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The five main types of accounting include cost accounting, financial accounting, forensic accounting, management accounting and tax accounting

The last four lines of an income statement typically include: Operating Income – earnings before interest and taxes. Interest and Taxes – expenses deducted from operating income. Net Income – the company’s total profit. Earnings Per Share (EPS) – net income divided by outstanding shares.

Oregon does not have a general state sales tax. As of 2020, the new corporate activity tax also started providing additional funding for K-12 education. The personal income tax is the largest source of state tax revenue, expected to account for 82% of the state's General Fund for the 2023–25...

VRLT is an annual tax and is assessed on the previous year's occupation of the property. For example, VRLT in 2025 is based on a property's vacancy in 2024. It may apply to: residential land with an existing home on it that is vacant for more than 6 months in the calendar year preceding the tax...

The best AI accounting software depends on your needs, but popular options include QuickBooks Online, Xero, and FreshBooks. They use AI to automate tasks like invoicing, expense tracking, and financial reporting, saving time and reducing errors for small to medium businesses.

Semi-monthly means getting paid twice a month, usually on fixed dates like the 15th and last day. You receive 24 paychecks per year. Bi-weekly means getting paid every two weeks, resulting in 26 paychecks per year. This can lead to extra paychecks in some months.

One application of SAP software is enterprise resource planning (ERP) that is applied by companies to control functions such as finance, sales, supply chain, and human resource. It unifies various business processes into a single platform, which will make companies efficient, accurate and...

Employee Benefit Trust (EBT) refers to a legal series in which a business organization puts up assets or stocks in a trust panel to gain employees. It is commonly utilized in order to offer bonuses, ownership share, or other rewards. The trust is independently run in order to make sure that...

A ledger balance would be the balance in a bank account as of the close of the prior business day. It contains everything cleared both in terms of deposits and withdrawals except pending transactions. It is the balance that is officially accessible prior to new transactions take place on the...

Contra revenue refers to accounts or transactions that reduce a company's total revenue. These accounts are recorded as offsets against revenue to reflect situations where some portion of the revenue is either not earned or needs to be adjusted for certain reasons. Contra revenue accounts are...