11Jun 2021
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What Are Plant Assets? The Motley Fool

Cost includes all normal, reasonable, and necessary expenditures to obtain the asset and get it ready for use. Acquisition cost also includes the repair and reconditioning costs for used or damaged assets as longs as the item was not damaged after purchase. Unnecessary costs (such as traffic tickets or fines or repairs that occurred after purchase) that must be paid as a result of hauling machinery to a new plant are not part of the acquisition cost of the asset. Plant assets, also known as fixed assets, are any asset directly involved in revenue generation with a useful life...

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03Jun 2021
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Indianapolis Business Accounting & Bookkeeping Services

Taking the time to listen and review your financial situation is a step in the process we refuse to skip. We take providing financial guidance very seriously because our recommendations affect your livelihood. It is so important to us that we provide advice that we feel confident will be in your best interest and help you the most in the long run. Small businesses and startups can benefit from professional accounting help. Often, these companies haven’t worked with an accountant in the past, and we want to make the transition from DIY accounting to professional accounting simple. It’s crucial...

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03Mar 2021
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CPE Professional Development and Continuing Professional Education CPE for CPAs AICPA

If you’re only focusing on expenses and not big-picture financial data, you’ll miss out on some strategic opportunities. Accounting is for trained professionals who can give a fuller summary of your company’s financial realities. Accountants rely on financial statements from bookkeepers to do their work, but they also look for larger trends and the way money works across the business. Bookkeeping is the daily financial tracking of all of your daily financial transactions. Bench also includes visual reports, a mobile app, automated statement imports, customer support, a dedicated login for your CPA, and tax-ready financial statements. What’s more, Fundera...

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01Feb 2021
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Consolidation- Definition, Origin, Examples, and How It Relates to Accounting

This presumption and foundational principle were established in 1959, and while the basic principles endure, today’s consolidation analysis has evolved dramatically since then. Sweeping changes in 2003 introduced the variable interest entity consolidation model, and 2007 brought highly anticipated guidance on accounting for noncontrolling interests. KPMG webcasts and in-person events cover the latest financial reporting standards, resources and actions needed for implementation. If the parent company has been using a common paymaster system to pay all employees throughout the company, ensure that the proper allocation of payroll expenses has been made to all subsidiaries. For example, a company that...

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09Dec 2020
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The Best Guide to Bookkeeping for Nonprofits: How to Succeed Foundation Group®

Once you’ve got a bookkeeping system in place, you need to start creating financial statements. Looking at these documents can tell you how much money you have, where your money is, and how it got there. The entry should contain information such as the donor’s name, the amount of money, and the date. If you want to become a bookkeeper for a nonprofit, try looking at internships that could help you learn more about the processes. You may want to visit the National Council of Nonprofits to learn more. FreshBooks is a high-quality accounting program that can automate repetitive...

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