TAX BOOKKEEPING
FINANCIAL STATEMENTS
Financial Statements are the reports signifying the end result of the financial accounting process. The reports are as follows: A. Income Statement This is a report that summarizes the business...
FINANCIAL STATEMENTS
Financial Statements are the reports signifying the end result of the financial accounting process. The reports are as follows: A. Income Statement This is a report that summarizes the business...
ACCOUNTING RECORDS
Taxpayers are required by law and regulations to keep and maintain accounting records in sufficient detail to enable them to make a proper return of income. The books and records...
ACCOUNTING RECORDS
Taxpayers are required by law and regulations to keep and maintain accounting records in sufficient detail to enable them to make a proper return of income. The books and records...
BOOKKEEPING SYSTEMS
Bookkeeping may be classified into two systems, namely, (1) the single entry and (2) double entry. A. SINGLE ENTRY SYSTEM of bookkeeping is basically a type of “net worth” method...
BOOKKEEPING SYSTEMS
Bookkeeping may be classified into two systems, namely, (1) the single entry and (2) double entry. A. SINGLE ENTRY SYSTEM of bookkeeping is basically a type of “net worth” method...
ACCOUNTING METHODS
The taxable income of a taxpayer shall be computed in accordance with the method of accounting he regularly employs in keeping his books. The methods of accounting recognized under the...
ACCOUNTING METHODS
The taxable income of a taxpayer shall be computed in accordance with the method of accounting he regularly employs in keeping his books. The methods of accounting recognized under the...
ACCOUNTING PERIODS
Accounting periods are generally classified into two. They are: Calendar year; and Fiscal year Calendar Year — is an accounting period which starts from January 1 and ends on December...
ACCOUNTING PERIODS
Accounting periods are generally classified into two. They are: Calendar year; and Fiscal year Calendar Year — is an accounting period which starts from January 1 and ends on December...