More and more businesses use barcode scanners at the point of sale. According to generally accepted accounting principles (GAAP), companies can choose to use either a periodic or perpetual inventory system. Understanding the difference between the two systems can help you figure out which method works best for your business. Periodic Inventory System Periodic inventory management allows a company to track its beginning inventory and ending inventory within an accounting period, but it does not track the inventory on a daily or per-sale basis....

Originally, a subsidiary of Great American Insurance, the company joined forces with Infinity Insurance in 2005. The company is headquartered in Alpharetta, Georgia, with approximately 100 employees. The senior product manager is Terry McMahan and the customer service manager is Joy Lietch. The parent company, Infinity Property and Casualty Corporation is a nonstandard auto insurance carrier licensed in all 50 states that markets its insurance products in Arizona, California, Florida, Texas, Georgia, Nevada, and Pennsylvania....

Here’s a quick look at the most significant economic indicators of the day and what they tell us. Inflation The Federal Reserve’s preferred measure of inflation showed consumer prices continued to accelerate, rising 6.1% in the year through January—up from 5.8% in the year through December and marking a fresh high since 1982. Excluding food and energy costs—which are prone to large swings—the inflation rate rose to 5.2% from 4....

Learn how tax rates of corporations and individuals compare, plus the difference in taxes paid by corporate businesses and other types of small businesses. What’s the Difference Between Corporate Tax Rates and Personal Tax Rates? That same law also changed personal tax rates, which now range from 10% to 37%, depending on income. The lowest tax rate applies to single individuals with incomes of $10,275 or less and married couples filing jointly with incomes of $20,550 or less....

“In a year that was taxing for everyone, life insurance benefits provided families with the means to endure financially after the loss of a loved one,” said Andrew Melnyk, ACLI chief economist, in a statement. The outsized numbers show the toll the pandemic has taken on people. Not only were payments at a record high, but more people bought life insurance. Total life insurance coverage reached $20.4 trillion last year, ACLI said, after a record $3....

Experian said Thursday that it plans to launch a dedicated buy now, pay later bureau this spring to allow BNPL providers to report data on all types of point-of-sale products and consumer payments. Equifax said it will start including consumers’ BNPL activity as an entry in traditional credit reports this quarter, allowing consumers who make on-time payments to potentially build or improve their FICO score (used by lenders to determine the risks of loaning you money)....

For any industry reliant on diesel, the surge in price threatens to fuel inflation even more—and could ultimately be passed on to consumers. Besides the transportation sector, diesel also powers key machinery in the agricultural and construction sectors, helping keep farming and manufacturing operations moving forward, Craig Fuller, CEO of transportation information provider FreightWaves, wrote on the FreightWaves website Sunday. “Since diesel powers the industrial economy, the recent surges in prices will put additional inflationary pressures on the U....

Gross Profit Gross profit is the total sales minus the cost of generating that revenue. In other words, gross profit is sales minus cost of goods sold. In simple terms, it is your total profit minus other expenses such as salaries, rent, and utilities. Sales minus COGS (Cost of Goods Sold) = Gross Profit in Dollars Note that generally accepted accounting principles (GAAP) require that gross profit be broken out and clearly labeled on all profit and loss (P&L) statements....

Employment taxes are paid to the IRS directly from the employer. These are federal income tax, Social Security and Medicare taxes, and Federal Unemployment Tax Act (FUTA) taxes. Payroll taxes are Social Security and Medicare contributions, but these are defined as payroll taxes only on IRS Form 941, a form employers use to file quarterly returns. Employment Tax Basics The IRS uses the term employment taxes to refer to a list of taxes that relate to employees, including IRS federal income taxes withheld from employee pay and paid to the IRS on the employee’s behalf....

Before investing in Dogecoin or any other cryptocurrency, it’s important that you fully understand it. In this guide, you’ll learn the history and important features of Dogecoin, how it’s mined, and what you need to know about investing. What Is Dogecoin? Dogecoin is an open-source peer-to-peer cryptocurrency founded in 2013 by software engineers Billy Markus and Jackson Palmer. Similar to other cryptocurrencies, Dogecoin runs on blockchain technology. Dogecoin actually began as a joke, and it existed for many years with little public attention....

