Divide your career goals into short-term milestones and long-term goals. For example, a short-term milestone might be to acquire an in-demand skill like using accounting software, while a long-term goal might be to advance into a leadership position. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than […]
EBITDA: Definition, Calculation Formulas, History, and Criticisms
Being able to read an income statement is important, but knowing how to generate one is just as critical. However, real-world companies often operate on a global scale, have diversified business segments offering a mix of products and services, and frequently get involved in mergers, acquisitions, and strategic partnerships. Such a wide array of operations, […]
When is revenue recognized under accrual accounting?
For investors, it’s important to understand the impact of both methods when making investment decisions. Accrual accounting is encouraged by International Financial Reporting Standards(IFRS) and Generally Accepted Accounting Principles (GAAP). As a result, it has become the standard accounting practice for most companies except for very small businesses and individuals. To help you along, we’ll […]
Pro Forma Definition, Uses in Income Statements and LoI
In financial accounting, a pro forma earnings report excludes unusual or nonrecurring transactions. A full-year projection is just what the name suggests—accounting for the current year. For example, if it’s currently April and you want to perform a full-year pro forma projection, you would account why are sales a credit for all the financials up to […]
What medical records should I keep and for how long?
However, if you incur the expense in a country outside Australia, the document can be in the language of that country. If you incur the expense in Australia and your record how long do you need to keep business records is not in English, you need to translate them to English using an authorised translation […]
Forbes Worlds Billionaires List 2022: The Top 200
The founders of Google, Sergey Brin and Larry Page, became billionaires at age 30. Facebook founder Mark Zuckerberg, four years after starting the company, joined the list at 23 to become the youngest self-made billionaire. https://www.bookstime.com/blog/travel-agency-accounting Still, Forbes found more than 1,000 billionaires who are richer than they were a year ago. And 236 newcomers […]