Bookkeeping

Content Financial statements for nonprofits Fund Accounting for Nonprofits & Charities Taxes for nonprofits Fund Accounting & Nonprofit Financial Statements About Propel Nonprofits In this example, net assets of $100,000 obviously does not represent cash you can spend. Let’s change our make-believe nonprofit to be a little more realistic. In QBO, you can divide your …

Solved: QB generated an unrestricted net asset journal entry after I entered other entries I now have a negative fund balance in balance sheet equity section. Is this ok? Read More »

However, in the AICPA BEC practice exam, the last testlet contains 2 written communications. Each test is roughly 2 hours long and focuses on specific areas of the test. Each test is made up of 5 testlets with 10 multiple choice questions and 6 task based simulations each. Despite not being the same length as …

CPA Practice Exam 2023 CPA Exam Questions Read More »

Content The Extended Equation What is the Purpose of Revenue Reporting? Recognized Revenue Vs Deferred Revenue Subscribe: Rankings to Revenue Newsletter Products and Services What Does Total Revenue Tell You About Your Business? On September 15th, the satisfied customer makes a payment for the completed project. Let’s assume that on December 3 the company gets …

Revenue in Accounting Definition & Examples Video & Lesson Transcript Read More »

Content What Is the Social Security Tax? Tax Policy Claiming work expenses: First, choose a deduction Qualified Nonresident Sales Amounts Expended to Improve Consumers’ Efficiency of Energy Continuing education and certifications A simplified home office deduction claims $5 per square foot up to a maximum of 300 square feet, for a $1,500 deduction. In fact, …

Credits & Deductions for Individuals Internal Revenue Service Read More »

Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. In this post, we explain the importance of ADA, how to calculate it, where to record it, and more. Recovering an account may involve working with the debtor directly, working with a collection agency, or pursuing …

Allowance for doubtful accounts definition Read More »

Content Business Class How to automate the accounting cycle using accounting software? Step 4: Unadjusted Trial Balance Record transactions in a journal. That being said, accrual accounting offers a more accurate picture of the financial state of any given business, which is why in some cases, companies are obligated by law to use this method. …

Accounting Cycle Definition & 8 Steps in Accounting Cycle with Diagram Read More »