Looking at Fixed Assets in a Balance Sheet

Contrary to a noncurrent, fixed asset, a current asset is an asset that will be used or sold within one year. Current assets can be converted to cash easily to pay current liabilities. Together, current assets and current liabilities give investors an idea of a company’s short-term liquidity. Examples of current assets are cash, cash […]

What is Work in Process WIP Inventory? Definition, Formula Orderhive

Some people consider not storing the WIP and keeping it on the assembly line instead. While this might solve your storage problem, it creates a backlog in the production line and may even create customer dissatisfaction if you cannot supply orders in time. For example, a construction business may calculate and bill another company for […]

How to choose the best payment method for small businesses

QuickBooks Online Payroll costs between $45-$125/month plus $6-$10/month per employee, depending on which of the three QBO Payroll pricing plans you choose. Each pricing plan gains you full-service payroll with automated tax support, but the larger the plan, the more additional features and customer support you have access to. QuickBooks offers a separate product — […]

Who Needs an ITIN or Individual Tax Identification Number?

An ITIN application requires specific documentation that proves your identity and foreign status. In light of recent security breaches, many people are fearful of offering personal data https://capitalprof.team/ and documentation to someone they don’t know, especially through the mail. The process for obtaining an ITIN isn’t always easy – a PATH Act law passed in […]

An Employer’s Guide to Employee Tips

Blueprint is an independent, advertising-supported comparison service focused on helping readers make smarter decisions. We receive compensation from the companies that advertise on Blueprint which may impact how and where products appear on this site. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles […]

Traditional vs High-Yield Savings Account Rates Today: November 14, 2023

This way, you can maximize your interest while keeping cash close. There’s a $10 fee for each withdrawal in excess of six per monthly statement cycle. Unlike some other accounts on our list, there’s no ATM or debit card with this account—Vio has no ATM network—and you can’t write checks either. To get a debit […]

4 7: Gains and Losses on Disposal of Assets Business LibreTexts

If you realize a gain on the exchange of an endowment contract or annuity contract for a life insurance contract or an exchange of an annuity contract for an endowment contract, you must recognize the gain. The following kinds of property dispositions are excluded from these rules. A put is an option that entitles the […]

Difference Between Acid Test Ratio and Current Ratio

Consider a company with $1 million of current assets, 85% of which is tied up in inventory. Receivables, cash and cash equivalents, prepaid costs, marketable securities, and inventory are all examples of current assets that might be utilized. The terms account payable, short-term debt, and accrued obligations are included in the definition of current liabilities. […]

Can You Be an Accountant Without a CPA?

The National Association of State Boards of Accountancy (NASBA) is a valuable resource for accountants planning to pursue licensure. NASBA offers information and links to the 55 jurisdictional accountancy boards that operate in the United States. Consult the board specific to the jurisdiction where you plan to work for details on local licensure requirements. You […]

What are retained earnings in accounting? Sage Advice United Kingdom

Retaining earnings help provide the company with funds for future growth and expansion, including investments in new facilities, equipment, or technology. Retained earnings encompass all earnings retained by the company, whether they come from core business operations, one-time windfalls, or investment gains. It’s vital to differentiate between these sources of earnings when assessing a company’s […]