The buyer must assume the risks and rewards of ownership, even if the seller retains possession. Additionally, the seller should have no further performance obligations related to the goods, aside from storage, to prevent premature revenue recognition. Shipments of product at the end of a reporting period that significantly reduce customer backlog and that reasonably

Depreciation is an accounting process of distributing the cost of an asset over its estimated useful life as per the matching concept. However, when such depreciation is accumulated in a separate account till the date of the concerned asset’s disposal or sale, it is called provision for depreciation. The balance sheet reports the assets, liabilities,

Financial institutions will send a 1099-INT form by January 31 if you earned more than $10 in interest. If you do not pay taxes on CDs, you may face a penalty by the IRS. They are more of a savings option instead of a long-term investment. If you open a variable-rate CD, the interest rate

When it comes time to renew, ADPIA can review your current coverage, help assess your business and employee needs, share industry insights, and provide you with access to the latest benefits coverage and cost options. ADP Workforce Now integrates with top benefit carriers, helping streamline the exchange of data for plan setup, enrollment and billing.

A professional writer for many years, Agata specializes in writing articles and blogs focused on finance as someone who holds a Master’s Degree in Accounting and Finance. With the Bloomberg Accounting Blog, accounting professionals also get an in-depth look at accounting technologies, studies, and research to help them make more informed decisions. The best part