Category: Bookkeeping

Select a conversion type and the desired units. This table provides a summary of the Length or Distance units within their respective measurement systems. All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. In Japanese typography, these square symbols are used for laying out unit […]

In other words, operating leverage is the measure of fixed costs and their impact on the EBIT of the firm. In the table above, sales revenue increased by 10% ($62,500 to $68,750). However, it resulted in a 25% increase in operating income ($10,000 to $12,500). It does this by measuring how sensitive a company is […]

When one of these statements is inaccurate, the financial implications are great. (Figure)Identify which of the following accounts would be listed on the company’s Post-Closing Trial Balance. (Figure)Identify which of the following accounts would not be listed on the company’s Post-Closing Trial Balance. How the Post-Closing Trial Balance Influences Business Valuation and Fiscal Health The […]

Typically, you will have one single depletion calculation on each pool, and you base the asset impairment tests on a ceiling test. One of the unique aspects of PSCs is the concept of “cost recovery.” The contractor is allowed to recoup its exploration and development expenditures from a portion of the produced oil or gas. […]

Although it’s possible to manually generate financial statements from your ledger or spreadsheet, it takes a ton of accounting knowledge and time to do it right. In most cases, it’s better to let your accounting software or a bookkeeper take care of this step for you. Remember, permanently restricted net assets are a valuable resource […]

In this case, ABC Corp’s assets exceed its liabilities by $4 million, indicating that the company is solvent and possesses a buffer against potential financial risks. Also known as the equity ratio, this measures the proportion of assets financed by shareholders’ equity. It provides an insight into the level of leverage in the firm’s capital […]

Taxpayers with an ITIN can complete the registration process to access their IRS online account, which provides balance due, payment history, payment plans, tax records, and more. Acceptance Agents are entities (colleges, financial institutions, accounting firms, etc.) who are authorized by the IRS to assist applicants in obtaining ITINs. They review the applicant’s documentation and forward […]

Bench assumes no liability for actions taken in reliance upon the information contained herein. When you’re ready to let your tax filing be handled by a pro, let Bench do your books and file your taxes. Beyond our year-round financial reporting support, you get access to our in-house tax advisory team. If your business is […]

Content How often should you calculate your predetermined overhead rate? Predetermined Overhead Rate Example How to predict overhead costs How to Determine Overhead Applied to Work in Progress Financial Controller: Overview, Qualification, Role, and Responsibilities Pre-determined overhead rate A predetermined overhead rate is mainly useful in the manufacturing industry to ascertain the company’s manufacturing overhead […]

Ultimately, the choice between recourse and non-recourse factoring depends on your business’s specific needs, risk tolerance, and customer base. Carefully assess these factors and consult with potential factoring companies to determine the best fit for your business. Remember, what is factoring of receivables to one business might be different for another, so it’s essential to […]