Back to Basics: What is a Balance Sheet?
Simply put, a balance sheet serves as a snapshot of a business’ financials at any given time. It can be used by company executives to gauge the business’ stability and solvency, which is crucial information to have when considering expansion or other actions. Balance sheets offer insight into current assets (also known as liquid assets), [...]
How to Make Audits Easier (No, Really!)
For a lot of organizations, auditing is looked upon as a necessary evil. As with many things that aren’t enjoyable, it’s natural for companies to try to minimize the number of times they audit their fixed asset holdings over the course of a year. However, those that put it off until it’s time to prepare [...]
Extra, Extra! Depreciation in the Headlines
Depreciation has been in the news over the past few months for several reasons. In a speech in July, President Barack Obama called out a depreciation tax loophole that allows corporate jets to be depreciated over a five-year period rather than the seven years required for their commercial counterparts. Being able to rapidly deduct the [...]
How Do Barcode Labels Work?
A barcode is made up of a pattern of wide and narrow bars representing a number that can be used to identify a product. Photosensors in inventory barcode scanners convert the pattern into an electrical signal when scanning the code. The widths of the bars and spaces are translated into regular characters, which can then [...]