Most professions have their unique terminology that professionals use when engaging in work processes.  For accounting and bookkeeping, terminology like debts and credits, T-accounts, accruals, amortization, depreciation, GAAP, GAAS, GASB  etc.

I discussed the complexities of compliance with wage and hour laws in a previous post.  Which apply…

It’s unlikely that you will ever come across anyone who enjoys paying taxes, much less preparing them!  For those required to file corporate tax returns, the task can be even more challenging and unnerving that preparing their individual return

Knowing the wage and hour laws and applying them is one of the basic tasks of employers in general and the payroll department in specific.

Disaster occurs without warning.  Your employees may be affected by wildfires, earthquakes, hurricanes, ice storms and/or tornados.  When a disaster occurs, personal lives can be upended.

Benjamin Franklin is often credited with saying “nothing is certain in life but death and taxes”.  While this quote has been edited to include all sorts of silly sayings and puns, it can hardly be argued against, especially

The U.S. Department of Labor (DOL) has announced a proposed rule for tip provisions of the Fair Labor Standards Act (FLSA).  The proposed rule would implement provisions of the Consolidated Appropriations Act of 2018 (CAA).

About Knitting and Systems Evolution

GAAP stands for Generally Accepted Accounting Principles and is the accounting standard used by the United States.  The standard-setting board behind GAAP is the Financial Accounting Standards Board (FASB).

Is It Worth It?