Most simple financial transactions involve a customer requesting goods or a service and paying for them immediately. This is an easy accounting process when recording the transaction as revenue.
But, what happens when there are complex, high-value contracts at play? These types of contracts typically involve delayed payment or payment in installments. This begs the question, "when and how can they be recorded as revenue?".
Creating a successful business isn't just about selling products or services. It's also about making smart decisions based on your company's data. Having the ability to look at the current and projected financial health of the business is vital if you want to scale or invest. However, financial reporting often requires an expert eye with experience to compile the data effectively. Therefore, to gain a good overview of their business's financials and decide what steps to take next, it is strongly advised businesses seek professional services from a financial reporting accountant.
Ready to hire employees for your business? If so, you’ll need to know and understand what the I-9 form is. Mandated by the Immigration Form and Control Act of 1986, proper completion of the I-9 document is required for every employee within an organization. Failure to complete the I-9 documents will almost certainly land you in hot water. Hefty fines and even prosecution could be on the cards if you don’t comply with the I-9 information requirements.