Anfisa is a talented accountant.
In this blog she talks about accounting services, payroll, investment consulting, tax training and much more.
AnfisaWDmitrieva@www.business-accounting.net
Phone: 303-647-3438
If the buyer is looking for a substantial credit line, make sure you review their financials, especially a statement of cash flow. If they are operating in a negative cash position you need to be sure that they will have enough cash available to pay you. Limit their credit line or at the very least change their terms if it looks that they may have a cash flow problem. The credit application form is issued by a supplier or lender with the intent of standardizing (more…) […]
If you have a business – either a sole proprietorship or partnership – you should seriously consider setting it up within an LLC. It will provide you with similar legal protections to a corporation, but enable you to run your company as a small business. Your LLC registered agent will accept legal documents and tax notices on your LLC’s behalf. You will list your registered agent when you file your LLC’s Articles of Organization. LLCs are popular because business owners can avoid th […]
The company can receive or pay interests depending whether it owns or owes the money. Interests are fixed and dividends are variable except when preference shares are involved. A simple interest is determined based on the original amount while the compound interest is calculated on the accumulated interest hence called the interest on the interest.
When interest expense occurs and is paid, the corporation’s cash is reduced by the interest payment, but some cash (more…) […]
Assets are ordered in terms of liquidity or how long it would take to change into cash. A company’s balance sheet is one of the most important financial statements it will produce—typically on a quarterly or even monthly basis . Since it is just a snapshot in time, it can only use the difference between this point and another single point in time in the past. The line items towards the top of the assets section are the most liquid, meaning those assets can be converted to cash the fastest […]
In this example, the cost of the machine on 1 January 2001 is $110,000, but the cost on 31 December 2001 is $99,000 (i.e., 110,000 – 11,000 for depreciation). Prepaid expenses, inventories of various kinds, properties, and other assets are examples of costs. The amount of cash paid or liability incurred for a commodity or service is referred to as the cost of that item. Cost is a balance sheet item and expenses are an income statement item. Assume that a company purchases a delivery truck to be […]
Evidence obtained directly by the auditor is more reliable than evidence obtained indirectly. Clearly, materiality plays a large role; however, how to measure what information is true and fair or misstated is crucially important. Rights and Obligations — the transactions and disclosures pertain to the entity. Completeness — all balances that should have been recorded have been recorded. Classification — the transactions have been recorded in the appropriate caption. Best Of We’ve tested, […]
An acknowledgement of ownership, receipts are proof of a financial transaction. The IRS requires small businesses to hold onto some receipts to document tax deductible expenses. Dividends consist of company earnings, or profit, which a business pays to its shareholders as a reward for their investment in its equity. Companies may distribute dividends as cash or additional shares of stock. Such decisions include whether to buy blue-chip stocks or loan money (more…) […]
It is accounted for when companies record the loss in value of their fixed assets through depreciation. Physical assets, such as machines, equipment, or vehicles, degrade over time and reduce in value incrementally. Unlike other expenses, depreciation expenses are listed on income statements as a “non-cash” charge, indicating that no money was transferred when expenses were incurred. There are many different terms and financial concepts incorporated into income statements. Two of th […]
Very small businesses may choose a simple bookkeeping system that records each financial transaction in much the same manner as a checkbook. Businesses that have more complex financial transactions usually choose to use the double-entry accounting process. Financial literacy is important and sharp accounting skills are crucial if you want to succeed in business. From tax planning to making the right decisions based on accurate financial information, solid accounting knowledge is key. The way yo […]
Expert freight shipping tips and fast, easy tools to help you ship freight. Understanding the differences between each is as simple as knowing how much responsibility the buyer and supplier assume under each agreement. An FOB shipping point agreement is signed and the container is handed off to the freight carrier at the shipping point. Cost and freight obligates a seller to arrange sea transportation and provide the buyer the needed documents (more…) […]
