Category Bookkeeping

Calculating the annual depreciation expense under DDB involves a few steps. First, determine the asset’s initial cost, its estimated salvage value at the end of its useful life, and its useful life span. Then, calculate the straight-line depreciation rate…

The DDB depreciation method is best applied to assets that lose value quickly in the first few years of ownership, such as cars and other vehicles. However, it may also apply to business assets like computers, mobile devices and other…

In general, a positive NPV will correspond with a profitability index that is greater than one. A negative NPV will correspond with a profitability index that is below one. It is important to note that the profitability index should not…

It ensures that capital is committed to the best investment option for maximum profit when considering multiple choices. You can use a profitability index template or table like the one below to plug in your values. A PI template helps…

Finally, a supporting organization can’t be controlled directly or indirectly by one or more disqualified persons (as defined in section 4946), other than foundation managers and other than one or more public charities described in section 509(a)(1) or (2). For…

The organization’s records should be kept as long as they can be needed for the administration of any provision of the Internal Revenue Code. Usually, records that support an item of income, deduction, or credit must be kept a minimum…

Generally, a bookkeeper’s formal education will be less than a four-year college degree. Accountants generally have a 120 or 150 credit college degree including at least 30 credits of accounting courses plus 30 credits of other business courses. The BLS…

This is essentially a part of accounting, and an accountant or a bookkeeper can manage it, depending on the company’s needs. A part-time bookkeeper can handle basic services for individuals or small businesses. If you have a large business or…