If you need assistance in supporting workers’ compensation, retirement plans, and health insurance, ADP offers those services for a fee. It has various other benefits, including legal and an advice line, LifeCare. Finally, it can enroll employees in its program that offers discounts for everything from gym memberships to vacations. For an additional fee, ADP [...]

ContentAccounting 101 for Small BusinessesWhat Is a Balance Sheet?Example of Balance Sheet FormulasShareholder EquityVideo: What Is a Balance Sheet?Importance of Balance Sheets Each category consists of several smaller accounts that break down the specifics of a company's finances. These accounts vary widely by industry, and the same terms can have different implications depending on the [...]

In May, the AICPA Auditing Standards Board approved new quality management standards. CPA firms will need to shift their audit and quality assurance practices from a policies-based approach to a risk-based approach. With this impending change, financial institutions should revisit how they evaluate financial statement risks based on their source. You know you’re using the [...]

This entry reduces the amount of accounts receivable and recognizes the sales discount expense. Sales refer to the amount of goods sold that are already bought or manufactured by the business enterprise. When goods are sold for cash, they are cash sales but, if goods are sold and payment is not received at the time [...]