History of Accounting From Ancient Times to Today
From clay tokens to double-entry bookkeeping, accounting has adapted and thrived, shaping the world of finance as we know it today. Luca Pacioli’s contributions, in particular, have left an indelible mark on the profession, making him the revered “Father of Accounting.” Between the 4th and 3rd millennia BC, leaders in ancient Iran appointed individuals to […]
Pro Rata Explained What It Is & How to Calculate?
In this post, we’ll help you learn what pro-rata means and to calculate your pro-rata salary in a step-by-step manner. Pro rata calculations should be used consistently across all applicable financial situations. Doing so prevents discrepancies and ensures fairness in distributions such as salaries, insurance, and investment returns. Beyond dividends, pro rata also holds a […]
Accounting for Land: Valuation, Depreciation, and Financial Impact
It shows that although the land is vulnerable, its value cannot be periodically and equally reduced over time. Moreover, understanding this example, we can say that land does not have its own particular useful life. It was due to the earthquake in 2010 (which may have occurred in any other year later or earlier) that […]
Question 4P-A The following account balances w .. FREE SOLUTION
When a company generates net income, it is typically recorded as a credit to the retained earnings account, increasing the balance. In contrast, when a company suffers a net loss or pays dividends, the retained earnings account is debited, reducing the balance. If a company decides not to pay dividends, and instead keeps all of […]
How to Calculate Commissions in 9 Easy Steps
This is especially true for a complex commission plan with a math-intensive and code-heavy commission formula in excel that’s tough to run if you’re not a finance professional. A well-designed plan can drive motivation and performance while ensuring fair compensation. Below are eight common commission structures, along with commission formulas to calculate earnings. The commission […]
Solved: Which versions of turbo tax include schedule C?
If you plan to claim depreciation on your vehicle, you’re required to use Form 4562 to disclose your car details. This is used to report any returns or refunds you had to give during the year. Typically it’s used by people selling physical products, but any refunds can be put here. The other accounting methods […]
The Ultimate Guide to Excel Depreciation Formula
It dictates how the asset’s cost spreads over time, and adjustments to the useful life can significantly affect depreciation expenses. Therefore, the annual depreciation expense recognized on the income statement is $50k per year under the straight-line method of depreciation. If your company uses a piece of equipment, you should see more depreciation when you […]
How to Determine Cost of Goods Manufactured
Direct labor cost is computed by multiplying the total hours worked by http://kazus.ru/programs/viewdownloaddetails/kz_0/lid_15962.html the labor rate per hour, including any additional benefits or payroll taxes. The total cost of those three expenses, or the cost of manufacturing, is $40 million. The cost of manufactured items is then used to calculate the cost of sold goods. […]
13 Best Accounts Payable Software Solutions in 2025
Microsoft Dynamics 365 ERP is a SAP ERP alternative that automates accounts payable to a limited extent. Modernize with Corpay and transform your accounts payable into an efficient, secure, and value-adding operation. If you decide we’re the right fit, we’ll take care of set-up so the platform is configured to your specifications (we’ll also show […]
What is Depreciation and How to Calculate Its Tax Shield Effect in Your Capital Budgeting Analysis
The original cost of the equipment would be depreciated at 33.3% on the straight-line method. Similar to the tax shield offered in compensation for medical expenses, charitable giving can also lower a taxpayer’s obligations. In order to qualify, the taxpayer must use itemized deductions on their tax return. The deductible amount may be as high […]
