In financial accounting and taxes, attributing expenses to the correct category isn’t just a tip or guideline; it’s a requirement when filing IRS forms, requesting grant funds, or reporting to ...

Funding direct costs supports the expenses that can be specifically identified with a particular project such as researchers, supplies and travel. Funding indirect costs supports the critical ...

When running a small business, organizing for tax season can be stressful. During this time it's important to work with accountants to ensure that your financial statements are accurate and that all ...

Parts and supplies needed by your firm to deliver services must be classified as inventory for service industry businesses. Generally accepted accounting principles specify that purchases in the two ...