Categoria: Bookkeeping

And, because we come to know your business well, our ability to anticipate. We’ll give you accounting, payroll, reports, and CFO services you and your team need to have an in-depth understanding of the financial performance of your construction business. All Silver...

To do so, you’ll need a W-7 form, which is used to apply for an ITIN with the IRS. Check out this guide for an overview of this form and learn how to use a W-7 to apply for your ITIN. To...

For example, for a furniture manufacturer, timber, paddings, and textile are the direct materials used in production, while glue or sandpaper are indirect materials. Overheads directly impact a business’ balance sheet and income statement so it’s important to track and allocate these expenses....

The difference of $500 in the cash discount would be added to the owner’s equity. As a result of the transaction, an asset in the form of merchandise increases, leading to an increase in the total assets. If an accounting equation does...

Net realizable value (NRV) in accounting is the estimated selling price of an asset in the ordinary course of business, minus any costs to complete and sell the asset. NRV provides a conservative estimate of retained earnings an asset’s value, ensuring financial...

Net realizable value is a critical concept in accounting, used to ensure that the value of assets on financial statements is not overstated. Here, we explore the application of NRV in different accounting contexts, including inventory valuation, accounts receivable, and cost accounting....