Author: yanz@123457

Therefore, the final tax expense for each year reported in the Statement of Profit or Loss would be as in Table 3. It can therefore be said that accounting for deferred tax is ensuring that the matching principle is applied. The tax expense reported in each period is the tax consequences (ie tax charges less… Continue reading FASB simplifies presentation of deferred income taxes

Second, Blackbaud Financial Edge NXT can help churches manage their donor relationships. The software has a donor management feature that allows churches to track donors, process gifts, and manage fundraising activities. This can help churches to better understand their donors, identify trends in giving, and build stronger relationships with their donors. The one-time fee option… Continue reading Church Accounting Software

It’s true that many large companies outsource portions of their operations, although accounting is typically one of the areas that tends to be handled by internal teams. But the fact that public companies are embracing outsourcing shouldn’t dissuade you from exploring outsourcing elements of your own business. Among all these day-to-day activities, it can be… Continue reading Finance and accounting outsourcing Services

Creating the credit memo creates a debit to a bad debt expense account and a credit to the accounts receivable account. This is a distortion that reflects on the revenue financial reports for the accounting period of the original invoice as well as the period of the write off. To keep the revenue of both… Continue reading Write-Offs: Understanding Different Types To Save on Taxes