Double Declining Balance Depreciation: Formula & Calculation
This accelerated approach better matches the real-world decline in an asset’s value, especially for items that lose their utility faster. This method is another form of accelerated depreciation but less aggressive than DDB. It’s based on a formula that depreciates more in the early years and less as time goes on, though not as steeply […]
What Is Scrap Value and Salvage Value Types of Value in Civil Engineering
The more commonly used approach is to simply estimate the salvage value to be zero. This is safer and more conservative in accounting practices so potential auditing issues don’t arise in the future. An asset’s salvage value is the estimated amount the fixed asset can be sold for once its useful life is finished. what […]
Creating a Nonprofit Operating Budget: 4 Best Practices
It should include some typical sources of revenue and expenses, which saves you time on listing everything out. If any of the sources don’t apply to you, you can just delete them—likewise, you can add anything that’s missing. About three to six months before the end of the fiscal year, an organization starts developing a […]
4 Types of Nonprofit Budgets and How to Create Them
Without a budget, running a nonprofit is like driving blindfolded – you might struggle to manage funds and meet goals, ultimately impacting your mission. A nonprofit operating budget helps you plan ahead and use your resources to serve your community. This financial roadmap is just one crucial aspect of running a nonprofit successfully. Once you […]
BUS103: Introduction to Financial Accounting Saylor Academy Saylor Academy
Everything you need to normal balance know about GASB 87 and how this lease accounting standard relates to ASC 842 and IFRS 16. Established in 1973, the Financial Accounting Standards Board (FASB) was originally created to step in the shoes of the Accounting Principles Board, which served the same purpose as FASB from 1959 to […]
The Normal Balance of Accounts Full Guide for 2025
Accounts that do not close at the end of the accounting year. The permanent accounts are all of the balance sheet accounts (asset accounts, liability accounts, owner’s equity accounts) except for the owner’s drawing account. Whenever cash is received, the asset account Cash is debited and another account will need to be credited. Since the […]
Financial Footnotes: Reading the Fine Print
The appearance of the notes may vary depending on the reporting framework followed by the company, such as IFRS standards or US GAAP. Additionally, publicly traded companies are subject to specific regulatory requirements, resulting in more extensive and detailed financial statement notes. This gives important background for people who look at the company’s money, like […]
How to Forecast a Cash Flow Statement: Guide for Financial Planning
An accurate forecast means predictable growth and increased shareholder confidence. Deliver faster, collaborate better, innovate more effectively — without the high prices and months-long implementation and extensive training required by other products. Use this free Cash Flow Statement Template for Excel to manage your projects better. Access and download collection of free Templates to help […]
Forecasting Cash Flow Step 4 in Building a Financial Model
The cash flow statement is included in a business plan to provide an overview of the expected cash inflows and cash outflows of the business. It can be quite confusing to understand the differences between all of the financial statements. One might think a cash projected cash flow statement flow statement and a profit and […]
Real Estate Bookkeeping Services Expert Accounting Support
Our team of skilled professionals is well-versed in real estate accounting practices and stays abreast with the latest regulations and software. Effective bookkeeping also plays a pivotal role in optimizing tax strategies for real estate ventures. A virtual real estate bookkeeper is capable of navigating the intricacies of tax laws and regulations, ensuring that a […]