Category: Bookkeeping

To succeed in this field, aspiring and current accounting professionals should stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace. Collecting and analyzing financial data is a large part of accounting and is an important aspect of identifying patterns and potential issues. In fact, applying data…

The corporation’s federal income, modified by Florida additions, subtractions, and adjustments, undergoes apportionment to Florida. This apportionment is determined by evaluating the corporation’s activities in Florida relative to its overall activities, typically involving factors like property, payroll, and sales. In fact, some counties or municipalities may allow senior citizens with income below a certain level…

You exercised the option on January 7, 2023, when the stock was selling on the open market for $12 a share. Although you held the stock for more than a year, less than 2 years had passed from the time you were granted the option. In 2024, you must report the difference between the option…

To decrease the number of days it takes to sell your stock, you can work to increase your rate of sales. Marketing campaigns, promotions, discounts, and referral systems can get the word out about your products and incentivize quicker purchases. A low DSI means a business can turn its entire inventory into sales quickly—typically an…

General liability insurance forms the foundation of most commercial insurance programs, providing broad coverage for common business risks. The main difference between assets and liabilities is that assets provide a future economic benefit while liabilities represent a future obligation. Together, they form a picture of a small business’s financial standing. It ensures accountability but also…

Take a look at the following statistics related to the make-up of the accounting majors at Kent State University at Kent. The following table and chart show the ethnic background for students who recently graduated from Kent State University at Kent with a master’s in accounting. The following table and chart show the ethnic background…