With 1099 contractors, you have less control and less responsibility. Choosing the right classification is crucial, not just for compliance, but also for building a team that aligns with your business needs. It’s not just about filling a role; it’s about understanding the relationship you’re creating. Deciding whether to hire a W-2 employee or a […]

If the book value per share is significantly lower than the industry average, it may indicate that the company is not performing as well as its peers. Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert […]

Manufacturing overhead is then applied to the jobs as the work is completed throughout the year. In a normal costing system, the predetermined overhead rate is applied to the jobs based on the job’s actual use of the allocation base or cost driver used to calculate the predetermined rate. Job order costing is a costing […]

With the cash basis method, amounts for Accounts Payable, Assessments Receivable, and Prepaid Assessments don’t show up on the association’s Balance Sheet. The board may choose to prepare Accounts Payable, Prepaid Assessments, and Assessments Receivable reports. However, the accuracy of the reports cannot be verified easily by comparing the totals to the amounts reported on […]

Shayne R. Neuwirth PLLC is an accounting firm that provides accounting, tax, and consulting services to individuals and businesses in the Scottsdale area. Her team performs individual tax preparation, business tax returns, sales tax preparation, limited liability company formation, and accounting and bookkeeping services. Founded in 2011, the firm provides clients with customized services based […]

Startup carriers and MGAs in particular, having a clean slate,  have an special opportunity to get it right…but still fail to get accounting and reporting piece optimally stood up. What then follows is completely reactionary – a stakeholder requests a report, and the system cannot generate that report. The report gets sent, but its not […]

DMR feeds our employees’ passion by supporting a culture of service and innovation that benefits them as much as it does you. We provide value to our clients through an open and direct dialogue. We are committed to our clients’ success through comprehensive advice and collaborative decision-making. Personalized, Quality Service that is Beyond Compare With […]

Weech Financial, PLLC is an experienced financial services firm located in Mesa, Arizona that is managed by a licensed CPA. The company prides itself on providing solutions and strategies that produce tax savings and efficiencies. The company offers accounting services, tax preparation, business accounting, and business consulting. Mark Weech, the owner of Weech Financial, PLLC, […]

A record in the general ledger that is used to collect and store similar information. For example, a company will have a Cash account in which every transaction involving cash is recorded. A company selling merchandise on credit will record these sales in a Sales account and in an Accounts Receivable account. If a company […]

So, in the above example, you can record the transaction as soon as the order is confirmed without waiting for the payment. When your business runs successfully and reaches market saturation, you can sell your products on e-commerce platforms other than Etsy. However, it means more complex accounting, which might require hiring an experienced accountant. […]