We can expand the equity component of the formula to include common stock and retained earnings. It’s called the Balance Sheet (BS) because assets must equal liabilities plus shareholders’ equity. A liability, in its simplest terms, is an amount of money owed to another person or organization. Said a different way, liabilities are creditors’ claims on …
Checks/Cheques that have not been deposited to the bank are said to be unpresented. This term is used most often on bank reconciliations to aid another word for bookkeeping in the reconciling of the cash book with the bank account. The opening balances are the values found on the first day of the financial period. …
This can mean creating operational efficiencies in their processes, recommending software or systems, or instituting best practices and frameworks to spot red flags before they become bigger issues. With hundreds of VC-backed startups in NYC and beyond, the Kruze team of CPAs and accounting professionals has the knowledge to help funded startups. As the venture …
Since a license is an intangible asset, it needs to be amortized over the five years prior to its sell-off date. There are several different ways to calculate amortization for small businesses. Some examples http://cubemc.ru/changes_in_the_unified_state_register/ include the straight-line method, accelerated method, and units of production period method. However, the service life could be considerably shorter …