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What Is Accounting Cycle

WebThe accounting cycle is a systematic series of steps followed by accounting professionals to record and manage the financial transactions of a business. It begins …

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URL: https://synder.com/blog/accounting-cycle/

Accounting for Medical Practices: Bookkeeping Practice for …

WebAccounting for medical practices is a specialized field that combines fiscal responsibility with healthcare service. This comprehensive guide delves into the essential …

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What is the accounting equation: understanding your balance sheet

WebLet’s start with the definition. The Accounting equation is a fundamental principle in financial accounting that expresses the relationship between a company’s …

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What Is Revenue Cycle Management: Quick Overview

WebRevenue cycle management (RCM) is a critical process for healthcare providers to manage their financial operations effectively. The process involves …

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1099-MISC Instructions: A Guide to 1099 MISC Form and …

WebInstructions for 1099-MISC form – your tax form reading guide. The IRS provides 1099-MISC instructions to help people accurately fill out the 1099-MISC form. …

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Medicare Tax: Understanding Medicare and the Respective Tax …

WebThe standard Medicare tax rate is 1.45% of the earned income for both employees and employers. For self-employed individuals, they are responsible for paying …

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Financial Statements: How to Read and Understand Them

WebFinancial statements are reports that show the financial performance of a business over a specific period. They include information about a company’s assets, …

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What Are Post Tax Deductions: Improving Your Financial Well-Being

WebSubtract the FICA amount from the gross pay: $2,000.00 – $153 = $1847. Subtract the additional taxes from the new total: $923.50 – $85.00 = $1762 – what you’d …

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What is Public Accounting

WebThe essence of public accounting. Public accounting is the sentinel of financial integrity in the corporate world. At its core, it involves the analysis, verification, …

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What Is Financial Management: A Quick Concept Overview

WebFinancial management is a crucial aspect of managing personal and business finances. It involves the process of planning, organizing, directing, and …

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Optimizing Operating Cash Flow (OCF) for Business Success

WebOperating cash flow (OCF) is one of the most important metrics to measure the financial performance of a company. It’s the cash a business receives from its …

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What Are Pre-tax Deductions: Before Tax Deduction Guide

WebWhile pre-tax deductions reduce taxable income before taxes are applied, the taxable benefit of life insurance (over $50,000) is treated as additional income after the …

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Bereavement Leave: What is it and Importance of Implementing …

WebBereavement leave, a provision provided by many organizations worldwide, is a time-off granted to employees following the death of a loved one. This type of leave …

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What is Gross Profit

WebGross profit is a fundamental financial metric that provides critical insights into a business’s operational efficiency and its ability to generate profits. Understanding …

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Profitability Analysis for Ecommerce and SaaS Businesses: An …

WebGross Margin Ratio = (Revenue – Cost of Goods Sold) / Revenue. The higher this ratio, the better your overall performance is. If your Gross Margin Ratio is, for …

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Time Interest earned (TIE) Ratio: A Guide Its Use For A Business

WebTIE, or Times Interest Earned, is an important metric a business might want to understand to accurately evaluate and manage cash flow. It speaks of a company’s …

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IRS Form 720 Explained: Understanding Your Excise Tax Obligations

WebIRS Form 720 is known as the Quarterly Federal Excise Tax Return. This form is used by businesses to tell the IRS (Internal Revenue Service) about the special …

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