Accounting Overview, Principles, Examples, Importance, & Facts
General Journal is a book of original entry in which all transactions are recorded at the initial stages only. Accounting is by far one of the most important and prevalent fields in the world today. Its use in organizing business transactions and meeting regulatory requirements makes it a bookkeeping and payroll services field that requires […]
Cash Flow Statement: Explanation and Example Bench Accounting
When your cash flow statement shows a negative number at the bottom, that means you lost cash during the accounting period—you have negative cash flow. It’s important to remember that long-term, negative cash flow isn’t always a bad thing. For example, early stage businesses need to track their burn rate as they try to become […]
What Is Revenue Recognition? 5-step Model & Best Practices
You can classify a performance obligation as distinct if it’s useful to the consumer on its own. The customer takes possession of the equipment, and your performance obligation is complete. You could also sell a piece of equipment along with a limited warranty for future repairs. In this case, the customer can use the equipment […]
2019 HSA Changes: Make the Most of Health Savings Accounts The Motley Fool
The self-only out-of-pocket max has increased by $100 to $6,750, while the family out-of-pocket max has increased $200 to $13,500. This results in more plans with very high deductibles being included in the HDHP definition. The IRS announced their contribution limits, deductible and out-of-pocket information for 2019. Contributing the maximum allowed by law each year […]