Whether you’re an independent contractor, a business owner, or a common-law employee who has to report another form of income, the IRS Form 1099 is there to cover almost all bases. From freelancing income, stock dividends, and even abandoned properties and canceled debts, there are a lot of different forms for different incomes to declare. What are the Top 10 1099 Tax Write-Offs Everyone Should Know? Continue reading What are the Top 10 1099 Tax Write-Offs Everyone Should Know?
While many businesses have shifted their store from a physical one to online in hopes of grabbing a large audience’s attention, in any organization there exists a common set of core business processes that must exist for the organization to function properly. Small organizations start with a small set of five Core Business Processes, that are the critical business processes to every business, and then grow from there. Continue reading What Are the Top Ten Core Business Processes?
The two important terms “accounting” and “bookkeeping” are easily confused. What are they, how do they interrelate, and how do they interface with accounting methods, policies and procedures? What is the difference between bookkeeping and financial accounting?
Accountancy is a very appealing profession. It offers excellent prospects for respected positions, even at entry-level, and a clear career path to CFO responsibilities. Accountants work in every industry and across the globe as well as in Dubai, meaning there are exciting opportunities for all. Accounting credentials can be gained through a degree program or by completing the ACCA exams. What’s the best option: ACCA or an accounting degree? Continue reading What’s the Best Option: ACCA or an Accounting Degree?
The company’s Accounting Department Organization Chart provides the foundation for coordinating and administering your accounting management system. A description of the roles and responsibilities applicable to the accounting and operations staff are provided. Responsibilities specific to certain procedures or tasks are presented in the related procedures. What Is an accounting department organization chart? Continue reading What Is an Accounting Department Organization Chart?
The big question you must ask yourself as an accounting and bookkeeping business owner is why anyone will engage in your services when there are so many options out there? Well, they should opt for you because you offer excellent service and a great price. That’s perfect! But how do they even know that your services exist if your business isn’t using online marketing? How do you grow your accounting business? Continue reading How do you Grow Your Accounting Business?
The proper identification and acceptance of all sales are an important element of accounting internal control for a company’s income statement. It represents the primary source of most companies operational cash flow and therefore needs to be protected, managed and monitored using financial internal controls. The following Accounting Revenue Cycle Procedures should be utilized to account for and recognize all sales income of the company. What is the revenue cycle in accounting? Continue reading What is the Revenue Cycle in Accounting?