In the world of accounting, there’s a fundamental rule that guides how companies record their sales or services as earned revenue: revenue recognition. This principle serves as the bedrock for accurately portraying a company’s financial health and performance. Let’s look into what it is and why it’s so crucial for businesses. What is Revenue Recognition?
Author Archives: Whittaker
14
Feb
Feb
The Importance of Accounts Receivable Accounts receivable (AR) represents the money owed to a business by its customers for products or services rendered on credit. It’s a fundamental component of working capital and can significantly impact a company’s cash flow and financial health. The Cash Conundrum Despite its significance, accounts receivable often harbors hidden cash
07
Feb
Feb
Introduction: In the dynamic landscape of manufacturing, businesses often find themselves investing in state-of-the-art equipment to stay competitive. While these technological advancements boost efficiency, navigating the depreciation of manufacturing equipment is crucial for sound financial management. In this blog post, we will delve into the types of equipment manufacturing businesses typically purchase, the duration of
31
Jan
Jan
What is Outsourced Accounting? Outsourced accounting is just what it sounds like. Its accounting made simple. Outsourced accounting can be anything from bookkeeping to a Virtual CFO. One of the many benefits is you don’t need to pay a 12 month salary plus benefits. No bonus at the end of the year. You don’t have
Advisory|Financial Reporting|Strategic Guidance
Invoicing: How to Increase Cash Flow with Better Invoicing
24
Jan
Jan
As a business owner you want to be paid on time, because who doesn’t? One of the best way to not only keep your accounting up to date, as well as put money in the bank is timely payments. While this is ideal, it isn’t always the case. Sometimes payments are late or seemingly impossible
17
Jan
Jan
In the dynamic world of manufacturing, success isn’t just about producing quality goods, it is also about navigating the complex tax landscape. For California-based manufacturers, understanding and leveraging available tax incentives and credits can significantly impact the bottom line. As the heartbeat of innovation and industry, the California offers a range of opportunities for businesses
10
Jan
Jan
When the lottery is at the highs it has been recently, everyone is buying a ticket in the hope that they might be the one to win the millions if not billions of dollars. Around these times a very common question is asked is, “how are lottery winning taxed in California.” Although many California residents
05
Jan
Jan
As the new year rolls in, so does another tax season. For businesses, staying informed about each tax filing deadline and important dates is crucial to ensure compliance and avoid penalties. Whether you’re a seasoned entrepreneur or just starting out, understanding the tax calendar can help you plan and prepare effectively. In this guide, we’ll
Advisory|Strategic Guidance|Value Building
Navigating the New Year: Setting and Tracking Business Goals with KPIs
03
Jan
Jan
As we step into a new year, it’s a perfect time for businesses to chart their course towards success. This period of corporate planning is crucial, offering a fresh start and a chance to set ambitious yet achievable goals. Key Performance Indicators (KPIs) play a vital role in this process, serving as the compass that
20
Dec
Dec
Introduction: Investing is a powerful tool for wealth creation, but it’s crucial for investors to be aware of the tax implications associated with different investment types. Whether you’re a seasoned investor or just getting started, understanding how your investments may be taxed can significantly impact your overall financial strategy. Continue reading to explore the