December 25, 2024 What is Standard Costing? Further, some of the finished aprons don’t pass the final inspection due to occasional defects not detected as the aprons were made. Note that the entire price variance pertaining to all of the direct materials received was…
November 28, 2024 What is Working Capital? Easy Formula, Ratio & Definition Working capital is calculated from the assets and liabilities on a corporate balance sheet, focusing on immediate debts and the most liquid assets. Calculating working capital provides insight into a company’s short-term liquidity and efficiency. A company…
September 30, 2024 Master Incurred Definition Accounting with Examples For example, if your business receives $10,000 worth of goods from a supplier who expects payment within the next month, the business has incurred a $10,000 expense. When you incur a debt, your creditor, lender or service…
September 27, 2024 How to Calculate Duration and Convexity of a Bond with Excel There are several formulas for calculating the duration of specific bonds that are simpler than the above general formula. Note that modified duration is always slightly less than duration since the modified duration is the duration divided…
September 16, 2024 What Is Blue Collar? Definition and Job Examples These laws vary by jurisdiction but aim to ensure fair treatment and working conditions for all workers. Recent updates in labor laws have strengthened safety regulations, reducing workplace injuries and improving overall job safety. In essence, blue-collar…
September 2, 2024 Suspense Account: Definition, Example, Creation, and Close Notes with PDF Trial Balance This approach helps prevent financial misstatements and compliance issues. Suspense accounts are temporarily classified as a balance sheet account, usually under the heading of current assets or current liabilities depending on the normal balance. Consequently at the…
August 26, 2024 CIP Construction In Progress Accounting; What Businesses Need To Know Choose a template with the colors, fonts & text accounting sizes that are appropriate for your industry. – Managing CIP accounts require proper knowledge, experience, and advanced bookkeeping tools. That’s another reason why it is better to…
August 19, 2024 Small Business Tax Calculator 2024-2025 Secondly, when these post-tax profits are distributed among shareholders as dividends, the recipients must again pay tax on their personal returns. For instance, if a company like Money Makeover Inc. made a profit of $175,000 after all…
August 14, 2024 Gearing ratio: definition, types & calculation method A high gearing ratio means the company has a larger proportion of debt versus equity. Conversely, a low gearing ratio means the company has a small proportion of debt versus equity. In such instances, companies might have to work harder to reduce…
August 6, 2024 Differences Between Bookkeeping and Accounting It encompasses the summarization, analysis, and reporting of financial data. Accountants use the data recorded by bookkeepers to produce financial statements, conduct financial forecasting, and provide insight into financial performance. They also ensure that business operations comply…