Category: Bookkeeping

  • FIFO Definition What is the FIFO data retrieval method?

    In inventory management, the FIFO approach requires that you sell older stock or use older raw materials before selling or using newer goods and materials. This helps reduce the likelihood that you’ll be stuck with items that have spoiled or that you can’t sell. In inventory management, FIFO helps to reduce the risk of carrying…

  • Tax shield Financial Statement Analysis Vocab, Definition, Explanations Fiveable

    BEPS aims to close gaps in international tax rules that allow for profit shifting and tax avoidance. One of its key actions is to limit excessive interest deductions, which has led multinational corporations to reconsider their global debt allocation. Companies must now navigate a more complex regulatory landscape, balancing the need for tax efficiency with…

  • New York Income Tax Calculator NY Tax Rates 2024

    New York City’s income tax system is also progressive and rates range from 3.078% to 3.876%. No, but you may pay federal taxes on a portion of your Social Security benefits, depending on your income. And up to 85 percent of your benefits will be taxed by the federal government if your total income is…

  • Xero down? Current status and problems

    Easily notify your end-users of outages using a customizable status page. Display cloud services or websites, as well as any custom monitors you add manually. Create multiple status pages tailored to different needs, customize them, and embed them for maximum effectiveness. Submit your comments about Xero.com service status or report an issue below to let…

  • Net Realizable Value NRV: Definition & Calculation

    On the accounting ledger, an inventory impairment of $20.00 would then be recorded. Here are a couple of practical examples to illustrate how NRV is calculated and used. A company XYZ Inc. is trying to get rid of some of its outdated phones, and it expects to sell them for $5,000 to a local buyer,…

  • Balance Sheet: Explanation, Components, and Examples

    When a company is first formed, shareholders will typically put in cash. Cash (an asset) rises by $10M, and Share Capital (an equity account) rises by $10M, balancing out the balance sheet. This line item includes all of the company’s intangible fixed assets, which may or may not be identifiable. Identifiable intangible assets include patents, licenses,…