Categoria: Bookkeeping

This information is crucial for making informed business decisions, identifying potential risks or opportunities, and maintaining financial stability. We recommend reconciling your current, savings, and credit card accounts every month.

Inventory turnover ratio (ITR) is an activity ratio which evaluates the liquidity of a company’s inventory. It measures how many times a company has sold and replaced its inventory during

Once your bookkeeper receives all the necessary documentation, they’ll typically complete your cleanup within 30 days. In some cases, your cleanup may take longer depending on timeliness of documentation and

Online services may offer one-on-one meetings, but you might have to pay more. If you want a higher level of support in the future, such as chief financial officer or

Journal entries often use the language of debits (DR) and credits (CR). A debit refers to an increase in an asset or a decrease in a liability or shareholders’ equity.

Product cost refers to the costs incurred in manufacturing a product intended to be sold to customers. These costs include the costs of direct labour, direct materials, and manufacturing overheads.

When a factory considers installing pollution control equipment, the incremental cost may seem high. However, the long-term benefit—cleaner air, healthier communities—justifies the investment. In project management, scope creep—the gradual expansion

There are different levels of the diploma, and once you’ve achieved Level 4 you’ll be able to offer services as an accountant. The higher up you go and the more

This means that for every dollar in equity, the firm has 76 cents in debt. This figure means that for every dollar in equity, Restoration Hardware has $3.73 in debt.

The payment columns may also be more specific to the nature of the business. For example, some businesses may only need one column to record cash amounts, whereas others may