Accounting and Tax Services in Richmond, VA .

The accounting for gain contingency is a potential or pending development thay may result in a future gain to the company. For example, a successful lawsuit against another company. Another example would be an insurance recovery. If the insurance recovery is likely, that part of an insurance claim that relates to recovery of an incurred loss may be recognized when the loss is recognized. This is dependent that there is no indication that the insurance company will not d

Many small business owners bootstrap their businesses. A small business owner does not realize how not keeping a good record of their business' finances is affecting their profits and revenues. This is princippaly true when it comes to bookkeeping; as it's one of the main reasons for small businesses going out of business. This includes overlooking financial mismanagement. If you're a first-time entrepreneur, you might be wondering: What exactly is bookkeeping and how it d