Category Archives: Bookkeeping

A guide to outsourced accounting: All you need to know

Content What is outsourced accounting? Accounting Is Just The Start REAL-TIME INFORMATION Are you looking for an accountant for your business? Types of Jobs Within the Accounting Field Hiring accountants with the required skill sets and experiences can be challenging, especially for startups. It’s essential to hire the right team as they are in charge […]

Double Declining Balance Depreciation Calculator

Our goal is to deliver the most understandable and comprehensive explanations of financial topics using simple writing complemented by helpful graphics and animation videos. Finance Strategists is a leading financial literacy non-profit organization priding itself on providing accurate and reliable financial information to millions of readers each year. Residual value is considered only in the […]

Specific Identification Inventory Valuation Method Definition

Content Grow your retail business Methods Used to Estimate Inventory Cost Operational Management Financial and Managerial Accounting What type of business would use a specific identification method? Informs inventory forecasting LIFO companies frequently augment their reports with supplemental data about what inventory cost would be if FIFO were used instead. This does not mean that […]

FICA Definition Federal Insurance Contributions Act

Content Understanding FICA What is Pay-As-You-Go Workers’ Compensation Insurance? Talk to a Social Security Attorney §3112. Instrumentalities of the United States How To Calculate FICA The employee is not covered by the State workers’ compensation law, but is covered by a local government ordinance that requires the local government to pay the employee’s full salary […]