Services include tax planning, tax return preparation, business formation, litigation support, bookkeeping consultations, and estate planning. Eastham Foster is a member of the American Institute of Certified Public Accountants and the Washington State Society of Certified Public Accountants. Akopyan & Company, CPA, is an accounting firm that retained earnings balance sheet serves clients in Seattle […]

Failing to properly manage IOLTA transactions risks mishandling other funds belonging to your clients – a risk no responsible attorney can afford. Understanding IOLTA lets lawyers concentrate on better legal service. It makes managing money easier and shows a firm is ethical and responsible. The interest from these accounts helps fund civil legal services and […]

What is a Cost Variance? Definition Meaning Example Identify the sources of cost variance using tools such as variance analysis, earned value analysis, and cost performance index. These tools can help you measure the cost performance of your project and compare it with the planned baseline. For example, variance analysis can show you the breakdown […]

What Is Cost Variance CV? Definition, Formula, Example, Calculator However, there are many common mistakes and pitfalls that can affect the accuracy and effectiveness of cost variance analysis and management. In this section, we will discuss some of the best practices that can help you avoid these errors and improve your cost performance. We will […]

What Are Contra-Assets: Understanding Their Role in Bookkeeping Contra accounts are found across different financial statement categories, each serving a distinct purpose in refining reported values. Uncover the essential accounting tools that refine financial figures, ensuring clarity and an accurate portrayal of a company’s true standing. Accounting software can simplify the management of and reporting […]

Contra Asset Account Definition, Examples, List of Accounts In the financial statements the asset account would be offset against the contra asset account to show the net balance. Treasury stock represents shares of a company’s own stock that it has repurchased from shareholders but not retired. Instead of increasing assets or decreasing liabilities (as would […]

This could occur if the actual settlement differs from the previously estimated amount, or if the timing of payments does not align with the initial recognition of the liability or gain. Such revisions are important to accurately reflect the company’s financial position and performance post-litigation. These entries ensure that the lawsuit settlement is accurately reflected […]

Funds will be applied to your selected method of disbursement once they are received from the state taxing authority. Payroll, unemployment, government benefits and other direct deposit funds are available on effective date of settlement with provider. Please check with your employer or benefits provider as they may not offer direct deposit or partial direct […]

Fostering a workplace culture that emphasizes diversity and inclusion can expand career advancement opportunities for all pink collar workers, and create a supportive environment, particularly for women. Pink-collar workers, also known as the “feminized service sector” or “women’s work,” are women who work in predominantly female-dominated occupations within the service sector. These roles typically involve […]

For tax savings to offset the administrative costs and burden, you’ll need to be a relatively high earner. While there’s no magic number, a minimum of $80,000 to $100,000 in business income is a good rule of thumb. Reasonable salary comes down to the job requirements and specialized skills or education required but also considers […]