Equity Accounts on Your Financial Statements

If you’re a sole proprietor or a single-member LLC, you’ll see an “owner’s equity” or “member’s interest” account listed at the bottom of your balance sheet. This represents the cash or other assets that you have invested in the company. The value of this account is increased by capital contributions, like when you take money out of […]
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“What is Financial Reporting? Purpose, Types & Examples

The operating revenue for an auto manufacturer would be realized through the production and sale of autos. – Today, the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) took action against a rental screening subsidiary of the TransUnion conglomerate for violations of the Fair Credit Reporting Act. The TransUnion company failed to take steps […]
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Bookkeeping Services in California

It is not an unusual career move for a bookkeeper to gain experience at a job, study, get certified, and work as an accountant. Accountants and bookkeepers work with numbers and financial data all day long. There are critical differences in job growth and salaries between the two. Growth for accountants and auditors is expected […]
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Valuation Formula: 10 Most Used Calculations Quick Biz Valuation

The purpose for the valuation will determine the standard of value to apply. For example, in a marital dissolution case, some states use a fair market value standard, while others use fair value—a statutory standard that is not determined by the current market. A valuation for U.S. tax purposes, on the other hand, requires application […]
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Accounts Receivable Aging Analysis Financial Accounting

There are separate buckets for accounts that are current, those that are past due less than 30 days, 60 days, and so on. Based on the percentage of accounts that are more than 180 days old, a company can estimate the expected amount of unpaid accounts receivables for future write-offs. The accounts receivable aging reports […]
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