#accounting
Accounting
Master accounting fundamentals and best practices for plain-text bookkeeping
Podcast Production Bookkeeping: Why a Full Sponsor Calendar Doesn't Mean You're Profitable
Podcast sponsorship cash isn't earned on the day it's invoiced — under ASC 606 it's deferred revenue until guaranteed impressions actually deliver, and skipping that step, plus mis-costing network splits and guest booking time, is why production shops with full sponsor calendars still lose money.
Recording Gifts-in-Kind: A Nonprofit Accounting Guide to ASU 2020-07
Under ASU 2020-07 (ASC 958-605), nonprofits must record donated goods, services, and facility use at fair value on a separate line item and disclose valuation methodology by category, or risk an auditor flagging the financial statements.
RV Repair Shop Bookkeeping: Warranty Reimbursement and Labor Rate Guide
RV repair shops often bill $140-$190/hour retail but get reimbursed $20-$40/hour less on warranty labor, and two-thirds of shops under-mark parts by $40,000-$70,000 a year, so separate warranty, retail, and parts revenue accounts to see the real margin.
True Endowment vs. Board-Designated Endowment: A UPMIFA Guide for Nonprofits
True endowments are created by donor restriction and governed by UPMIFA; board-designated endowments are unrestricted funds the board chose to treat like an endowment and can undesignate at any time — mixing up the two is the most common misstep auditors flag in nonprofit endowment reviews.
Value-Based Pricing vs. the Billable Hour: An AI-Era Guide for Service Businesses
AI is compressing service-delivery time by 3-4x, making hourly billing punish the professionals who get faster; 64% of accounting and bookkeeping firms have already shifted to fixed-fee or value-based pricing to capture that speed as margin instead of losing it as revenue.
Property Management Trust Accounting: The Three-Way Reconciliation That Keeps You Out of Regulatory Trouble
Property management trust accounts require a monthly three-way reconciliation matching the bank balance, general ledger, and tenant sub-ledgers to the penny, and even a one-dollar variance is treated as a noncompliant account by state real estate regulators.
SBIR/STTR Grant Accounting: Indirect Cost Caps and Avoiding a Clawback
SBIR and STTR awards are cost-reimbursable federal funding governed by FAR 31.205 and 2 CFR 200 — DOE now caps indirect costs at 15% of total award value, NIH has tightened its F&A allowance, and undocumented labor costs are the most common clawback trigger.
Sales Tax Exemption Certificate Management: The Audit-Ready Playbook
Auditors extrapolate the certificate deficiency rate found in a sample across the entire audit period, so a handful of missing resale or exemption certificates can turn into a six-figure sales tax assessment — here are the six practices that keep certificate files audit-ready.
Fractional and Outsourced CFO Practice Bookkeeping: A Complete Guide for Solo Operators and Multi-Partner Firms
How independent fractional and outsourced CFOs should structure their books — ASC 606 treatment for retainers and project work, 409A and 83(b) handling for advisor equity, the Section 199A SSTB phase-out at $201,750 single / $403,500 joint, and target utilization and realization benchmarks for a healthy practice.
Yacht Broker and Marine Service Yard Bookkeeping: ASC 606 Commissions, Trust Accounts, and Travel Lift Depreciation
Yacht brokerages recognize commissions at closing under ASC 606, segregate deposits in Chapter 326 trust accounts, and depreciate travel lifts with Section 179 — and the service yard runs on technician utilization, parts margin, and slip occupancy KPIs.
Auction House Bookkeeping: Consignor Trust Accounts and the Agent vs. Principal Trap Under ASC 606
Auction houses are agents under ASC 606, not principals — book buyer's premium and seller's commission as net revenue, segregate consignor funds in a trust account, and reserve for bidder default on Proxibid and HiBid online sales.
Indoor Climbing and Bouldering Gym Bookkeeping: A Complete Guide for Facility Operators
How indoor climbing and bouldering gyms should handle deferred membership revenue under ASC 606, Section 179 elections on walls and holds, W-2 vs 1099 setter classification, insurance reserves, and operating KPIs like revenue per square foot, churn, and member density.