Accounting Tools

JULY 14, 2024

What are Pro Forma Financial Statements? Pro forma financial statements are financial reports issued by an entity, using assumptions or hypothetical conditions about events that may have occurred in the past or which may occur in the future. These statements are used to present a view of corporate results to outsiders, perhaps as part of an investment or lending proposal.

Financial Statements 98

Financial Statements Financial Reporting Budgeting Accounting 98

Outsourced Bookeeping

JULY 14, 2024

Do you find it difficult to handle the numerous financial demands of your construction company? Construction companies require proper financial management to succeed and expand in the industry. Due to the complexity of project accounting, hiring professional staff with specific knowledge is necessary. In this article, we will be discussing the importance of outsourcing construction accounting services to help in the financial growth of your company.

Outsourced Bookkeeping 59

Outsourced Bookkeeping Bookkeeping Services Accounting Accounting 59

Accounting Tools

JULY 14, 2024

What is Equity Capital? Equity capital is funds paid into a business by investors in exchange for common stock or preferred stock. This represents the core funding of a business, to which debt funding may be added. Once invested, these funds are at risk, since investors will not be repaid in the event of a corporate liquidation until the claims of all other creditors have first been settled.

Corporate Finance 75

Corporate Finance Accounting Accounting 75

Nanonets

JULY 14, 2024

IInvoice management software is transforming financial processes for businesses in 2024. If you're looking to streamline your invoicing, you're making a smart move that could save your company time and money. Many businesses face challenges with invoice processing —from data entry errors to delayed payments. These issues can impact cash flow and overall efficiency.

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Invoicing AP Invoice Processing Data Entry 52

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

Invoicing

Accounting Tools

JULY 14, 2024

How to Allocate Costs Various cost allocation methods are used to allocate factory overhead costs to units of production. Allocations are performed in order to create financial statements that are in compliance with the applicable accounting framework. The most common allocation methods are noted below, along with commentary about their advantages and disadvantages: Allocate based on direct labor.

Financial Statements 75

Financial Statements Cost Accounting Accounting Accounting 75

Insightful Accountant

JULY 14, 2024

Accountants and ProAdvisors can now determine which of their clients' QuickBooks subscriptions should be billed to their client vs themselves on a client-by-client and product-by-product basis.

Billing 52

Billing QuickBooks Accounting Accounting 52

IMA's Count Me

JULY 14, 2024

Get ready for an engaging conversation with Adam Larson and special guest Pooja Sund , Engineering Finance Leader at Microsoft, on this episode of Count Me In! Pooja, a finance and AI expert, breaks down the fascinating differences between AI and traditional programming, shedding light on how AI is revolutionizing the financial industry. From risk management and fraud reduction to personalization and sentiment analysis, discover how AI can be a game-changer for your business.

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Accounting Tools

JULY 14, 2024

What is an Ordinary Annuity? An ordinary annuity is a series of payments made at the end of each period in a series of payments. It has the following characteristics: All payments are in the same amount (such as a series of payments of $1,000). All payments are made at the same intervals of time (such as once a month or quarter, over a period of a year).

Financial Analysis 75

Financial Analysis 75

Accounting Tools

JULY 14, 2024

What is a Direct Expense? Direct expense is an expense incurred that varies directly with changes in the volume of a cost object. A cost object is any item for which you are measuring expenses, such as products, product lines , services, sales regions, employees , and customers. Here are several examples of direct expenses: The materials used to construct a product for sale The cost of the freight needed to transport goods to and from a manufacturing facility The labor incurred to produce hours

Payroll 52

Payroll Cost Accounting Tax Accounting 52

Accounting Tools

JULY 14, 2024

What is a Deferred Credit? A deferred credit is cash received that is not initially reported as income, because it has not yet been earned. In most cases, a deferred credit is caused by the receipt of a customer advance. This is a situation where a customer pays the seller before the seller has provided it with an offsetting amount of services or merchandise.

Bookkeeping 52

Bookkeeping Auditing Accounting Accounting 52

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

Accounting Tools

JULY 14, 2024

What are Income Statement Accounts? Income statement accounts are those accounts in the general ledger that are used in a firm’s profit and loss statement. These accounts are usually positioned in the general ledger after the accounts used to compile the balance sheet. A larger organization may have hundreds or even thousands of income statement accounts, in order to track the revenues and expenses associated with its various product lines , departments , and divisions.

General Ledger 52

General Ledger Accounting Accounting Payroll 52

Accounting Tools

JULY 14, 2024

What is a Relevant Cost? A relevant cost is a cost that only relates to a specific management decision, and which will change in the future as a result of that decision. The relevant cost concept is extremely useful for eliminating extraneous information from a particular decision-making process. Also, by eliminating irrelevant costs from a decision, management is prevented from focusing on information that might otherwise incorrectly affect its decision.

Financial Analysis 40

Financial Analysis Financial Statements Cost Accounting Financial Accounting 40

Accounting Tools

JULY 14, 2024

What is the Aging of Accounts? Aging of accounts is the practice of itemizing certain types of transactions into time buckets, to show how far in the past they were initiated. A time bucket is a period of time, such as 30 days. A common set of time buckets used for aging is as follows: 0-30 days old (considered current) 31-60 days old (considered slightly overdue) 60-90 days old (decidedly stale) 90+ days old (very old, action required) These time buckets can be altered in many accounting softwa

Accounting 40

Accounting Accounting Accounts Payable Accounts Payable 40

Accounting Tools

JULY 14, 2024

What is Ultimate Revenue? Ultimate revenue is the estimated total revenue to be obtained from the exploitation and exhibition of a film in all markets. Ultimate revenue is used in the amortization of film costs, where the amortization calculation is to divide current period actual revenue by the estimated remaining unrecognized ultimate revenue as of the beginning of the current fiscal year.

Accounting 40

Accounting Accounting 40

Advertiser: Paycor

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

Payroll

Accounting Tools

JULY 14, 2024

What is the Adjusted Balance Method? The adjusted balance method calculates the finance charges associated with a credit card account after all adjustments have been made to the account at month-end. The method is used in the same way for savings accounts, except that interest income is calculated after all adjustments have been made. In essence, the finance company or bank waits until the end of the billing period, aggregates all adjustments made to the account during the period, and then calcu

Billing 40

Billing Accounting Accounting 40

Accounting Tools

JULY 14, 2024

What is a Financial Statement Compilation? A financial statement compilation is a service to assist the management of a business in presenting its financial statements. This presentation involves no activities to obtain any assurance that there are no material modifications needed for the financial statements to be in conformity with the applicable accounting framework (such as GAAP or IFRS ).

Financial Statements 40

Financial Statements Auditing Financial Reporting Accounting 40