What Is Shareholder Equity SE and How Is It Calculated?

Stockholders’ equity, also known as owner’s equity, is the total amount of assets remaining after deducting all liabilities from the company. Transactions that involve stockholders are primarily the distribution of dividends and the sale or repurchase of...

LIFO Reserve Meaning and How to Calculate It

This allows companies to better adjust their financial statements and budget in regards to sales, costs, taxes, and profits. It is practically impossible for most companies to track the flow of each and every inventory item. So, the company’s management is responsible...

28 Bookkeeping Skills You NEED as a Bookkeeper

Although it’s more complicated, it can prevent bookkeeping errors. And since it takes equity, assets and liabilities — on top of expenses and income — into account, it typically gives you a more accurate financial snapshot of your business. Using the data you gain...

How to Calculate Sales Tax on Almost Anything You Buy

This group of five includes the states of Alaska, Delaware, Montana, New Hampshire, and Oregon. Even within the same state, local or municipal sales taxes may be imposed, resulting in various sales tax rates. Sales tax does not apply to the vast majority of...