Does GASB apply to nonprofits?
The GASB defines three different reporting methods for government accounting. The FASB is intended for “investors and others who use financial reports,” e...
Knowledge Base
Latest insights and tutorials from the The Daily Horizon team.
Can I open bank account without visiting branch?
SBI new video KYC: Now you can open a savings account without visiting branch. State Bank of India (SBI) on Friday launched a Video KYC based account open...
Read More →Why is my customer asking for a W9?
When a business requests a W9 form, they use it to ensure they have the correct information to prepare a 1099-MISC form. No doubt you’re excited to get pa...
Read More →When does the Statute of limitations on tax debt expire?
The IRS has only 10 years to collect the tax. The date that the IRS is no longer allowed to collect the tax is called the collection statute expiration da...
Read More →Why is dividends normal balance debit?
Why do dividends have a debit balance? Generally, the company or corporates pay dividends to its investors. It is paid out of the company’s retained earni...
Read More →What are the steps for an effective change management?
8 Essential Steps for an Effective Change Management Process Identify What Will Be Improved. Present a Solid Business Case to Stakeholders. 3 .Plan for th...
Read More →What is allowance for doubtful receivables?
An allowance for doubtful accounts is a contra account that nets against the total receivables presented on the balance sheet to reflect only the amounts ...
Read More →Are 401k contributions automatically deducted?
401(k) and the Standard Deduction A 401(k) plan is a type of retirement account that you can set up through your employer. Typically, it allows you to sav...
Read More →Can you still draw social security at age 66?
if age 66 is your “full retirement age” with Social Security, you can collect FULL Social Security AND FULL wages while you remain employed. At my employe...
Read More →How much can I withdraw from First Horizon Bank?
$600 per card Limitations on Usage. When you use your PIN, cash withdrawals from ATMs are limited to $600 per card each business day unless we have agreed...
Read More →