Set up check-ins with your provider every once in a while to discuss the partnership and convey expectations. When working with any service provider, it’s important to establish service-level agreements (SLAs). These lay out the specifics of the services provided…

Depreciation Tax Shield is the tax saved resulting from the deduction of depreciation expense from the taxable income and can be calculated by multiplying the tax rate with the depreciation expense. Companies using accelerated depreciation methods (higher depreciation in initial…

In this case, Speakers, Inc. uses its cash to buy another asset, so the asset account is decreased from the disbursement of cash and increased by the addition of installation equipment. When a company purchases goods or services from other…

While you may be an expert at marketing or operations, don’t underestimate the importance of small business accounting. Without a clear financial picture, it can be difficult to move your business forward. This can be as simple as a statement…