So variance is affected by outliers, and an extreme outlier can have a huge effect on variance (due to the squared differences involved in the calculation of variance). The variance…

On January 1, 2022, the timber had a fair market value (FMV) of $350 per MBF. On your 2022 tax return, you elect to treat the cutting of the timber…

Once the company becomes aware that the customer will be unable to pay any of the $10,000, the change needs to be reflected in the financial statements. The amount of…

Under the law, corporations possess many of the same rights and responsibilities as individuals. They can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets,…

One of the essential tools for any Shopify business is accounting software. Accounting software is a computer program that manages a company’s financial processes and transactions, such as invoicing, bookkeeping,…

For instance, if an investor acquires a stock at $50 per share and its value increases to $70 per share, an unrealized gain of $20 per share is evident. As…

If the videocassette has a useful life of 1 year or less, you can currently deduct the cost as a business expense. You can amortize certain intangibles created on or…