Category Archives: Bookkeeping

A Letter From Independent Director Bob Pease to Phillips 66 Shareholders FinancialContent

Beyond transparency, the shareholders equity statement serves as a crucial tool for corporate communication. The shareholders equity statement acts as a bridge between the company and its shareholders, providing them vital information about the company’s financial health and operations. For shareholders, the equity statement provides insights into the company’s profitability, dividend payment practices, and overall…

Manufacturing Overhead: Definition, Formula and Examples

He has been a business reporter for the Columbus (Ga.) Ledger-Enquirer, a managing editor of the Atlanta Business Chronicle and an editor of the Jacksonville Business Journal. He also has written for management consultants, professional services firms and numerous publications as a freelancer. To achieve full GAAP compliance, a portion of overhead must be allocated…

Arun Mago CPA PLLC Financial & Taxation Firm Cedar Park, TX Sulekha

Arun Mago CPA PLLC DBA Mago Tax Services is a professional accounting and arun mago cpa pllc dba mago tax services finance institution located at 1464 East Whitestone Boulevard in Cedar Park, Texas, United States. Our team of experts is dedicated to providing top-notch financial services, including tax preparation, bookkeeping, and financial planning. With years…

Bookkeeping Basics for Therapists Bench Accounting

Make paying your quarterly taxes a priority during the year—you’ll avoid penalties, and have a better idea of your expected income for the year. In 2020, the federal government estimated that Medicare improper payments against healthcare providers came to $43 billion. If you want to avoid severe ramifications for your practice, be diligent and well-informed…

Closing Entries Explained: Definition, Examples, Practice & Video Lessons

In the above case, a net credit of ₹ 55,00,000 or profit will finally be moved to https://www.bookstime.com/articles/net-realizable-value the retained earnings account by debiting the Income summary account. The accounting assumption here is that any profit earned during the period needs to be retained for use in future company investments. Clear the balance of the…