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What Is Accounting Cycle

WebThe accounting cycle is a systematic series of steps followed by accounting professionals to record and manage the financial transactions of a business. It begins …

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What Is Revenue Cycle Management: Quick Overview

WebRevenue cycle management (RCM) is a critical process for healthcare providers to manage their financial operations effectively. The process involves …

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1099-MISC Instructions: A Guide to 1099 MISC Form and …

WebInstructions for 1099-MISC form – your tax form reading guide. The IRS provides 1099-MISC instructions to help people accurately fill out the 1099-MISC form. …

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Medicare Tax: Understanding Medicare and the Respective Tax …

WebThe standard Medicare tax rate is 1.45% of the earned income for both employees and employers. For self-employed individuals, they are responsible for paying …

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Accounting for Medical Practices: Bookkeeping Practice for …

WebAccounting for medical practices is a specialized field that combines fiscal responsibility with healthcare service. This comprehensive guide delves into the essential …

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Small Business Employee Benefits: Comprehensive Benefits for …

Web4. Voluntary benefits to offer your workers and employees. Health insurance benefits. Psychological health employee benefits. Financial benefits. Growth benefits. 5. …

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Revenue Cycle Management: Optimizing Your Business's Financial …

WebRevenue cycle management (RCM) is the process of managing the financial aspects of a business’s interactions with its customers, from initial contact to payment …

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Payroll Forms Explained: A Detailed Guide to Forms in Payroll

WebThese are all the forms and documents related to paying employees. This includes tracking their hours, calculating their wages, and handling deductions like …

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The role of financial statements in business management

WebFirst of all, financial statements are a good way of measuring how well a company performs and how good a certain period of time was for a company. For …

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Liquidity Ratio: All You Need to Know About Liquidity Ratios

WebBy definition, a liquidity ratio is a financial metric evaluating a company’s ability to meet its short-term financial obligations with its readily available assets. It …

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Profitability Analysis for Ecommerce and SaaS Businesses: An …

WebGross Margin Ratio = (Revenue – Cost of Goods Sold) / Revenue. The higher this ratio, the better your overall performance is. If your Gross Margin Ratio is, for …

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Variance Report for Beginners: Navigating Budgets and Actuals …

WebThe variance formula is a fundamental tool used in financial analysis and management to assess performance against financial plans and budgets. Here is the …

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Bereavement Leave: What is it and Importance of Implementing …

WebBereavement leave, a provision provided by many organizations worldwide, is a time-off granted to employees following the death of a loved one. This type of leave …

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Time Interest earned (TIE) Ratio: A Guide Its Use For A Business

WebTIE, or Times Interest Earned, is an important metric a business might want to understand to accurately evaluate and manage cash flow. It speaks of a company’s …

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What Are Pre-tax Deductions: Before Tax Deduction Guide

WebWhile pre-tax deductions reduce taxable income before taxes are applied, the taxable benefit of life insurance (over $50,000) is treated as additional income after the …

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Optimizing Operating Cash Flow (OCF) for Business Success

WebOperating cash flow (OCF) is one of the most important metrics to measure the financial performance of a company. It’s the cash a business receives from its …

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IRS Form 720 Explained: Understanding Your Excise Tax Obligations

WebIRS Form 720 is known as the Quarterly Federal Excise Tax Return. This form is used by businesses to tell the IRS (Internal Revenue Service) about the special …

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What Are Post Tax Deductions: Improving Your Financial Well-Being

WebSubtract the FICA amount from the gross pay: $2,000.00 – $153 = $1847. Subtract the additional taxes from the new total: $923.50 – $85.00 = $1762 – what you’d …

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