Bookkeeping

What is work in process inventory? Definition, formula and benefits for your business

Whether you are a manufacturer, production manager, or simply interested in learning more about inventory management, this article will provide you with the information you need about WIP inventory. I...

Cash versus accrual accounting: what is the difference? Sage Advice US

Listed below are some of the key differences between cash and accrual accounting. If the company receives an electric bill for $1,700, under the cash method, the amount is not recorded until the ...

What Are Pro Forma Financial Statements?

Pro-forma earnings describe a financial statement that has hypothetical amounts, or estimates, built into the data to give a “picture” of a company’s profits if certain nonrecurring ...

Cost-Benefit Analysis POLARIS Policy, Performance, and Evaluation

In many models, a cost-benefit analysis will also factor the opportunity cost into the decision-making process. Opportunity costs are alternative benefits that could have been realized when choos...

9 1 Overview: accounting for goodwill postacquisition

(ii) If the gain recognition election had not been made, S would have taxable income of $30,000 for 2001 and a tax liability of $4,500. If the gain were not taken into account, S would have no tax lia...

The Top 8 Bookkeeping Mistakes Massage Therapists Make

Capture customer information such as name, city, visit history, birthday, anniversary or other special life events to support marketing campaigns and segment customers by preferences and spending leve...

Cost of goods sold journal entry

This is posted to the Cash T-account on the credit side beneath the January 18 transaction. This is placed on the debit side of the Salaries Expense T-account. In the last column of the Cash ledger ac...

Liability Accounts: List and Explanation

Current liabilities could also be based on a company’s operating cycle, which is the time it takes to buy inventory and convert it to cash from sales. Current liabilities are listed on the balan...

Journal Entry For Voided Check

Content Select A Country How Do You Void A Check In Quickbooks? How To Void A Check And When To Use One? How Do I Get A Voided Regions Check? When void On A Check Doesnt Mean A Thing: Money Matters Th...

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