Bookkeeping

Thus, it would not make sense to put all of these numbers on the same graph, since we measure them in different units ($ versus $ per unit of output). …

The process for calculating manufacturing overhead from WIP using a batch costing method is similar to one using a single unit measure. This means that you’ll need to add $22.22 …

It’s crucial to understand that the terms “credit” and “debit” don’t necessarily indicate positive or negative transactions. Instead, they represent the increase or decrease of an account balance. Understanding the …

Misunderstanding normal balances could lead to errors in your accounting records, which could misrepresent your business’s financial health and misinform decision-making. This transaction will require a journal entry that includes …

We believe everyone should be able to make financial decisions with confidence. Making sure your finance tools work seamlessly together and looking over your finances regularly ensures your new systems …

Once the invoice has been presented, the amount of the sale is now owed to you. This is money that you’re due to receive, hence its placement in your general …

An income statement should be used in conjunction with the other two financial statements. Typically, investors prefer looking at a company’s operating profit figure rather than a company’s bottom line …

Accountants, investors, and business owners regularly review income statements to understand how well a business is doing in relation to its expected future performance, and use that understanding to adjust …

Various lawsuits and claims, including those involving ordinary routine litigation incidental to its business, to which the Company is a party, are pending, or have been asserted, against the Company. …

It’s important to read and fully understand the requirements for each billing to maintain good financial health on the project. In order to make the process of invoicing as painless …