Product Cost vs Period Cost: Difference between Product and Period Costs
When the product is sold, these costs are transferred from inventory account to cost of goods sold account and appear as such on the income statement of the relevant period. For example, John & Muller company manufactures 500 units of product X in year 2022. Out of these 500 units manufactured, the company sells only […]
QBSE Apps on Google Play
If a Qt path is given, these additional profiles will be suitable for building Qt binaries for the respective architecture, if the Qt installation has support for it. I’ll explain why the QuickBooks Self-Employed (QBSE) mobile app for iOS is now unavailable. If you’ve already downloaded the APK file from another source, simply open LDPlayer […]
Predetermined Overhead Rate Formula, Explanation and Example
This information is used to set pricing, evaluate profitability, and make informed business decisions. Understanding these nuances is crucial in determining an accurate Plantwide what is payroll accounting how to do payroll journal entries Overhead Rate, as it directly impacts the pricing of products and services. On the other hand, Departmental Overhead Rate offers a […]
Cash Flow Statement CFS Definition, Calculation, & Example
The CFS also sheds light on a company’s investment strategies and financing activities. Stakeholders can gauge how effectively resources are allocated toward growth opportunities, such as purchasing equipment or expanding facilities, by examining cash flows from investing activities. Meanwhile, cash flows from financing activities reveal how a company manages its capital structure, including debt repayment […]
Monday Morning Accounting News Brief: Crikey, Another Tax Scandal; Deloitte Is Bleeding Contracts 3 31.25
Companies with substantial short-term debt obligations may face challenges refinancing or rolling over debt, especially if credit markets tighten or credit ratings are downgraded. On the other hand, if a company intends to close operations, financial statements will reflect such an intent—the company must disclose it. Unless disclosed, it is assumed by default that the […]
Hotel Invoice Sample Guest Bill Guest Folio Template Resorts
And as a bonus, we will share quick tips for invoicing for hotel businesses too. Vencru offers a simple and free hotel invoice template that is designed to help you properly invoice your guests. This template is useful because it allows clear communication on the drivers to the charges made during your guest’s stay. Don’t […]
What is a balance sheet: Definition & examples for 2025
Your balance sheet shows what your business owns (assets), what it owes (liabilities), and what money is left over for the owners (owner’s equity). The balance sheet (also known as the statement of financial position) reports a corporation’s assets, liabilities, and stockholders’ equity as of the final moment of an accounting period. For example, a […]
Conversion Costs: Formula, Definition & Examples
They can also compare the conversion costs and per unit costs of different products, departments, or periods, and identify the areas of improvement or inefficiency. Conversion cost is a useful tool for cost accounting and management, and it can help to improve the performance and profitability of any business. The total of direct labor costs […]
What is the Accounting Formula: Assets, Liabilities & Equity
The claims to the assets owned by a business entity are primarily divided into two types – the claims of creditors and the claims of owner of the business. In accounting, the claims of creditors are referred to as liabilities and the claims of owner are referred to as owner’s equity. The accounting equation helps […]
Arun Mago CPA PLLC Financial & Taxation Firm Cedar Park, TX Sulekha
Arun Mago CPA PLLC DBA Mago Tax Services is a professional accounting and finance institution located at 1464 East Whitestone Boulevard in Cedar Park, Texas, United States. Our team of experts is dedicated to providing top-notch financial services, including tax preparation, bookkeeping, and financial planning. With years of experience and a commitment to excellence, we […]