by admin | Jun 8, 2023 | Bookkeeping
In a flexible budget, there is no comparison of budgeted to actual revenues, since the two numbers are the same. The model is designed to match actual expenses to expected expenses, not to compare revenue levels. There is no way to highlight whether actual revenues...
by admin | May 3, 2023 | Bookkeeping
The percentage of contribution each owner makes to the business decides the percentage of profits and returns that he can expect from it. Since businesses require these resources to function, this is an essential source of finance for all organizations. Companies...
by admin | Apr 18, 2023 | Bookkeeping
This could present problems when a company is too heavily leveraged. There are a number of high-quality accounting software solutions available. To find out which is the right option for your business, check out our article detailing the best accounting software for...
by admin | Apr 10, 2023 | Bookkeeping
In double-entry accounting, any transaction recorded involves at least two accounts, with one account debited while the other is credited. Inventory is an asset, which we know increases by debiting the account. When an item is purchased on credit, the company now owes...
by admin | Apr 3, 2023 | Bookkeeping
Examples of fixed overhead costs that can be found throughout a business are rent, insurance, office expenses, administrative salaries, depreciation, and amortization. An overhead cost can be categorized as either indirect materials, indirect labor, or indirect...
by admin | Dec 20, 2022 | Bookkeeping
If you are pre-paid for performing work or a service, the work owed may also be construed as a liability. Companies will segregate their liabilities by their time horizon for when they are due. Current liabilities are due within a year and are often paid for using...
