by Trev Wall | Sep 18, 2023 | Bookkeeping
For instance, the study showed that the hotel/gaming sector had an average net profit margin of -28.56% while banks in the money center had an average net profit margin of 32.61%. Operation-intensive businesses like transportation that may have to deal with...
by Trev Wall | Jun 20, 2023 | Bookkeeping
For example, the patient relations center at a large hospital would be considered a cost center, since its purpose is to maintain good relationships with patients. While this is an important task that can indirectly increase revenue by keeping patients happy, the...
by Trev Wall | May 11, 2023 | Bookkeeping
This bonus “expensing” should not be confused with expensing under Code Section 179 which has entirely separate rules, see above. Taxpayers use Form 4562 to report their depreciation expenses. IRS Publication 946 lays out the complicated rules for applying...
by Trev Wall | May 10, 2023 | Bookkeeping
At worse, it can lead to an audit and expensive tax trouble in the future. You also want something that can be picked up by anybody and understood. You don’t want a tax official, VC, bank, or anyone else confused by your work. After assessing what debit and credit...
by Trev Wall | May 5, 2023 | Bookkeeping
Both figures can be found in the publicly disclosed financial statements for public companies, though this information may not be readily available for private companies. Imagine if Exxon borrowed an additional $20 billion in long-term debt, boosting the current...
by Trev Wall | May 4, 2023 | Bookkeeping
Another great thing about NetSuite ERP is that it comes with great reporting features. For starters, users can easily customize their view of key performance indicators and generate reports that are specific to their role in the company. They can also track vendor...
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