Understanding International Accounting Standards IAS
More information about the scope and detail of these requirements will be provided by the Chartered and Global IIA and in future articles in Audit & Risk. Domain 4, “Managing the Internal Audit Function”, also turns actions that were previously good practice into requirements for...
The Principles of SaaS Accounting
Using specific business metrics tools for SaaS is a must when running your SaaS accounting. A complete outsourced accounting solution for recurring revenue companies with integrated metrics, financial projections, and accounting tech stacks. One of the most significant tax considerations for SaaS businesses is sales...
Understanding Accounting Methods
File Form 3115, Application for Change in Accounting Method, to receive approval for the change. Form 3115 allows you to formally request a change in your accounting method. Tax accountants overseeing returns in the United States rely on guidance from the Internal Revenue Service. Federal...
Tax expense Wikipedia
Reconciling book and tax figures bridges the gap between accounting and tax perspectives. Accounting profits follow financial reporting standards like GAAP or IFRS, while tax profits adhere to specific tax laws. These differing frameworks often create discrepancies that must be reconciled for accurate tax reporting....
The HR Professionals Guide to Determining Promotional Increases
Even consistently high performers can have rough periods which might negatively impact a recent performance review. Therefore, identifying true top performers requires gathering data from multiple sources. That’s why tangible rewards are a surefire way to retain top talent and increase employee morale. How to know...
The HR Professionals Guide to Determining Promotional Increases
Even consistently high performers can have rough periods which might negatively impact a recent performance review. Therefore, identifying true top performers requires gathering data from multiple sources. That’s why tangible rewards are a surefire way to retain top talent and increase employee morale. How to know...
Gross sales vs net sales: Key differences and why they matter for your business
If net sales give you more insight into your company's financials, why do you need to keep track of your gross sales? It’s an important metric to understand, because it can give you an overview of how your business is doing. It’s also helpful for...
Calculate Net Realizable Value: NRV Explained with Formula and Example
It’s vital to capture a realistic figure that is neither too optimistic nor too pessimistic, aligning with the conservatism principle in accounting, which prefers understated assets and revenues over the overstatement. This figure is closely tied to the net realizable value method, however, the disadvantages...
Outsourced Accounting & Bookkeeping Services Guide
We are impressed with Ignite Spot and our representative's progressivism, who offers superb customer service, knowledge, guidance, dependability, and trust in the services delivered. Bookkeepers charge $19-$24 per hour for their services, averaging $22 per hour. At Ignite Spot, our bookkeeping services are part of our convenient monthly...