Category: Bookkeeping

Administrative costs may include expenditures for a company’s accounting department, human resources department, and the president’s office. Examples of product costs are direct materials, direct …

It will be done by debiting the revenue accounts and crediting the income summary account. After passing this entry, all revenue accounts will become zero. …

At FreshBooks, we know that crunching numbers isn’t your forte – and that you want to know the financial status of your business at a …

Periodic and perpetual inventory systems are different accounting methods for tracking inventory, although they can work in concert. Overall, the perpetual inventory system is superior …

This straightforward relationship between assets, liabilities, and equity is the foundation of the double-entry accounting system. Equity is an important concept in finance that has …

The difference between the unadjusted trial balance and the adjusted trial balance is the adjusting entries that are required to align the company accounts for …

The variance is calculated the same way in case of both marginal and absorption costing systems. Specifically, fixed overhead variance is defined as the difference …

Compare enrolled agent salaries for individual cities or states with the national average. The highest-paying cities for enrolled agents are Green Bay, WI, San Francisco, …

The Completed Contract Method delays the recognition of revenue and expenses until a construction project is either fully or substantially completed. This method is often …

In essence, the shorter the payback an investment has, the more attractive it becomes. Determining the payback period is useful for anyone and can be …