You can see what we’re best at and who we work with, or just contact us to talk about particular needs of your business. For these reasons, it may be a good idea to partner up with a company with offices in your home country and at least several years of experience in business and […]

You must also include original documentation or certified copies from the issuing agency to prove identity and foreign status. Is it b) submitting a clarified auditing standards complete application to a certified acceptance agent? Is it c) attaching notarized copies of documents through the Form W-7 submitted to the IRS? You can apply for an […]

Bookkeeping services for doctors help to meet industry-specific accounting and compliance requirements. At RSCPA Firm, we specialize in providing comprehensive accounting services tailored to the healthcare industry. Our experienced team of accountants understands the unique challenges and opportunities you face as a healthcare professional in Brampton. Meru Accounting is a team of experienced accountants specialising […]

ROE measures the income level an insurance firm is generating as a percentage of shareholder’s equity or book value. An ROE of around 10% suggests a firm is covering its cost of capital and generating an ample return for shareholders. The higher the better, and a ratio in the mid-teens is ideal for a well-run […]

This is important to note before any other expense account because of the impact returns have on your income. Many companies strive to have a percentage limit to their returns based on sales. Let’s say the company doesn’t want more than 1% in returns, the income statement will help you determine if you have met […]

Journal entry for purchase returns or returns outwards is explained further in this article. The refunds and other allowances given by suppliers on merchandise originally purchased for resale are known as purchase returns and allowances. Firstly, there is a need to debit account payables and credit purchase returns. It can be seen that Debiting Payables […]

Detail of it could be found in the statement of change in equity and Noted to Financial Statements. Shareholders’ Equity, Owner’s Equity, or Stockholders’ Equity are called differently in the Balance Sheet because of the nature of the business. Prepaid is the amount that the entity pays to its suppliers in advance to secure, through, […]

GAAP compliance makes the financial reporting process transparent and standardizes assumptions, terminology, definitions, and methods. External parties can easily compare financial statements issued by GAAP-compliant entities and safely assume consistency, which allows for quick and accurate cross-company comparisons. When accounting principles allow a choice among multiple methods, a company should apply the same accounting method […]

However, the process can be challenging as they are built on different platforms. For detailed instructions, head to our tutorial on how to switch from Self-Employed to Online. The good news is that the QuickBooks Online plans are incredibly scalable, so you can start small and upgrade to a larger plan whenever you’re ready. The […]

This collateral acts as a security net, ensuring that, in case of default by the issuer, the debenture holders have a claim over the specified assets. These debentures come with a clear maturity date, post which they’re slated to be repaid. Companies are obligated to repay the principal amount to debenture holders on this maturity […]