Bookkeeping

It does, however, impose a variety of sales and property taxes and some are pretty significant. Many Florida counties have a discretionary sales surtax (county tax) that applies to most transactions subject to the sales or use tax. The county surtax rate applies to a taxable item or service delivered […]

The slight difference between the cost of sales and COGS is that it also includes the costs of services provided, making it more relevant to service-oriented businesses. A consultancy, for instance, would have the cost of sales that might consist of the salary of consultants and direct expenses to provide […]

Board Designated FundsA condition placed by an organization’s board of directors on how an amount of money is to be used. For accounting purposes, these funds are considered unrestricted because the condition was not specified by a donor. The point of this statement is to help determine whether or not […]

A truck owner usually takes home less than 50% of the entire business profit, with the rest going toward reinvesting in labor, food costs, marketing, utilities, and ongoing fees. Food truck owners in the US earn between $24,000 and $153,000 per year, depending on the size, location, and popularity of […]

This decrease was partially offset by favorable foreign currency fluctuations and an increase in tooling sales in preparation for manufacturing line startups and transitions. Contrast this with capital expenditures, which are depreciated over their useful lives. In this instance, the depreciation expense is effectively smoothed over time versus being expensed […]