Enrolled Agents Internal Revenue Service
Enrolled Agents work for tax preparation firms, or as self-employed business owners. Enrolled Agents are federally recognized and can serve any client in any state. They focus solely on taxes,…
5 Criteria for Revenue Recognition Lutz Accounting Nebraska
ASC 606 details the revenue recognition principle for contracts with customers. In order to recognize revenue properly, any business that receives payment upfront for services to be rendered must recognize…
4 6 Cash and Share Dividends Accounting Business and Society
Some companies issue shares of stock as a dividend rather than cash or property. This often occurs when the company has insufficient cash but wants to keep its investors happy.…
What is materiality in accounting information?
ISA 320, paragraph 12 requires that materiality be revised as the audit progresses, if (and only if) information is revealed that, if known at the onset of the audit, would…
Financial statements of nonprofits
Don’t use your personal bank account to receive, hold or disburse money for your nonprofit. Make sure all of your nonprofit’s transactions go through a dedicated bank account. Ask your…
Bonds Payable A guide to understanding bonds to be repaid
The amount of discount amortized for the last payment is equal to the balance in the discount on bonds payable account. As with the straight‐line method of amortization, at the…