A partner must reduce the basis of their partnership interest by the total amount of section 179 expenses allocated from the partnership even if the partner cannot currently deduct the total amount. If the partner disposes of their partnership interest, the partner’s basis for determining gain or loss is increased by any outstanding carryover of […]
Category Archives: Bookkeeping
Properly accounting for equity issuance not only reflects the company’s financial health accurately but also supports its long-term strategic goals and growth. Understanding the various types of equity issuance and their corresponding journal entries is crucial for accurate financial reporting and compliance with GAAP. Each type of equity instrument has unique characteristics that impact how […]
Additionally, this is an excellent metric for comparing your company to others in your industry. Activity Ratios – Activity ratios are also known as performance ratios, efficiency ratios & turnover ratios. They are an important subpart of financial ratios as they symbolise the speed at which the sales are being made. Accounting ratios are very helpful […]