Accounting Tips to Remember Debits & Credits

Businesses require resources such as cash, labor and capital in order to set up, start, run and expand their operations. Such production resources can be acquired through incurring economic obligations to other entities -- either creditors or owners who choose to invest their personal resources into those businesses. Businesses use these resources in the course of producing their revenues and incurring expenses. In general, assets and expenses are recorded on the ledger as debits, while liabilities, equity and revenues are recorded as credits.

How to Calculate Debt Ratio With Liabilities and Net Worth

Accounting is full of useful ratios that can give meaning to the figures on your balance sheet, and debt ratio is no different. Debt ratio tells you how much your company relies on debt to conduct business. Debt ratio is calculated by dividing total liabilities by total assets; however, if you only have your total liabilities and net worth, you can still perform this calculation.

How to Calculate Cache Ratio

Detailed measurements of your website statistics can tell you a lot about the people who are visiting your site. The cache ratio, for example, can tell you the percentage of attempted accesses to your site that result in cache hits. Cache hits are instances in which a user's web browser uses the copy of the assets stored locally in its cache rather than retrieving the files from your web server. A higher cache ratio is indicative of a higher number of users

Net Expense Ratio Vs. Gross Expense Ratio

Net expenses and gross expenses both refer to slightly different expense ratios of an investment fund. Specifically, these ratios demonstrate how much a fund must pay out in expenses and thus represent important information for any investor. Understanding the difference between the two ratios and knowing what to look for when researching a particular fund's expense ratios can help the investor better evaluate the investment fund.

What Financial Information Is Needed for Refinancing?

To refinance a loan, lenders ask for specific pieces of financial data, including information such as income, expenses, assets and debts. If you don't have acumen in accounting or finance, seek the guidance of an expert such as a financial planner or a certified public accountant. The specialist can help you sort out your financial information, tell you which item is relevant, and show you those items that need short-term fixing.

7 Year Statute of Limitations on Your Credit Report

A missed payment will appear on your credit report for seven years. This is an important fact as you consider future financial plans. For example, buying a home may not seem important to you when you're young or in college, but seven years later the credit required to make a major purchase may be a priority. The idea is to take care of your credit today just in case you need it later.

How Will I Know if My Tax Return Has Been Garnished for a Debt?

The Financial Management Service (FMS), a division of the national treasury, is responsible for issuing refund payments and is authorized by Congress to offset any refund owed you when you have unpaid state taxes, owe back child support or have any other debt to a government agency caused by illicit means. This offset can occur even if you are currently on a payment plan.

The Illinois Statute of Limitations to Claim Ownership

Illinois sets a statute of limitations for a person seeking to claim ownership of land. In addition to a statute of limitations, other elements must be clearly met. For property other than land, Illinois has no set statute of limitations. However, before an individual can claim ownership of personal property, Illinois requires signs that the original owner intended to abandon it.

Net Operating Loss & the Carryforward Period

The Internal Revenue Service (IRS) allows a taxpayer who suffers a net operating loss to apply the loss against his taxable income during the year he incurs the loss. If a taxpayer's loss exceeds his taxable income in a given year, the IRS may allow him to use the excess to offset his income in both previous and subsequent tax years. The IRS cites a loss from operating a business as the most common cause of a person's net operating loss. Other deductions that may cause a net operating loss typically result from a taxpayer's moving expenses, casualty and theft, rental property and work as an employee.

Grants for Fingerprint Work

Grants for fingerprint work, which verify an individual's criminal history, are available from federal, state and private organizations and companies. Technology to assist law enforcement agencies update their fingerprinting systems from document and ink to digital fingerprint technology can run upward of $30,000, so grants can be extremely helpful to this end.

One Dinky Blanket Could Save You $360 This Winter?

Want to save $360 this winter? Of course you do. As long as it doesn’t require too much work on your part, right? It’s simple, really, and it won’t inconvenience you, so long as kitty can stand a few degrees’ decrease while you’re at work.