Is Prepaid Insurance a Liquid Asset?

Prepaid insurance can be applicable to various types of insurance coverage, including property insurance, liability insurance, health insurance, and auto insurance, among others. It provides a level of financial security and peace of mind by ensuring that the insured party is protected against potential losses or damages during the specified coverage period. Now that we [...]

By |2024-01-12T18:19:11+01:00December 7th, 2023|Bookkeeping|0 Comments

Perpetual Inventory System Journal Entries

Having a framework for your inventory gives you a way to pinpoint which areas need more attention than others. You would add inventory to your accounting system by making a $2000 debit to your Purchases Account and a $2000 credit to Accounts Payable. You have to get permission to change your inventory cost method from [...]

By |2024-01-03T20:13:33+01:00November 16th, 2023|Bookkeeping|0 Comments

25 интересных мировых стартапов в сфере питания, за которыми нужно следить в 2021 году по версии Startup Pill Еда на vc ru

These tips show you how to do bookkeeping and will increase your ability and knowledge to operate your business with skill. But if you plan and prepare for the unexpected, your business will be much better off in the long-run. The Ascent is a Motley Fool service that rates and reviews essential products for your [...]

By |2024-01-05T12:40:36+01:00November 14th, 2023|Bookkeeping|0 Comments

How to Keep Books for a Small Business: 13 Tips to Follow

With automation, you can streamline your small business bookkeeping tasklist and get back to doing what your business needs. The right accounting software is a great first step in this direction. Keeping your personal and business finances separate is important for a number of reasons. Plus, you can ensure your payroll account has enough money [...]

By |2024-01-05T12:40:33+01:00November 14th, 2023|Bookkeeping|0 Comments

Variable Cost: What It Is and How to Calculate It

These costs generally consist of direct materials, direct labor, and variable manufacturing overhead. Fixed manufacturing costs are regarded as period expenses along with SG&A costs. The short answer is that the fixed manufacturing overhead is going to be incurred no matter how much is produced. But, on a case-by-case basis, including fixed manufacturing overhead in [...]

By |2024-01-05T13:42:46+01:00October 12th, 2023|Bookkeeping|0 Comments

What is Variable Costing? Definition Meaning Example

Under, overhead costs are charged to expense at once, rather than when the related sales occur (which may be in a later period). Consequently, this methodology is only used for internal reporting purposes. It helps to find the amount of revenue or the units required to cover the product’s total costs. Break-even points in [...]

By |2024-01-05T13:42:43+01:00October 12th, 2023|Bookkeeping|0 Comments

5 3 Explain and Compute Equivalent Units and Total Cost of Production in an Initial Processing Stage Principles of Accounting, Volume 2: Managerial Accounting

That is, if the prime costs are the set of expenses that are directly related to the manufacture of a product or the provision of a service, in this case the conversion costs are part of the manufacturing costs. This means that in a company that dedicates its main activity to the provision of services [...]

By |2024-01-12T17:48:45+01:00October 4th, 2023|Bookkeeping|0 Comments

Conversion cost Management online

Operations managers use conversion costs to help identify waste within the manufacturing process. TThese direct labor costs are the same ones used in calculating the prime cost in manufacturing. You can continuously improve your conversion rate and therefore reduce your cost per conversion by adjusting when you show your ads. You may get the best [...]

By |2024-01-12T17:48:44+01:00October 4th, 2023|Bookkeeping|0 Comments

How Gross Wages Are Calculated

Alternatively, you can calculate your gross income as (1) your monthly salary before taxes or (2) the number of hours you will work in a given month multiplied by your hourly pay rate. Net pay, or take-home pay, is the amount of an employee’s paycheck after deductions are taken out of their gross pay. Deductions [...]

By |2024-01-15T17:54:55+01:00September 12th, 2023|Bookkeeping|0 Comments