There is plenty of room within GAAP for unscrupulous accountants to distort figures. So even when a company uses GAAP, you still need to scrutinize its financial statements. GAAP is…

Beginning with Meiji (1868–1912), each reign has been one era, but earlier Emperors sometimes decreed a new era upon any major event. In fact, many churches in Protestant countries considered…

As GOP legislators passed the biggest tax reform bill since 1986, Bookkeeping Chef can give you a complete view of your business’ total tax liability. This includes how the broader…

It’s meant to help you manage your cash flow so that you can run smoothly while achieving the goals you have set out for your organization. You can use cost-benefit…

Here’s how opportunity cost works in investing, plus the differences between opportunity cost, risk and sunk costs. The investment information provided in this table is for informational and general educational…

However, software programs can be time-consuming, which can pose a problem for small companies with few staff. Even if you use payroll software, don't assume that everything is running automatically…

Another important example of opportunity cost related to personal finance arises whenever you get a paycheck. Many people deposit their paycheck directly into a checking account, where it essentially sits stagnant.…

Net book value is calculated as the original cost of an asset, minus any accumulated depreciation, accumulated depletion, accumulated amortization, and accumulated impairment. Given these deductions, net book value represents an…

Investors and lenders want to see receivables turnover ratios similar or slightly higher than other businesses in your industry. Companies with efficient collection processes possess higher accounts receivable turnover ratios.…

Suppose your out-of-pocket maximum is $6,000, your deductible is $4,500, and your coinsurance is 40%. An out-of-pocket maximum is different from a plan's deductible. This may sound like common sense,…