A bookkeeping service can help you stay organized and on top of your finances. Regardless of your situation, you need experts to monitor your finances and transactions. With the right bookkeeping specialists by your side, you’ll appreciate the efficiency and cost savings from optimizing your bookkeeping processes. The highest-ranking schools [...]

The accountant, or the CPA, can pass this as an annual journal entry in the books, with debit and credit to the defined chart of accounts. Since a license is an intangible asset, it needs to be amortized over the five years prior to its sell-off date. In general, to [...]

However, the higher net income means the company would have a higher tax liability. The average cost inventory valuation method uses an average cost for every inventory item when calculating COGS and ending inventory value. FIFO is a widely used method to account for the cost of inventory in your [...]