Cash Flow Management Explained: The Lifeblood of Your Business
Cash flow management is a fundamental process that involves tracking, analyzing, and controlling the financial transactions occurring within your...
Insights: accounting
Accumulated Depreciation and Depreciation Expense: A Complete Guide
To put it simply, accumulated depreciation represents the overall amount of depreciation for a company's assets, while depreciation expense refers to...
Choosing Cash Basis or Accrual Accounting for Your Business
To help you choose between these concepts for your business, first understand their definitions and then consult your trusted CPA.
GAAP Accounting Principles Guide
Having a strong understanding of GAAP accounting is essential. GAAP encompasses a set of standards that govern the intricacies, complexities, and...
What Will the FASB's New Disclosure Rules Mean for Your Company?
The Financial Accounting Standards Board (“FASB” or “the Board”) is issuing Accounting Standard Update (“ASU”) 2023-09. The amendments in this ASU...
2023 Year-End Guide – Tax Accounting Methods
The tax accounting methods used by taxpayers play a crucial role in determining when income is recognized and costs are deducted for income tax...
7 Reasons Why You Should Choose a CPA
When hiring an individual or CPA firm to prepare a tax return, filers need to understand who they're choosing and what important questions to ask.A...
What is Deferred Revenue?
Deferred revenue is a financial concept that refers to money that has been received by a company, but has not yet been earned. It is a liability on a...
IRS Issues Standard Mileage Rates for 2023
The Internal Revenue Service issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating a car for business,...