For weekly calculations, FTE equals total hours worked divided by standard weekly hours (e.g., 40 hours). Monthly FTE is total hours divided by standard monthly hours (e.g., 160 hours). Yearly FTE divides total hours by standard yearly hours (e.g., 2,080 hours). Part-time and seasonal workers contribute to FTE by calculating their hours worked as a …
Bookkeeping focuses on recording and organizing financial data, including tasks such as invoicing, billing, payroll and reconciling transactions. Accounting is the interpretation and presentation accounting vs bookkeeping of that financial data, including aspects such as tax returns, auditing and analyzing performance. There are critical differences in job growth and salaries between the two. They often …
Financial and Managerial Accounting Online Tutorial Quiz Leer más »
These accountants tend to transition into a private accounting role if they prefer the nature of the work it offers. Public accountants work for individuals, businesses, or the government and may specialize in areas such as taxation, consulting, or auditing. Public accountants who meet certain qualifications can seek licensure to work as certified public accountants …
It provides unmatched accessibility and mobility, empowers businesses with real-time data analysis and insights, enables collaborative financial management, and offers increased security and data backup. Adopting cloud accounting software can transform financial operations, improve decision-making, and drive business growth in today’s dynamic and digitally-driven business environment. For features and functionality, we primarily looked for software …
Unlocking Financial Potential: The Power of Cloud Accounting Leer más »
Enable invoice payments by credit card for a pay-as-you-go fee as low as 2.9% + 60¢, and watch the money roll in. Know when an invoice is viewed, becomes due, or gets paid, so you can take the right actions to manage your cash flow. Set up invoice reminders to automatically email your customers when …
Hence, the basic objective of the cost concept is the measurement of accurate and reliable profits and losses for a business over a period of time. However, under the cost concept, the accounting records will continue to show the value of the building at the cost price of $100,000 less depreciation. In the accounting records, …
Cost Concept of Accounting Characteristics and Relevance Leer más »
Cryptocurrencies are a virtual currency that allows people across countries to do business without adding costs to the transaction by charging a currency conversion fee. The fees you get charged using cryptocurrency are usually less than the 3% charged by a credit card. The currency is essentially a mobile app or computer program that acts …
8 Cryptocurrency Bookkeeping Tips for CPAs and You Leer más »
It’s been used for decades under international commercial law to help standardize rules and regulations governing the transport of goods across borders. This isn’t just a hypothetical scenario—it’s a crucial question that hinges on the shipping agreement between the two businesses. If the terms were set as FOB shipping point, Nevada Grocers would shoulder the …
Comparing FOB Shipping vs FOB Destination: What’s the Difference? Leer más »
Communicating your needs to your virtual bookkeeping service is essential to setting up the right team. While it’s always helpful to have an accountant on staff, it’s not always practical for some businesses. For instance, if you run a small organization, you may not bookkeeping for realtors have the workload or the funds to justify …
Real estate accounting: A clear and simple guide for 2022 Leer más »
If you want to keep this part of your business closer to home, check for local AR/AP services in your area. Save time and improve operational efficiency — By spending less of your day overseeing bills and payroll, you’ll free up valuable time that can be redirected back into managing and growing your business. The …
Accounts Payable Outsourcing: Here’s What You Need to Know Leer más »
