Recent content by karen

Account takeover fraud occurs when one hacks into your online accounts, and you can avoid this by having a excellent password, enabling two-factor authentication, and by being wary of suspicious links or messages. Monitoring your account activity is also a way of identifying trouble early.

The percentage, often computed as (Basic Salary + DA, where applicable) / 26 x number of days of unused leave, is normally used to compute leave encashment but the exact formula and elements may depend on the company policy and local labour regulations.

A workpaper is a formal document used in audit, in which the auditors document the procedures that they conducted, the evidence that they collected and the conclusion that they made. It simply demonstrates the way in which the audit opinion was made.

For U.S. federal income taxes, by the year 2025 the deadline is April 15, 2025. In case it is a weekend or legal holiday on April 15, the due date is postponed to the following working day.

The first one is to visit your local city or municipality web page to find out what documents you need to get a business license, you can do that online or in person with minimum documents (ID, address, business information) and with the necessary fee. It is readily accepted in most locations...

Bankruptcy fraud is a situation where an individual deceives or conceals significant financial information in the process of bankruptcy such as lying about assets, filing more than one case, or forging documents to evade repayment of debts, and it is a grave problem since it compromises the...

The amount of tax you are required to pay, obliged by Social Security, that funds retirement, disability, and survivor benefits is known as OASDI tax and the rate is usually equal to all, unless you reach the annual cap on the amount of earnings you can be taxed on. Most workers are required to...

The balance sheet is prepared by taking all your assets on one side of your sheet and all your liabilities on the other side of your sheet and calculating the equity as = Assets -Liabilities, if they the same on both sides, then your sheet is balanced.

Physical thing on which a business has ownership that is physically present, such as equipment, buildings or inventory has a measurable value. In a nutshell, it is whatever you can feel, which assists in running the business.

Accounting is found to be boring to others due to its routine and figures, yet it is an interesting discipline when you observe the way the business makes intelligent decisions using its accounting techniques. Only boring when one is looking at the jobs, but not at the effect.

Goldbacks are also cool as a collectible, as an item of barter and novelty, but they cost more and do not give good returns in the long run as compared to plain bullion. Good to purchase as a pleasure, not as a serious developmental step.

Per diem pay is a daily allowance that employers pay you to live, eat, or travel when you are out of home working and it is generally not taxable provided that you are using the IRS sanctioned rates and maintain adequate records.

An office job with a salary may be more beneficial in the long term as the number of hours really remains the same, as you receive fixed income, paid leave and benefits. Simply ensure that there is no ulterior motive of overtime work, in the case of a 9 am to 5 pm position with mileage...

Tax accounting is concerned with preparation and management of taxes as per the government regulations that help business to remain in compliance, claim deductions and present accurate returns. It is contrasted with financial accounting in the sense that it puts more emphasis on tax legislation...

Payroll number is a special code that is given to all employees to make it easier to employees to track their pay, tax, and HR. It generally remains the same during employment and only facilitates better payroll processing and more accurately.