Monetary statements are formal paperwork that show how a business earns and spends money. They give a full picture of the company’s revenue, expenses, property, money owed, and value. Revenue, also called sales or income, represents the total amount of cash a company earns from its operations. Income can be generated from various sources, corresponding
Note, if you fail to deduct income tax, EI, or CPP from an employee’s paycheque, there is a penalty of 10% of the amount you failed to deduct. Net pay is the amount your employee has left over after taxes, benefits, and deductions are removed. To properly manage your business’s payroll and finances, it’s important
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If that is the case, then learning this concept could very well lift your business to greater financial heights. Imagine having a method to reliably account for potential price shifts of your business’ assets? This is called mark to market, or MTM, which can relay an accurate evaluation of a company — and can better
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