Kategorie: Bookkeeping

Double-Declining Balance DDB Depreciation Method Definition With Formula

This article will serve as a guide to understanding the DDB depreciation method by explaining how it works, why it can be beneficial, and its potential downsides. Yes, it is possible to switch from the Double Declining Balance Method to another depreciation method, but there are specific considerations to keep in mind. Businesses choose to…
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18. November 2021 0

Favorable versus Unfavorable Variances Accounting for Managers

We should allocate this $2,000 to wherever those direct materials are physically located. However, if $2,000 is an insignificant amount, the materiality guideline allows for the entire $2,000 to be deducted from the cost of goods sold on the income statement. Thus, favorable and unfavorable variances signify two opposite situations. The below-mentioned points explain the…
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18. November 2021 0

Difference Between a Favorable & Unfavorable Variance

Sometimes, there could be a discrepancy in your data accuracy simply because of a typo during entry. Other times the variance could be the result of something more complicated like price or volume being different from what was budgeted. Understanding where the variance took place in your budget can help you keep track of your…
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17. November 2021 0

Church Accounting, Bookkeeping & Payroll

Questions such as “Do you understand the church bookkeeping, chart of accounts, and designated funds? You are probably not alone if the daily bookkeeping process is your most stressful time of the week. Whether you are the church bookkeeper, treasurer, or human resources professional, managing the church finances can be challenging. Learn about how Jitasa’s…
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16. November 2021 0

Accountant for Churches Accounting for Church

It also includes more advanced tasks such as the preparation of yearly statements, required quarterly reporting and tax materials. Simply put, hiring a virtual assistant is going to be more cost-flexible than hiring a full-time bookkeeper. The Dennison CPA team has been providing financial guidance to churches and other Christian organizations throughout the U.S. since…
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15. November 2021 0

Analyzing a Banks Financial Statements: An Example

For example, balances over $5,000 may have a lower interest rate or earn no interest at all. Lastly, I want to take note of the Securities and Exchange Commission’s adoption last month of a requirement for broader central clearing for cash and repo transactions in the Treasury market. While broader central clearing won’t cure all…
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15. November 2021 0

Analyzing a Banks Financial Statements: An Example

For example, balances over $5,000 may have a lower interest rate or earn no interest at all. Lastly, I want to take note of the Securities and Exchange Commission’s adoption last month of a requirement for broader central clearing for cash and repo transactions in the Treasury market. While broader central clearing won’t cure all…
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15. November 2021 0

Bank Overdraft: Journal Entry and Example

Alternatively, include the negative cash in the definition of cash (rather than in accounts payable). In doing so, you combine the cash overdraft with other cash (that with positive balances) in the cash flow statement. The beginning and ending cash–in the cash flow statement–should include the negative cash amounts. Harold Averkamp (CPA, MBA) has worked…
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12. November 2021 0

Bank Overdraft: Journal Entry and Example

Alternatively, include the negative cash in the definition of cash (rather than in accounts payable). In doing so, you combine the cash overdraft with other cash (that with positive balances) in the cash flow statement. The beginning and ending cash–in the cash flow statement–should include the negative cash amounts. Harold Averkamp (CPA, MBA) has worked…
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12. November 2021 0

How I’ve Taken 6 Business Class Trips for Free

Our picks of the best online savings accounts can earn you 10x the national average savings account rate. Click here to uncover the best-in-class accounts that landed a spot on our short list of the best savings accounts for 2024. Skip the guesswork and start with the right knowledge with our free guide to the…
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8. November 2021 0