The formula for net book value is the cost of the asset minus accumulated depreciation. The figure for accumulated depreciation can be located on a company’s balance sheet below the line for related capitalized assets. Straight-line depreciation is the most straightforward and commonly used method. It divides the asset’s depreciable base (cost minus salvage value)  Read More

A corporation continues to exist even if ownership or management changes. This perpetual existence ensures continuity in operations and ownership through the transfer of stock. While incorporating relieves you of personal liability, it also opens up the door contribution margin to financial and legal restrictions. In the unincorporated business world, bankruptcy, massive debt, and legal  Read More

Consider hiring a bookkeeper to manage daily financial transactions and closely monitor operational budgets. Typically, a bookkeeper is needed from the very start of your business or when the volume of bookkeeping tasks exceeds your capacity to manage them effectively. If you’re searching for accounting software that’s user-friendly, full of smart features, and scales with  Read More

For businesses where hours and dollars are interlinked, tracking billable hours becomes very important. While you can use manual methods to track and calculate billable hours, they can be inaccurate and unreliable. Professionals can’t bill their employers or clients for all the time you spend on the project, but tracking non-billable hours is as important  Read More