Bookkeeping

Straight-line depreciation is efficient accounting for assets used consistently over their lifetime, but what about assets that are used with less regularity? The units-of-production depreciation method bases depreciation on the actual usage of the asset, which is more appropriate when an asset’s life is a function of usage instead of time. For example, this method …

4 4 When Should a Company Capitalize or Expense an Item? Principles of Finance Leer más »

Straight-line depreciation is efficient accounting for assets used consistently over their lifetime, but what about assets that are used with less regularity? The units-of-production depreciation method bases depreciation on the actual usage of the asset, which is more appropriate when an asset’s life is a function of usage instead of time. For example, this method …

4 4 When Should a Company Capitalize or Expense an Item? Principles of Finance Leer más »

Content How to buy billing and accounting software for a mid-size law firm thoughts on “Using Quicken 2011 for Trust Accounting” Our Services You also can add a fractional CFO to help with financial projections, cash management, business analytics, and budgeting. Plus, if you’ve been neglecting your books, inDinero offers catch-up bookkeeping. We at Cogneesol can …

The Importance of Numbers: Why Attorneys Should Care About Accounting Leer más »

Content Wave Support for Multiple Businesses What do you need from your accounting software? Best Accounting Software For Partnerships ( Oracle NetSuite Accounting Software: Best for Advanced Features What Do Small Business Accounting Services Do? Once you complete a customer record and start creating invoices, sending statements, and recording billable expenses, you can usually access …

Best Accounting Software For Small Business 2023 Leer más »

This type of discount does not appear in your accounting records or on your financial statements specifically. Trade discount refers to the decrease in list price in the name of discount, allowed by a supplier to the consumer while selling the product usually in greater quantities. Trade discounts are given to the concerned consumer to …

Trade Discount Vs Cash Discount Journal Entry Leer más »

Content Gross Margin What’s the Difference Between a High and Low Gross Profit Margin? Cost of goods sold How to use gross margin to evaluate a company Exclusions from gross income: U.S. Federal income tax law How Do Gross Profit and Gross Margin Differ? GMROII in the Retail Industry Gross profit as a percentage / …

How Do Gross Profit and Gross Margin Differ? Leer más »

This, in turn, can help people make better decisions regarding product & service pricing, product lines, and sales commissions or bonuses. You need to work out the contribution margin per unit, the increase in profit if there is a one unit increase in sales. A surgical suite can schedule itself efficiently but fail to have …

Contribution Margin Ratio CM Ratio Definition, Formula, Example Leer más »

This more complete picture helps users of financial statements to better understand a company’s present financial health and predict its future financial position. An accrued expense, also known as accrued liabilities, is an accounting term that refers to an expense that is recognized on the books before it has been paid. Accrual accounting is the …

Difference Between Accrued Income & Accrued Revenue Leer más »

Generally speaking, these types of accounts will have higher interest rates than regular checking or savings accounts since they represent a longer commitment from the customer. These accounts are typically characterized by their wide range of features and services, such as online banking access, overdraft protection, direct deposits, bill payment options, and more. With permanent …

What is a temporary account? Leer más »