides a clearer picture of your company’s financial health and trajectory. Technology has profoundly transformed accounting by automating routine tasks, improving data accuracy, and enabling real-time access to financial information. This shift allows accountants to focus more on strategic analysis and advisory roles rather than […]