What is the difference between “Big R” and “Little r” Restatements? [Video]

Embarking on the journey of launching a new business is akin to setting sail into uncharted waters. The excitement of pursuing your passion and bringing your vision to life is palpable, yet the challenges and uncertainties that lie ahead can be overwhelming. In today's hyper-competitive business landscape, merely having a great idea is not enough. To truly thrive and make a significant impact, you must be equipped with the strategies and tools to turbocharge your new venture, propelling it forward with momentum and purpose. In this guide, we'll explore actionable steps and insights to help you navigate the tumultuous waters of entrepreneurship and position your business for rapid growth and success.

Similar to pension expense, postretirement benefit expense (e.g., the expense incurred due to a postretirement benefit obligation like healthcare provided for retirees) has 5 components:(1) service cost(2) interest cost (3) the expected return on plan assets(4) amortization of prior service cost (or prior service credit)(5) amortization of net gain or net lossService cost is the portion of the EPBO attributable to a particular period. It is calculated as follows: service cost = ending balance of EPBO * fraction attributed to service rendered during that periodInterest cost is calculated as follows:interest cost = beginning balance of APBO * interest rate (aka discount rate)The expected return reduces postretirement benefit expense; however, many postretirement healthcare plans are unfunded, which means there will be no expected return.Unlike with pensions, prior service cost for other postretirement benefit plans is amortized over the number of years remaining until full eligibility is reached for the healthcare benefits (with pensions, prior service cost is amortized over the remaining service years of active employees).— Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world.— SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING• A 44-PAGE GUIDE TO U.S. TAXATION• A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS• MANY MORE FREE PDF GUIDES AND SPREADSHEETS* http://eepurl.com/dIaa5z— SUPPORT EDSPIRA ON PATREON*https://www.patreon.com/prof_mclaughlin— GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT * https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST * Apple Podcasts: https://podcasts.apple.com/us/podcast/scheme/id1522352725 * Spotify: https://open.spotify.com/show/4WaNTqVFxISHlgcSWNT1kc * Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK * https://www.tiktok.com/@prof_mclaughlin — ACCESS INDEX OF VIDEOS * https://www.edspira.com/index — CONNECT WITH EDSPIRA * Facebook: https://www.facebook.com/Edspira * Instagram: https://www.instagram.com/edspiradotcom * LinkedIn: https://www.linkedin.com/company/edspira — CONNECT WITH MICHAEL * Twitter: https://www.twitter.com/Prof_McLaughlin * LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin — ABOUT EDSPIRA AND ITS CREATOR * https://www.edspira.com/about/* https://michaelmclaughlin.com

The accounting and finance landscape is constantly adapting. Driven by evolving regulations, emerging technologies, and the rise of artificial intelligence. Learn how Filed harnesses AI to empower firms to stay ahead and provide exceptional, client-focused service. #startupaccelerator #accounting #finance #AI

The accounting and finance landscape is constantly adapting. Driven by evolving regulations, emerging technologies, and the rise of artificial intelligence. Learn how Keeper harnesses AI to empower firms to stay ahead and provide exceptional, client-focused service. #startupaccelerator #accounting #finance #AI