Content Special Considerations When Filing Form 941 Where to Send Form 941? IRS Form 941 – Definition, Purpose, and Due Dates Submit Form 941 to the IRS and pay any remaining balance How to – Guide for Filing Form 941 for 2023 Do I need to submit Form 941? Form 941 – Employer’s Quarterly Federal...Read More

Content Capital/finance lease vs. operating lease accounting treatment Lease Accounting How Does Equipment Leasing Work? How the Capitalized Lease Method Works Advantages of Capital Lease What is an operating lease? A quick definition of capital lease: Operating lease accounting changed in 2016 when the Federal Accounting Standards Board released ASC Topic 842, Leases. The new...Read More

Content LEGAL & POLICIES Why is encumbrance accounting needed? Related to Encumbrance accounting What is an example of an encumbrance? Examples of Encumbrance accounting in a sentence What is encumbrance accounting? When tracking your transactions and expenses, it is crucial to reflect your cash flow on your general ledger accurately. Vital analysis, reports, and audits...Read More

The gross income of a company is calculated as gross revenue minus the cost of goods sold . If a company registered $500,000 in product sales and the cost to produce those products was $100,000, then its gross income would be $400,000. Young people with a minimal financial history often find it difficult to get...Read More