Antonio Cantu

According to BLS data, government-employed accountants and auditors earn a median salary of $77,290. Positions are available as an Audit Committee Chair or Audit Committee Member for public companies, private companies, not-for-profit organizations and government organizations. Under the Sarbanes-Oxley Act (SOX), there is a requirement for a financial expert on the Audit Committees for public …

Public Accounting: Definition, Functions & Examples Leer más »

Two come from double-entry accounting services that have no monthly subscription fee. Sunrise’s bookkeepers reconcile up to 120 transactions per month and provide support (text and email), month-end closings, and cash flow reports for $149 monthly. For $299 monthly, the Growing level reconciles up to 200 transactions and adds phone support. The Corporate level supports …

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Cash discounts, which customers sometimes get if they settle their credit invoices early, are recorded separately in a contra sales discount account. Contra means that the account reduces the value of the sales account on the income statement. Sales returns are goods that customers return to a company due to various reasons. Sales allowances are …

Closing Entries, Sales, Sales Returns & Allowances in Accounting Leer más »

Sales returns are defective or unusable products that customers return to sellers. For example, customers might have to present proof of purchase, return the product in its original packaging and make a return claim within a specified period. Sales allowances are reductions in the original selling price for defective products that customers agree to keep. …

Sales Returns and Allowances Journal Entry Definition & Explanation Leer más »