Ben Simpson

Deferred Revenue vs Accrued Revenue Key Differences This difference in timing can significantly impact a company’s tax liability in a given period. Managing these timing differences is essential for accurate financial reporting and compliance. Stripe’s resource provides a good overview of how deferred revenue affects financial statements and tax liability. Understanding these nuances helps businesses

Gross Pay vs Net Pay: Understanding the Difference and Why It Matters for Employers Social Security and Medicare taxes, collectively known as FICA taxes, fund social insurance programs. For 2024, the employee’s portion of Social Security tax is 6.2% of wages up to an annual limit of $168,600, while Medicare tax is 1.45% of all

What Is a Budget? How to Start and Why It Matters Successful home budgeting skills empower you to reach any financial goal you set. Likewise, being able to set and follow a budget at work positions you for promotion and broader responsibilities. When calculating your income, figure out how much money you typically have coming

The concept of ATMs was first brought to life in 1967 when Barclays Bank installed the world’s first cash machine in London. The invention transformed banking forever, offering people unprecedented access to their money. ATMs are a global phenomenon, found in virtually every country and region around the world. They are often part of interbank

The concept of ATMs was first brought to life in 1967 when Barclays Bank installed the world’s first cash machine in London. The invention transformed banking forever, offering people unprecedented access to their money. ATMs are a global phenomenon, found in virtually every country and region around the world. They are often part of interbank