Category Archives: Bookkeeping

How To Determine an Asset’s Salvage Value

Other times, it’s about figuring out how much it’s worth when it’s done for good, minus the cost of getting rid of it. Salvage value might only focus on its worth when it’s done, without considering selling costs. Salvage value helps to figure out how much your old stuff is worth when it’s done being […]

What is Industry Accounting?

Tax professionals include CPAs, attorneys, accountants, brokers, financial planners and more. Their primary job is to help clients with their taxes so they can avoid paying too much or too little in federal income or state income taxes. A certified public accountant (CPA) is a type of professional accountant with more training and experience than […]

A Comprehensive Guide on Returned Merchandise Journal Entries

You might offer free returns, charge a restocking fee, accept returns only with a receipt, or not accept returns at all. Or, maybe you decide to compensate customers returning items with store credit. These two journal entries complete the accounting process required in the books of the seller for the return of merchandise. Journal Entry […]

Top 12 AI Tools for Accountants in 2024

AI data analysis and financial analysis include analyzing financial statements and revenue and expense trends for anomalies and commentary. AI can help your company analyze its spend management and identify opportunities for cost savings. Business support function improvement can be achieved by using AI accounting software with automation. Top 12 AI Accounting Tools for 2024 […]

Is Common Stock an Asset or Liability on a Balance Sheet? The Motley Fool

In order to find the amount of common stock in circulation, you can look for the common stock on balance sheet publications. In conclusion, this blog has discussed how to calculate common stock on balance sheet. Calculating common stock on a balance sheet is a fundamental task that provides insight into a company’s ownership structure […]