Bookkeeping

Income statements are designed to be read top to bottom, so let’s go through each line, starting from the top. For the past 52 years, Harold Averkamp (CPA, MBA) hasworked as an accounting [...]

Small businesses typically start producing income statements when a bank or investor wants to review the financial performance of their business to see how profitable they are. Next, if the [...]

Rhode Island requires employers to pay out the value of an employee’s unused earned vacation time upon employment separation, provided that the employee has worked for them for at least one year. [...]

Some states specify what ratio is acceptable, while others simply allow a “reasonable” cap. For example, a cap that is twice the annual accrual would likely be considered reasonable. [...]

Since your asset turnover ratio is typically only measured once per year, you’ll have to understand that large purchases, even if they were made months ago, can easily skew your current [...]