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Records can show whether your business is improving, which items are selling, or what changes you need to make. Good records can increase the likelihood of business success. If you use the standard mileage rate for a car you lease, you must choose to use it for the entire lease period (including renewals). If you …

Record Retention for Businesses and Individuals: What You Need to Know Gordon Advisors Read More »

Therefore, considering the older, more expensive inventory was recognized, net income is lower under FIFO for the given period. Each of these three methodologies relies on a different method of calculating both the inventory of goods and the cost of goods sold. Depending on the situation, each of these systems may be appropriate. In addition, …

FIFO vs LIFO: Comparing Inventory Valuation Methods Read More »

An account holder cannot request stop payments on cashier’s checks because the money leaves the account holder when the check is issued, not when it is cashed. However, if you believe the check is lost or stolen, you can request a cancellation. This declaration then begins a 90-day waiting period, after which the bank may …

See What Happens When You Stop Payment on a Check Read More »

By adjusting our analysis for mergers and acquisitions (M&A), foreign-exchange effects, and inflation, the model enables like-for-like evaluation of real organic growth over the period. This surge effectively catapulted the CPG sector three years into the future — and jump-started the previously nascent efforts at direct-to-consumer (DTC) growth strategies. Many companies, however, were caught off-guard …

eCommerce Accounting Services & Compliance Management Read More »