They adjust the balances of accounts to reflect the actual financial position of a company. A contra account is subtracted from its related account on…
Do Dividends Reduce Retained Earnings?
Each of these shareholders is entitled to his share in the profit generated by the company through its operations. When profit is actually earned, the…
Post Closing Trial Balance: The Final Check: Post Closing Trial Balance Essentials
This discovery allows the accountant to correct the error before the new accounting period begins, preventing the misstatement of financial results. The unadjusted trial balance…
Understanding Conformity: Why We Follow the Crowd
So let us celebrate nonconformity as an essential ingredient for personal growth, societal progress, and a brighter future. Normative social influence occurs when individuals conform…
Conformity Bias: What is it, and why is it important to understand it? 2025
In group settings, foster an environment where differing opinions are valued and encouraged. This can help reduce the pressure to conform and promote independent thinking.…
Variable Declining Balance Depreciation Calculator
Nonresidential real estate will generally be depreciated using the straight line method over 39-years under MACRS. However, one way of increasing depreciation deductions is by…
1031 Exchange Rules for Real Estate Investors in 2025
In order to have 100% of the gain deferred on a 1031 exchange, the investor needs to purchase a property that is equal to or…
Exempt organization types Internal Revenue Service
Transparency is not just a compliance requirement; it’s also vital to building trust with donors, grantmakers, and the communities you serve. In this article, we’ll…
501c3 Organization: What It Is, Pros and Cons, Examples
A membership organization elects the board and has regular meetings and the power to amend the bylaws. A board-only organization accounting services for nonprofit organizations…