Bookkeeping

During the year, you made substantial improvements to the land on which your rubber plant is located. You check Table B-1 and find land improvements under asset class 00.3. You then check Table B-2 and find your activity, producing rubber products, under asset class 30.1, Manufacture of Rubber Products. Reading the headings and descriptions under…

Examples of variable costs include raw materials, labor costs, and shipping expenses. Variable costs are important in calculating the break-even point, as they represent the additional expenses that must be covered for each unit of production or sale. At its core, the BEP represents the point at which a company’s total revenue matches its total…

In other words, an item is valued at the exchange price at the date of acquisition and shown in the financial statements at that value or an amortized portion of it. For accounting purposes, business transactions are normally measured in terms of the actual prices or costs at the Accounts Receivable Outsourcing time the transaction…

The multistep income statement gives far more detail than the single step statement, but it can also be more misleading if not prepared correctly. For instance, management might shift expenses out of cost of goods sold and into operations to artificially improve their margins. It’s always important to view comparative financial statements over time, so…

The multistep income statement gives far more detail than the single step statement, but it can also be more misleading if not prepared correctly. For instance, management might shift expenses out of cost of goods sold and into operations to artificially improve their margins. It’s always important to view comparative financial statements over time, so…

With today’s technology, there is no need to hire an in-house bookkeeper which in many instances will be less skilled than our accounting professionals. Our Accountants and Bookkeepers use the highest level of security and encryption technology to ensure your books and records are 100% secure. We check if each firm is competent in their…

This guide will equip you with the essentials of church accounting, helping you manage your ministry’s finances with transparency and responsibility. A budget is what we like to call a future projection report. chart of accounts for churches You create a budget, typically before you actually spend the money. Unlike balance sheet reports and P&L’s…