Bank accounts, trust accounts and QuickBooks Online are in continuous sync and in-line with state bar standards, so you are well positioned for your weekly or monthly three-way reconciliation. Just when you think you finally have a handle on all the latest tech jargon, a new phrase is introduced toRead More

What Is Internal Control? Internal Audit Michigan Tech It helps make sure everyone is doing things the right way and helps avoid mistakes or breaking laws. In this blog, we’ll explain what an Internal Audit is, how it works, and why it’s important. We’ll cover its types, process, and benefits,Read More

Interim Statement Overview, Example, Role in Capital Markets The period to be covered in the interim reports is dependent on the discretion of management. An interim reporting is when the business produces a financial overview before completing the financial reporting cycle. These reporting periods are dependent on the discretion ofRead More

This journal entry will immediately increase the inventory balance on the balance sheet as a result of recording the purchases to the inventory directly. Petersen and Knapp allegedly participated in channel stuffing, which is the process of recognizing and recording revenue in a current period that actually will be legallyRead More

At the end of the day, the cost of QuickBooks Online depends on your business’s needs, and the cost of QuickBooks doesn’t stop at just $35/month for most businesses. Integrations are third-party add-ons that give you additional features and capabilities. QuickBooks Online has over 750 integrations to choose from, includingRead More

Charity Navigator believes in the power of volunteering. This is a great first step in becoming part of the philanthropic ecosystem. Using your skills to help a charity’s mission can make a big difference for its mission. You can find local nonprofits that are looking for volunteers here. Donating toRead More

Get your children involved by talking to them about the importance of giving. Giving unwanted toys to those less fortunate, smiling at someone on the street, holding doors open for people or visiting a sick relative is still charity because it warms someone’s heart. From strategic advice to grantmaking andRead More

At its core, Cash Return on Assets (CROA) is a financial ratio that measures the cash flow generated by a company’s assets relative to the total value of those assets. This ratio provides investors, analysts, and management teams with a clear view of how effectively the company’s assets are beingRead More

Depending on your jurisdiction, you may need to complete specific forms or maintain documentation to accurately calculate and report the salvage value after tax. Some tax jurisdictions may allow the carryforward of tax liabilities to future years, minimizing the immediate impact on salvage value after tax. The tax rate toRead More

At GBS Accounting & Tax CPA’s, we have a talent for working with small business owners. Whether you are a small business owner or part of a larger public or private organization, you’ll receive expert financial guidance on tax relief, local, state, and federal regulatory requirements. We’ll also help youRead More