For the past 52 years, Harold Averkamp (CPA, MBA) has worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. Free Resource LibraryAccess our extensive collection of valuable resources for instant support in your personal and professional growth. Printing and stationery expense is an administrative expense for the vast majority…

Meanwhile, New York City also levies its own income taxes, which means residents of the Big Apple pay some of the nation’s highest local rates. New York offers credits and deductions that can reduce tax liability, but eligibility depends on income type, filing status, and financial circumstances. One significant credit is the Other States Tax…

From smartphones to tablets and laptops, the way people engage with brands has evolved dramatically. What are Signs Something is Sponsored Content What are Signs Something is Sponsored Content? In today’s digital landscape, navigating the world of content can feel like wandering through a maze. Search Intent Retargeting In the fast-paced digital landscape, capturing a…

These categories are also referred to as accrual-type adjusting entries or simply accruals. Accrual-type adjusting entries are needed because some transactions had occurred but the company had not entered them into the accounts as of the end of the accounting period. In order for a company’s financial statements to include these transactions, accrual-type adjusting entries…

Tracking a broader spectrum of costs that a company knows they’ll eventually have to pay leads to a more comprehensive and accurate reflection of a company’s financial standing. They represent costs incurred but not yet paid, which are typically positive amounts. Effective cash flow management requires a nuanced understanding of accrued expenses. Analyze how accrued…