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
Applying the above definitions to the clients’ scenario uncovered the fact that the “inherent” risk being described was not a “no controls“ environment, but rather, one that only excluded some controls. Charles Hall is a practicing CPA and Certified Fraud Examiner. For the last thirty years, he has primarily audited governments, nonprofits, and small businesses. He is the author of The Little Book of Local Government Fraud Prevention and Preparation (more…) […]
Ideally, you’d prefer zero returns, allowances, and discounts, but this isn’t always possible. Therefore, you should monitor these figures to flag negative trends, so you can take immediate action. How can you calculate sales volume variance and what does it mean to your business? In this guide we explain what factors can impact sales volume variance and the formulae you need to measure it. If the gap between the gross sales and net sales is decreasing, that means the rate of (more& […]
The property is 5-year property with a fair market value of $10,000. Her business use of the property was 50% in 2019 and 90% in 2020. She paid rent of $3,600 for 2019, of which $3,240 is deductible. The $147 is the sum of Amount A and Amount B. Amount A is $147 ($10,000 × 70% × 2.1%), the product of the fair market value, the average business use for 2019 and 2020, and the applicable percentage for year 1 from Table A-19. You are considered regularly engaged in the business of lea […]
The accounts must balance and the balance sheets should show a difference of zero. Put simply, accounts payable and accounts receivable are two sides of the same coin. Whereas accounts payable represents money that your business owes to suppliers, accounts receivable represents money owed to your business by customers. In accrual accounting, when finance teams record all unpaid expenses, they act as placeholders for cash events. For instance, say our eyewear maker decides to initiate a new $1,0 […]
Have you ever been assigned to research the appropriate accounting for a given topic? You then research and read what seems like conflicting white papers and guidance published by various sources. Sometimes it helps to go back to the basics and read the codification yourself. This will allow you to provide a better framework for your decision. In addition, it makes for a compelling argument when discussing the solutions for how to handle the appropriate accounting. The Codification is the singl […]
This won’t lower your outstanding balance, but it will keep it from mushrooming as fast. Thanks to budgeting software, you don’t have to be good at math; you simply have to be able to follow instructions. If you know how to use spreadsheet software, you can make your own ledger. It’s as simple as creating one column for your income, another column for your expenses, and then keeping a running tab on the difference between the two. A budget, also known as cash flow, is arguably […]
For example, there are occasions when a company earns a significant, one-off amount of income from investment securities, a wholly owned subsidiary, or the sale of a large piece of equipment, property or land. 9250 OTHER NON-OPERATING EXPENSES. This cost center contains non-operating expenses not specifically required to be included in the above accounts. 9050 UNRESTRICTED INCOME FROM ENDOWMENT FUNDS. This account is credited with the unrestricted revenue and net realized (more…) […]
A double-entry bookkeeping system is a set of rules for recording financial information in a financial accounting system in which every transaction or event changes at least two different nominal ledger accounts. The origin of book-keeping is lost in obscurity, but recent research indicates that methods of keeping accounts have existed from the remotest times of human life in cities. Babylonian records written with styli on small slabs of clay have been found dating to 2600 BCE. The term “ […]
As an alternative to the Straight-Line approach, we can use an ‘Accelerated Depreciation’ method like the Sum of Year’s Digits (‘SYD’). In the section below, we cover two of the most common methods and their Cash Flow and Valuation impacts. By multiplying Depreciation Expense by the Income Tax Rate, you calculate the taxes saved (i.e. ‘Shielded’). The concept was originally added to the methodology proposed by Franco Modigliani and Merton Miller for the […]
Product Reviews Unbiased, expert reviews on the best software and banking products for your business. His insurance television career, short-lived but glorious, once saw him serve as the expert adviser on an insurance-themed infomercial .
So, the client is asked to pay the insurance premium amount for a specific time in the future. These companies and insurers prefer that their clients pay them the premium amount upfront and then continue getting benefits (more…) […]
