As mentioned above, a significant number of wineries cost their wine using the SPID method for management purposes, then convert to LIFO for financial reporting and tax purposes. Changes to tax code in 2017 now allow expensing for many winemaking costs and therefore creating greater disparity between U.S. GAAP and tax-basis financial recordkeeping, so it’s …

If your circumstances have improved – let’s say you got a new job or a raise – highlight that in your letter. It may improve the odds of your creditor agreeing that this specific incident was an anomaly. Additionally, companies can utilise comparative data from sales of similar businesses in the industry. Doing this allows …

Once you know it, measure your inventory turnover against industry benchmarks and look for opportunities to better position your business by managing your inventory more strategically. The two simple ways to calculate inventory turnover are by using the inventory turnover formula or an inventory turnover calculator. This value is measured at factory cost for the …

It may not be feasible to consider this when factoring in true liquidity, as this amount of capital may not be refundable and already committed. The current ratio may also be easier to calculate based on the format of the balance sheet presented. Less formal reports (i.e., not required by GAAP external reporting rules) may …

It may not be feasible to consider this when factoring in true liquidity, as this amount of capital may not be refundable and already committed. The current ratio may also be easier to calculate based on the format of the balance sheet presented. Less formal reports (i.e., not required by GAAP external reporting rules) may …

When offering CFO advisory for pharmacies, an accountant may help the pharmacy owner determine what form of accounting is right for them. Supplier portals, like McKesson’s PharmaClik, can be used to obtain key information like invoices and billing information that is necessary in the bookkeeping process. By integrating your dispensary with your front of shop …

I guess the idea of doing something other than dumping the raw data to the device was too complex. GAO’s mission is to provide Congress with fact-based, nonpartisan information that can help improve federal government performance and ensure accountability for the benefit of the American people. GAO launched its WatchBlog in January, 2014, as part …

In investment evaluation, the Accounting Rate of Return (ARR) and Internal Rate of Return (IRR) serve as important metrics, offering unique perspectives on a project’s profitability. ARR helps businesses decide which assets to invest in for long-term growth by comparing them with the return of the other assets. Like any other financial indicator, ARR has …

In investment evaluation, the Accounting Rate of Return (ARR) and Internal Rate of Return (IRR) serve as important metrics, offering unique perspectives on a project’s profitability. ARR helps businesses decide which assets to invest in for long-term growth by comparing them with the return of the other assets. Like any other financial indicator, ARR has …

A gift of equity is essentially a discount on the home’s sale price. When purchasing a property from your parents, they can pay some or all of your down payment by selling the house to you for that much less. Because down payments are one of the most significant barriers to home ownership. To do …