Of course, it’s vital to keep the financial perspective of inventory management in mind as well. QuickBooks might be an accounting software, but its integrations…
Suppose a company has fixed costs of $50,000, variable costs per unit of $20, and a selling price per unit of $50. Using the BEP…
In the United States, individual states and municipalities charge a sales tax on retail purchases to raise revenue for the government. Delaware, Montana, New Hampshire,…
For instance, when you receive a payment from a customer, you would always debit your cash account, because the customer payment that you deposited increases…
Compare your projected profits to past profits to confirm whether they’re realistic. Then, you can use those historic numbers and trends to make revenue projections…
As with all bonds there is default risk, which is the risk that the company could go bankrupt and no longer honor its debt obligations.…
Accounting professionals have discouraged the use of the word “reserve,” encouraging accountants to use other terms like “revaluation to LIFO,” “excess of FIFO over LIFO…
If a lease agreement contains at least one of the five criteria, it should be classified as a finance lease. For most situations, if the…
The financial accounting role goes beyond just transactions, covering income cash, bank loans, savings accounts, monthly expenses, and other essential parts that impact the entire…
Once you locate these items, you’ll need to adjust your G/L balance to reflect them. The easiest way to check for this is to print…