Bookkeeping Online: Virtual Services for Your Finances

Bookkeepers will usually prepare relevant records and tax documents, and then forward this information to an accountant, who will then prepare the actual tax return. While there are certain scenarios where it makes sense to start bookkeeping business have a dedicated...

Quick Ratio Explained: a Key Financial Metric

For every $1 of current liability, the company has $1.19 of quick assets to pay for it. The quick ratio tells you how easily a company can meet its short-term financial obligations. A higher ratio indicates a more liquid company while a lower ratio could be a sign...

LIFO Reserve What Is It, Formula, Journal Entry, Examples

This increase in gross profits will occur because of the lower inventory carrying amounts of the liquidated units. The lower inventory carrying amounts are used for the cost of sales while the sales are reported at current prices. The gross profit on these units is...