This target may be different for different projects because higher risk corresponds with higher return thus longer payback period being acceptable for profitable projects. For lower return projects, management will... read more →
However, if you are an e-commerce or product-based business that needs advanced inventory and project-tracking features, you should invest in Xero. Despite its limited reporting what does it mean to... read more →
It is quite possible that unfavorable direct labor efficiency variance is simply the result of, for example, low quality material being procured or low skilled workers being hired. Management should... read more →
Net liquid assets is a term used to define the immediate liquidity position of a company. It is calculated as the difference between liquid assets and current liabilities. Examples of... read more →
Other than the retained earnings account, closing journal entries do not affect permanent accounts. The balance in dividends, revenues and expenses would all be zero leaving only the permanent accounts... read more →
Business owners can utilize promissory notes as a beneficial financial instrument to grow their company and as a form of investment. The following entry is required at the time of... read more →
Many people think that forensic accounting is only for big businesses or for solving crimes, but the truth is that this type of accounting can be used in many different... read more →
Find out the essential aspects and functions involved in managing funds effectively. This makes fund accounting much easier because you have a running list of every donation made to a... read more →
One of the easiest ways to figure out profitability is by using the accounting rate of return. There are a number of formulas and metrics that companies can use to... read more →
You can use a few methods to create receipts, such as “make your own receipts”, which are listed below. Payment methods can be crucial in keeping track of all the... read more →