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Cash Basis Accounting vs. Accrual Basis Accounting

Cash basis accounting and accrual basis accounting are two methods used by businesses to record financial transactions.
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Cash Basis Accounting vs. Accrual Basis Accounting

Cash basis accounting and accrual basis accounting are two methods used by businesses to record fina...
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Your Quick Guide to Business Structures

Once you get your business up and running, you’ll quickly discover a world of legal matters you have...
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Business Valuations: A Quick Guide

As a small business owner, you’re in a unique position. Your most valuable asset isn’t likely to be ...
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What is Fair Market Value and How Do You Calculate It?

A significant part of running a business is knowing the dollar amount your company owns in assets — ...
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How to Calculate Retained Earnings + Examples

Your business might not be profitable in its formative years, leaving you with no option but to push...
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Your Simple Guide to Debits and Credits + Examples

Most people know that debit cards let you spend out of a checking account, while credit cards let yo...
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Advantages of Using an Accounting Software

Still using a shoebox and notebook approach to accounting? Accounting software provides a way for yo...
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How to Calculate Straight Line Depreciation (Formula)

From buildings to machines, equipment and tools, every business will have one or more fixed assets l...
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What is IRS Form 1040?

As a business owner or employee in the United States, calculating, deducting, and paying tax is a ma...
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Owner’s Equity: What it is and How to Calculate it

Owner’s equity is the value you arrive at when your business’ liabilities are deducted from your bus...
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What is a Journal Entry in Accounting?

A journal entry is the first stage of the accounting process. Its purpose is to record a business tr...
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What is a W-9 Form and Why You Need To Fill It Out

Form W 9 is an IRS form used by businesses to request independent contractors and freelance workers ...
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What Is Cost of Goods Sold (COGS), Formula, Example and How to Calculate

Monitoring your Cost Of Goods Sold or COGS can help improve your profitability. It’s also a tax-dedu...
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