The other important thing to remember about accounting ratios is that they differ between industries. Profitability ratios are used to sift through revenue figures and calculate the company’s actual profits. Taken together over a period of time, the ratios provide … Continued
If they’re a new business, you’ll want to ensure that they get going on the right foot. And you’ll want to have a central location where you log agreed-upon rates for clients (if there’s any variation). If you require a … Continued
If you’re selling your consulting services through an accounting firm or management firm, you may not have to look very far for consulting clients. If you’re putting up a new independent contractor shingle, you will need to market and sell … Continued
The right time to manage all your business finances is from the start of this journey. A crucial factor in the constant growth of small businesses around the globe is a well-planned and implemented accounting strategy. As a business owner, … Continued
Corporation tax is something all UK limited companies have to pay on any profit they generate that’s not ring-fenced. To meet their obligations, companies must complete a corporation tax return every year and pay the amount due within nine months … Continued
While at first glance a low average collection period may indicate higher efficiency, it could also indicate a too strict credit policy. To calculate your total net credit sales, take your total sales made on credit for a given period … Continued
Consequentially, it may result in slower growth and potentially missed market opportunities. So, when a company’s average collection period is lengthy, it means its accounts receivable aren’t being converted into cash quickly. In other words, its current assets are reducing, … Continued
If this happens, you’ll need to resubmit all your materials – along with your most recently completed U.S. federal tax return. The standard processing time is still seven weeks, although the IRS points out that delays can last up to … Continued
You will need to complete Form SS-5, Application for a Social Security CardPDF. You also must submit evidence of your identity, age, and U.S. citizenship or lawful alien status. For more information please see the Social Security Administration website. If … Continued
Debt is a liability, whether it is a long-term loan or a bill that is due to be paid. The major and often largest value assets of most companies are that company’s machinery, buildings, and property. Accounts receivable list the amounts … Continued