Anfisa is a talented accountant.
In this blog she talks about accounting services, payroll, investment consulting, tax training and much more.
AnfisaWDmitrieva@business-accounting.net
Phone: 303-647-3438
By effectively managing your inventory you can have the right products in the right quantity on hand and avoid products being out of stock and funds being tied up in excess stock. You can also ensure your products are sold in time to avoid spoilage or obsolescence, or spending too much money on stock that’s taking up space in a warehouse or stockroom. One way to track the performance of a business is the speed of its inventory turnover. When a business (more…) […]
If you acquire a passenger automobile in a trade-in, depreciate the carryover basis separately as if the trade-in did not occur. Depreciate the part of the new automobile’s basis that exceeds its carryover basis as if it were newly placed in service property. This excess basis is the additional cash paid for the new automobile in the trade-in. If you have a short tax year, you must reduce the maximum deduction amount by multiplying the maximum amount by a fraction. The numerator of the fr […]
Where materials or labor costs for a period fall short of or exceed the expected amount of standard costs, a variance is recorded. Such variances are then allocated among cost of goods sold and remaining inventory at the end of the period. Usually, the cost of foods sold will appear on the second line under the total revenue amount. Gross profit is typically listed below, since you calculate the gross profit by subtracting the cost (more…) […]
They are reported separately because this way users can better predict future cash flows – irregular items most likely will not recur. Revenue – Cash inflows or other enhancements of assets of an entity during a period from delivering or producing goods, rendering services, or other activities that constitute the entity’s ongoing major operations. It is usually presented as sales minus sales discounts, returns, and allowances. These include the net income realized from one-tim […]
Answers to common questions about e-filing an annual report are listed below. Using a balance sheet template will streamline the next step of the process, so that you don’t have to manually insert all of the fields yourself. This is a vital step towards understanding the core strength of a company, and to assess the business performance.
An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financia […]
A capital lease is a contract entitling a renter the temporary use of an asset and, in accounting terms, has asset ownership characteristics. Salvage value is the estimated book value of an asset after depreciation. It is an important component in the calculation of a depreciation schedule.
The original cost of the asset is known as its gross cost, while the original cost of the asset less the amount of accumulated depreciation and any impairment is known as its net cost or carrying amount. Da […]
A budget, also known as cash flow, is arguably more important than the actual cash that you have in your bank and investment accounts. A budget is a microeconomic concept that shows the trade-off made when one good is exchanged for another.
Cash budgets may cover a week or a month; sales and production budgets may cover a month, a quarter, or a year; and the general operating budget may cover a quarter or a year. The planning process that results in a formal budget provides an opportunity for […]
You’ll learn how to calculate NOPAT, and how the formula can be used to make better decisions from financial reporting insights. Return on invested capital is a way to assess a company’s efficiency at allocating the capital under its control to profitable investments. If, for example, a company has $100 of NOPAT but also has a $100 monthly interest payment, it looks unprofitable to an investor. In the US, fixed assets are often depreciated on a straight-line basis on the P&L bu […]
Understanding what employment records to store in a secure personnel file helps you avoid potential mistakes and fines. Later, we’ll provide a downloadable employee file folder checklist and personnel file checklist. Select a cross-section of employee personnel files to audit for compliance with workplace policies, and federal and state laws concerning record-keeping processes. Over 20 federal employment laws require some form of documentation and recordkeeping, and maintaining these reco […]
If you do end up with big shortages or overstock issues, address adjustments and valuations with your accountant to be sure they’re recorded correctly for tax purposes. Then, see if you can identify the problem—such as poor receiving practices, theft, or inaccurate purchases due to bad stock counts—and put the procedures covered here in place to prevent them in the future. Check each delivery against (more…) […]
