The second method is the “assumed par value” method and is a more complicated formula based on shares issued and the company’s gross assets. This second method often results in…

Long-term productive assets (also known as non-current assets or fixed assets) are purchased to be kept and used in business for a long period of time. They are capital assets…

The platform covers some parts of compliance for you, such as calculating and collecting the sales tax, but other essential parts of compliance are missing. The allure of the dropshipping…

Together, you can create a plan that helps you stay on the right side of tax laws. Collecting sales tax as a drop shipper can feel like an algebra problem,…

It can go by other names, such as earned surplus, but whatever you call it, understanding retained earnings is crucial to running a successful business. Factors influencing the decision include…

Management must also consider the likelihood, magnitude and timing of the potential effects of any adverse conditions and events. But going concern should be considered at all stages of the…

After adjustments, there is a need to prepare a trial balance again that ensures that all credits and debits are equal. Regardless of the scenario, an unadjusted trial balance displays…

Once the invoice has been presented, the amount of the sale is now owed to you. This is money that you’re due to receive, hence its placement in your general…

The most common application of correlation and regression is predictive analytics, which you can use to make day-to-day decisions. Before you even begin developing a product, you need a clear…

This statement details the inflow and outflow of cash within your business during a specific period. It categorizes cash flow from operating activities (sales and expenses), investing activities (purchase/sale of…