Warranties covering more than one year are also recorded as current liabilities. Other examples are deferred benefits, deferred income and certain health debt. Let’s say a business pays off a $238,000 mortgage loan and has to pay about $4,500 a month. Each monthly payment includes a principal payment of $3,000 plus interest of approximately $1,500. […]
In future, accountants may need to provide professional judgements during the accounting process (McGuigan and Ghio, 2019; Dai and Vasarhelyi, 2017). Moreover, with an increase in the number of cryptoassets and initial coin offerings (ICOs) accountants may also need to develop their skills as advisors and consultants on how to report these kinds of assets […]
According to accounting historian Stephen Zeff in The CPA Journal, GAAP terminology was first used in 1936 by the American Institute of Accountants (AIA). Federal endorsement of GAAP began with legislation like the Securities Act of 1933 and the Securities Exchange Act of 1934, laws enforced by the U.S. Today, the Financial Accounting Standards Board […]
According to accounting historian Stephen Zeff in The CPA Journal, GAAP terminology was first used in 1936 by the American Institute of Accountants (AIA). Federal endorsement of GAAP began with legislation like the Securities Act of 1933 and the Securities Exchange Act of 1934, laws enforced by the U.S. Today, the Financial Accounting Standards Board […]
As well as emitting CO2 from burning fuel, planes affect the concentration of other gases and pollutants in the atmosphere. They result in a short-term increase, but long-term decrease in ozone (O3); a decrease in methane (CH4); emissions of water vapour; soot; sulfur aerosols; and water contrails. While some of these impacts result in warming, […]
You can see what we’re best at and who we work with, or just contact us to talk about particular needs of your business. For these reasons, it may be a good idea to partner up with a company with offices in your home country and at least several years of experience in business and […]
You must also include original documentation or certified copies from the issuing agency to prove identity and foreign status. Is it b) submitting a clarified auditing standards complete application to a certified acceptance agent? Is it c) attaching notarized copies of documents through the Form W-7 submitted to the IRS? You can apply for an […]
Bookkeeping services for doctors help to meet industry-specific accounting and compliance requirements. At RSCPA Firm, we specialize in providing comprehensive accounting services tailored to the healthcare industry. Our experienced team of accountants understands the unique challenges and opportunities you face as a healthcare professional in Brampton. Meru Accounting is a team of experienced accountants specialising […]
ROE measures the income level an insurance firm is generating as a percentage of shareholder’s equity or book value. An ROE of around 10% suggests a firm is covering its cost of capital and generating an ample return for shareholders. The higher the better, and a ratio in the mid-teens is ideal for a well-run […]
This is important to note before any other expense account because of the impact returns have on your income. Many companies strive to have a percentage limit to their returns based on sales. Let’s say the company doesn’t want more than 1% in returns, the income statement will help you determine if you have met […]