While many of these jobs—e.g., software developers, web designers, data engineers—tend to require advanced skills, there are plenty of easy, entry-level, work-from-home computer jobs out there. You just need to know where to look and what to look for. Virtual Assistant A virtual assistant provides remote administrative support to a company, team, or executive. This includes a variety of administrative tasks such as scheduling meetings, booking travel, responding to emails, phone calls or messages on social media, entering data or maintaining records, and much more....

A boom is accompanied by a bull market in stocks and a bear market in bonds. Booms also run the risk of high inflation. That happens when demand outstrips supply, allowing companies to raise prices. The National Bureau of Economic Research determines when a boom occurs. It uses economic indicators such as employment, industrial production, and retail sales. Since 1854, there have been 33 boom-and-bust cycles. On average, each boom cycle lasts 38....

filo/Getty Images What Can Go Wrong? Benefits administration is a complex job that involves many tasks. Benefits administrators must explain benefits to employees, enroll workers in plans, add or remove beneficiaries, and keep accurate records. Mistakes are inevitable and even small errors can have far-reaching consequences. For example, suppose you operate a real estate management business. You have hired a new employee (Bob) to do maintenance work at an apartment building your firm manages....

What’s the Difference Between Enterprise Value and Equity/Market Cap? Market value of debt: Measures the market value of bonds issued, lines of credit, loans, leases, and other instruments. Debt is included because enterprise value considers capital contributions from all sources. Market value of minority interest: An adjustment to enterprise value that reflects the accounting treatment of subsidiaries. A company that has more than 50% ownership of a subsidiary has to include 100% of the subsidiary’s assets, liabilities, and income in its financial statements....

Computers Information is the lifeblood of any successful organization. The key to leveraging information to your advantage is purchasing and implementing the right computers and software for your business. You will also want to explore systems for backing up your business data. There are many online services available now that will save you from having to invest in secure and reliable on-site backup equipment for your office. Laptops Laptop computers give you extra mobility, with the ability to bring your work to meetings, presentations, conferences, and anywhere else you need to travel....

Energy efficiency is on the top of all our minds and keeping a well-insulated home is a great way to conserve energy and save money. Check Key Problem Areas for Heat Loss As the weather becomes cooler in the fall, it’s a great time to check for places where heat is escaping your home or cold air is getting in. Doing a check for some key problem areas will help prevent weather-related water damage as well....

As widely anticipated, the Federal Reserve once again raised its benchmark interest rate 0.75 percentage points (75 basis points) on Wednesday, bringing it to a range of 3.75%-4% and said further increases were likely in the future. It is the fourth super-sized interest rate hike since June, and it brought this benchmark rate—known as the fed funds rate—to its highest since 2008. The rate hike came out of the Fed’s seventh meeting this year, and was its latest move in its battle against inflation....

Purpose of the Financial Budget The purpose of the financial budget is to estimate the firm’s cash budget, capital expenditures, and balance sheet line items like assets, liabilities, and owner’s investment. The financial budget is the last budget to be developed by the firm every year since all other budgets, like the individual budgets in the operating budget, are necessary first. The financial budget helps the firm by allowing it to calculate net profit when the budget process is complete....

Because your credit score is calculated based on the information in your credit report, derogatory credit items can hurt your credit score. Many credit score providers, like myFICO and Credit Karma, will give you personalized information about the items that are affecting your credit score. Learn about derogatory credit and how to turn it around. Types of Derogatory Credit Items Different derogatory items affect your credit score in different ways—some items are given more importance than others....

But only base your budget on your monthly bills and grocery costs and you may be left wondering why your budget never works out. That’s because you’re forgetting incidentals. You know, those unexpected expenses that crop up every month that you never seem to plan for. Learn the seven common categories that people often leave out of their budgets. If you eat out even once a month, you need to include this item in your budget....