by Ini Umoren PharmD. – Founder/President | Aug 7, 2025 | Bookkeeping
Goodwill is qualified as an intangible asset categorized under a real account. Thus, paying wages worth Rs 1,00,000 in cash means wages are an expense to the business. Now Golden Rules pertaining to two accounts would apply in such a case. The Golden Rule of Nominal...
by Ini Umoren PharmD. – Founder/President | Jul 23, 2025 | Bookkeeping
In summary, the type of loan, its terms, and the borrower’s creditworthiness all play pivotal roles in determining the interest expense. Borrowers must weigh these factors carefully to manage their financial obligations and maintain fiscal health. For more...
by Ini Umoren PharmD. – Founder/President | Aug 12, 2024 | Bookkeeping
A clear understanding of these concepts is essential for accurately calculating and applying overhead costs to products or services. The predetermined overhead rate is calculated by dividing the estimated manufacturing overhead by the estimated activity base (direct...
by Ini Umoren PharmD. – Founder/President | Feb 1, 2024 | Bookkeeping
Part-year residents and nonresidents must file if their total income exceeds the federal filing threshold and they have any income from Oregon sources. Oregon’s personal income tax is a primary source of state revenue, applied to income individuals earn or receive...
by Ini Umoren PharmD. – Founder/President | Oct 4, 2023 | Bookkeeping
Understanding the time it takes to recoup an investment is vital for financial decision-making. In this guide, we’ll walk you through the steps to calculate the Payback Period in Excel, providing valuable insights into the return...
by Ini Umoren PharmD. – Founder/President | Dec 23, 2022 | Bookkeeping
Learn how to calculate the average collection period, understand its significance, and explore factors that influence this key financial metric. Let’s say that Company ABC recorded a yearly accounts receivable balance of $25,000. A fast collection period may not...