Amortization Schedule: Amortization Schedule: Planning with the Effective Interest Method In short, the effective interest method can be more accurate when accounting for long-term contractual obligations. Note that, in this formula, “i” is the bond’s coupon rate, and “n” is the number of coupon payments to be made per year. For lenders or investors, the […]

You can also use alternative sources of capital, such as retained earnings, asset sales, leasing, crowdfunding, etc. Once you have implemented your capital maintenance strategy, you need to track and assess your results regularly. You need to use relevant and reliable indicators and metrics to measure your capital maintenance performance. For example, you may use […]

Annualized rate: how it is calculated and where it is used The following month, 1% interest is assessed on this amount, and the interest payment is $101, slightly higher than it was the previous month. If you carry that balance for the year, your effective interest rate becomes 12.68%. Compound interest is calculated on the […]

Fraud and the role of auditors what more can be done to detect fraud risk? Furthermore, the auditor should also consider their responsibility to report the suspicion to a party outside the entity. Professional skepticism in this regard becomes highly integral for the auditor, without which it will be increasingly challenging to point out any […]

Solved: Remove old bills and journal entry from a closed period Maintaining thorough documentation how to write off accounts payable from a previous year is essential when removing accounts payable, supporting both accounting adjustments and tax reporting. Businesses should retain clear evidence of the reason for debt removal. For vendor forgiveness, this includes written agreements, […]

Apply today for Business Internet Banking HSBC UK And if you’d like to have an overdraft with your new bank account, speak to your new bank or building society before starting your switch. The Current Account Switch Service makes switching to HSBC easy. All you need to do to get started is open a Business […]

To fix this issue, the bookkeeper should review the general ledger and make sure that all prior account balances are accurate. It is a temporary account used by accounting software to balance initial opening balance equity meaning entries when setting up a company’s books. Once setup is complete, the balance should be reviewed and reclassified […]

The use of legal e-billing software solutions has only improved relations between clients and law firms. A conventional billing system in a typical law firm involves manual preparation and in-person sharing of paper invoices with the clients. Whereas electronic billing or e-billing is the process of automating the legal cash flow billing to create, review, […]

Online QuickBook Certification Understanding QuickBooks at this level means you can get the most out of the software and use it to its full extent. How To Become Quickbooks Certified To Be An Accounting Whiz This knowledge can help you stay competitive in the job market and may improve your chances of receiving a raise […]

Subject to Change: Meaning and Proper Usage These regulatory bodies oversee insurance practices and investigate complaints. Policyholders may need to provide detailed evidence and a written explanation of their grievance. The department may mediate or take administrative action against the insurer for non-compliance. If you discover your pay has been changed without notice, the first […]