Monthly Archives: November 2022

general accounting definition 9

General Journal: Definition, Examples & Format Foreign companies must comply with tax guidance in the countries in which they must file a return. This institute created many of the systems by which accountants practice today. The formation of the institute occurred in large part due to the Industrial Revolution. Merchants not only needed to track […]

How to Start Your Tax Practice and Become an Enrolled Agent National Association of Enrolled Agents

Entry-level candidates, who are mainly practitioners, may earn around $52,000 annually, and focus primarily on tax returns. The mid-level professionals may earn a little more than the above, which may again go up to $80,000 per year. However, senior-level professionals have a very lucrative pay scale, which may go up to $132,000 annually. But a […]

Operating Profit vs Net Income: Understanding the Key Differences

Gross profit is revenue minus a company’s COGS, which provides the profit from production or core operations. Operating profit, also known as earnings before interest and taxes (EBIT), is a key financial metric used to measure a company’s profitability. It represents the income generated from a company’s operations after accounting for all operating expenses, such […]