Blog
Efficiency Ratios #2
In this blog, I will be discussing efficiency ratios. Efficiency ratios are used internally to check if the company is utilizing their assets and liabilities efficiently in earning revenues. Efficiency ratios are mainly used to assess how well assets and liabilities...
Financial Ratios #1 (3-part series)
Financial data by itself may not give the complete picture about a company's performance and financial wellbeing. It is difficult to evaluate standalone numbers without comparing them to certain norms and standards. Ratios provide a set of standardized parameters...
8(a) Revenue
Why participation in the 8(a) program may be right for your business… The government has many programs to help socially and economically disadvantaged business owners. One specific area, is called the 8(a) Business Development Program(8(a) Program). The...
Where Does My QuickBooks Data Go?
Where Does My QuickBooks Data Go? Do you really know how your QuickBooks data entry processes affect your financial information and reports? QuickBooks transactions are not static images. The correct set up of the customer names, service items, and payroll items...
IRS Final Regs on Expensing Property
Final changes which will be effective January 1, 2014, have been made to the IRS’ temporary 2011 de minis expensing (cap policy). Now is the time to begin reading up on how these changes will affect your company (here on called taxpayer). Here are some changes...
DCAA Compliance Checklist
This is the typical process that federal contractors adhere to in order to become and remain DCAA compliant. 1. Complete the Pre-award Survey of Prospective Contractor Accounting System Checklist. a. This survey is a checklist of the DCAA requirements of contractor’s...
Senior Executive Compensation Benchmark
FAR Proposed Rule: Senior Executive Compensation Benchmark applicable to all contractor employees effective January 1, 2012 (certain agencies) In this proposed rule, DoD, GSA, and NASA are proposing to amend FAR 31.205-6(p) to require that the compensation costs...
Very Important QuickBooks Lists
In QuickBooks, there are three very important LISTS that provide the framework for all of your transactions. When encountering account coding difficulties within the QuickBooks transactions, you should refer to your lists for an understanding of your basic accounting...