Minimum Wages for Tipped Employees U S. Department of Labor
An employee earning a guaranteed monthly compensation of $4,000 or more is exempt from the State minimum wage and overtime law. Employers subject to the Fair Labor Standards Act must pay the current Federal minimum wage of $7.25 per hour. The minimum wage in the Portland metro area is $15.95 per hour and the minimum […]
Mastering Tying Out for Precise Financial Reporting
Audits are your safety check—they help catch these errors early, saving money and keeping your financial operations clean and efficient. Fraud and phishing attempts are a growing concern for accounts payable audit finance leaders, and AP departments often find themselves in the spotlight. The accounts payable turnover ratio is a short-term liquidity measure used to […]
Double declining balance method: Formula and examples
But I do recommend working with your CPA or financial advisor to set-up depreciation schedules for any new assets your business may acquire. This accounting tutorial teaches the accelerated method of depreciation called Double-declining method and provides examples illustrating the accounts involved, how depreciation affects financial reports, and more. Understanding the tools available for double […]
