Bookkeeping

Insurance and annuity products are offered through Merrill Lynch Life Agency Inc. (“MLLA”), a licensed insurance agency and wholly-owned subsidiary of BofA Corp. By subscribing you agree to with our Privacy Policy and provide consent to receive updates from our […]

Once the growing pains of the startup phase are over, business owners often pivot toward growing their business. It’s important to note that historical data plays a significant role in predicting future inflows. For instance, businesses with a consistent revenue […]

Because the partnership can’t determine a partner’s level of bookkeeping and payroll services participation, the partnership must identify net income from property described earlier under Rental Activities (without regard to the partner’s level of participation) as income that may be […]

Following this formula, an investor can easily determine whether the financial position is moving upward or declining over a period. Trend analysis is used widely in financial statements, business forecasting, and stock market analysis to Retail Accounting make decisions considering […]

Project accounting methodologies are widely used by project-based businesses and organizations that manage multiple projects simultaneously. For example, imagine you’ve set up a folder with all the expenses for a project your team is completing in Q2. The model you […]

Real estate and mortgages make up a small fraction of a property/casualty company’s assets because they are relatively illiquid. Life insurance companies, whose liabilities are longer term commitments, have a greater portion of their investments in residential and commercial mortgages. […]

Learn how to calculate and account for notes receivable discounts, including present value and amortization methods. The business notifies customers about the financing arrangement and provides payment instructions to settle invoices with the provider. The business receives an advance on […]

One area where technology has significantly contributed to improving accuracy and efficiency is in reducing transposition transposition error errors in accounting. Transposition errors occur when digits or characters are mistakenly reversed while recording financial data, leading to incorrect calculations and […]

Abbreviating one million dollars is done using the above abbreviations. Generally, the abbreviation with two M’s is preferred in finance. As stated above, MM is generally used in business to represent millions since the letter M by itself has historically […]