19 Effective Accounting Tips For Business Success

Get into the habit of reviewing your accounting checklists regularly so nothing catches you by surprise later. If you receive paper checks and cash payments, deposit them weekly to keep your cash flow healthy and your records up to date. When reported to our outside payroll service, if we debit the Tip Liability account, how […]

Work in Process vs Work in Progress: What’s the Difference?

A company often uses internal allocation methods to determine the estimated financial value of work in progress. For example, the company must not only assess the financial value of incomplete goods but estimate what percent complete its products are. A piece of inventory becomes labeled as work-in-progress when raw material combines with 7 main types […]

Work in progress vs work in process

These projects have much longer timelines and may take years to complete a single instance. Consider an example of the build-out of a custom yacht; there is only one time, a set of diverse materials, and a longer timeframe needed for complete than simpler products. For some users in accounting and manufacturing, there is a […]

Break-Even Point Formula, Methods to Calculate, Importance

There is also a category of costs that falls in between, known as semi-variable costs (also known as semi-fixed costs or mixed costs). These are costs composed of a mixture of both fixed and variable components. Costs are fixed for a set level of production or consumption and become variable after this production level is […]

Kruze Consulting: Accounting, CFO, Tax & HR for Startups

AI startups face a different set of challenges from your typical SaaS company. That was the message from Rudina Seseri, founder and managing partner at Glasswing Ventures, last week at the TechCrunch Early Stage event in Boston. Overall, more than $450 million in venture funding this year alone has gone to companies in accounting-related categories […]

Working in Accounting for a Tech Startup

Pilot is not a public accounting firm and does not provide services that would require a license to practice public accountancy. Founder’s CPA has deep industry expertise on three industries in the startup space. This unique focus allows our teamto provide our clients with unparalleled support as their business scales. Get in touch with us […]

Going Concern, Going Bust The New York Times

They can help business review their internal risk management along with other internal controls. Also significant is the fact that if a business is determined to be a going concern that means that it can pay its liabilities and realize its assets. The company’s auditor is the employee who must determine whether or not the company […]

How You Define a Going Concern in Business

If a company is not a going concern, the company may be revalued at the request of investors, shareholders, or the board. This revaluation may be used to price the company for acquisition or to seek out a private investor. There are often certain accounting measures that must be taken to write down the value […]

What Is Quick Ratio? Importance, Formula, Example, and Pros

The quick ratio looks at only the most liquid assets that a company has available to service short-term debts and obligations. Liquid assets are those that can quickly and easily be converted into cash in order to pay those bills. The quick ratio is a formula and financial metric determining how well a company can […]

Bonds payable definition

Another alternative for raising cash is to borrow the money and to pay it back at a future date. Banks and other traditional lending sources are one option where the corporation may go to take out a loan for the full amount needed. However, during the last year of the bond’s life, ABC Co. must […]