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It differs from for-profit accounting because it focuses on accountability rather than profitability. Nonprofit accounting uses specific rules and procedures to track how funds are being used and thus keep their leadership accountable to its donors and contributors. Let’s learn what makes nonprofit accounting different from traditional accounting and how nonprofit financial statements look like. […]

Accrued Expenses vs Accounts Payable: Whats the Difference? Understanding the differences between cash and accrual accounting clarifies how each method affects financial records and business needs. The IRS requires businesses with inventory or over $5 million in annual revenue to use accrual accounting. For service-based businesses without inventory, cash accounting might be acceptable. This method

ROI is the percentage increase or decrease of an investment from beginning to end. It is calculated by taking the difference between the current or expected future value and the original beginning value, divided by the original value, and multiplied by 100. Most IRR analyses will be done in conjunction with a view of a

The reduction in earnings before tax directly affects how much tax the patent amortization company will pay. Plus, these numbers are closely watched by investors and analysts as indicators of a company’s performance. Therefore, getting the amortization charges right is essential—not just for compliance, but also for maintaining investor confidence and ensuring that tax is