by Travitt Hamilton | Feb 13, 2024 | Bookkeeping
However, the distributor allows a trade discount from the catalog price based on each customer’s volume. However, a reseller will be given a trade discount of 20% from the catalog price, and will be charged $80. Lastly, a registered high-volume wholesaler will be...
by Travitt Hamilton | Jan 18, 2024 | Bookkeeping
A lawyer will aid in deciphering the law to reduce the risk of misclassification. “The penchant for employers who want to make a person an independent contractor is so they don’t have to pay payroll taxes. They don’t have to make Social Security or Medicare...
by Travitt Hamilton | Mar 24, 2023 | Bookkeeping
The accounting rate of return (ARR) is a simple formula that allows investors and managers to determine the profitability of an asset or project. Because of its ease of use and determination of profitability, it is a handy tool to compare the profitability of various...
by Travitt Hamilton | Mar 1, 2023 | Bookkeeping
They’re awarded enrolled agent (EA) status after completing all requirements. To become a Certified Public Accountant (CPA), you need to complete educational requirements, work in the accounting field, and pass the CPA Exam. On the contrary, accountants only...
by Travitt Hamilton | Jan 18, 2023 | Bookkeeping
The present value calculation considers the annuity’s discount rate, affecting its current worth. It’s important to note that the discount rate used in the present value calculation is not the same as the interest rate that may be applied to the payments in the...
by Travitt Hamilton | May 3, 2021 | Bookkeeping
Together, these make financial data reliable and trustworthy—music to users’ ears. The International Accounting Standards Board (IASB) defines two fundamental qualities[1]. This method shows cash transactions as they happen, but not the lasting impact. It limits the...
