Month: February 2021

If a business estimates that an asset’s salvage value will be minimal at the end of its life, it can depreciate the asset to $0 with no salvage value. The difference between the asset purchase price and the salvage (residual) value is the total depreciable amount. There’s also something called residual value, which is quite […]

After working in the field for at least a year, CPAs also need to take an exam. To meet the requirements for the CPA exam, some professionals enroll in master’s in accounting programs. Most employers prefer hiring new bookkeepers who will learn from more senior professionals. Recently hired bookkeepers should expect to receive around six […]