The average collection period is the average number of days it takes for a credit sale to be collected. While a shorter average collection period is often better, too strict of credit terms may scare customers away. Companies may also compare the average collection period with the credit terms extended to customers. For example, an […]
Archivos de Categoría: Bookkeeping
To apply for an ITIN, fill out the application, which you can find on the IRS website. You can mail in the application, or bring it to an IRS-approved acceptance agent or an IRS taxpayer assistance center, located in cities across the United States. You’ll need to include proof of identity and foreign status; a […]
However, provided your outsourced bookkeeping partner embraces cloud-based accounting software, you’ll have access to your books 24/7. In doing that, your outsourced accounting firm will work closely with you to develop an approach that works for your business. They’ll track KPIs that are important to you, provide regular financial reporting, and be responsive to your […]
More discussion on variable lease payments can be found in lessee accounting. The lessor recognises finance income over the lease term using the effective interest rate (IFRS 16.75). The underlying asset is derecognised and any resulting difference is immediately recognised in P/L as a gain or loss on the disposal of an asset. However, manufacturer […]