Category: Bookkeeping

The payback period and accounting rate of return (ARR) are two common methods of evaluating capital investment projects that ignore the time value of money. In capital budgeting, some of the methods that take into account the time value of money when evaluating projects are the net present value and the internal rate of return.… Continue reading Capital Project Management

The journal entry debits Cash for $15,000 and Accumulated Depreciation for $40,000. The second step is to debit the Accumulated Depreciation account for the entire balance related to the specific asset being sold. The book value is What’s The Corporate Tax Rate Federal and State Rates determined by subtracting the total accumulated depreciation, including the… Continue reading Journal Entry for Sale and Purchase of Assets

The shareholders, however, as the legal owners of the business, have the power to overturn it by a simple majority vote. If you are your own bookkeeper or accountant, always double-check these figures with a financial advisor. We highly recommend you confer with your Miller Kaplan advisor to understand your specific situation and how this… Continue reading Statement Retained Earnings: Essential Guide for Financial Success

These non-taxable benefits can enhance your financial planning and overall compensation package. It’s imperative to understand that not all fringe benefits are created equal when it comes to taxation. With these types of fringe benefits, you not only receive additional compensation but also gain support for various aspects of your life outside of work. These… Continue reading Fringe Benefit Considerations for Small Businesses