Bookkeeping

To calculate the depreciation expense, you subtract the asset’s salvage value from its initial cost and divide it by its useful life. The depreciation expense is […]

Want to explore how HubiFi can help streamline this process for your business? You can also learn more about our integrations with popular accounting software. Industries […]

The preceding list of period costs should make it clear that most of the administrative costs of a business can be considered period costs. The cost […]

Owner withdrawals from businesses that are taxed as separate entities must be accounted for generally as either investment fund accounting compensation or dividends. Drawings, also known […]

Common reasons for conducting an EIN lookup include verifying a business’s legitimacy and understanding its tax obligations. This helps prevent fraud and ensures compliance with tax […]

Balance sheet and income statement accounts are a mix of debits and credits. This transaction ensures that the total debits equal the total credits, maintaining the […]

Although these seven internal controls may not be used in all types of businesses, they’re an example of the types of internal control systems that can […]

Total Shareholder’s Equity – Total shareholder’s equity, also known as a company’s net worth. Shareholder’s equity is typically the amount of business that its shareholders own. […]

This lets you work in the comfort of Microsoft Excel with the support of a much more sophisticated but intuitive data management system. On a separate […]