Bookkeeping

The statement of cost of goods manufactured supports the cost of goods sold figure on the income statement. The two most important numbers on this statement are the total manufacturing cost and the cost of goods manufactured. Be careful not…
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A business must pay this regardless of how many goods it makes and sells. Conversely, purchase orders may decline during off-seasons and slower economic times, ultimately pushing down labor and manufacturing costs accordingly. In addition,…
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If the prepayment covers a longer period, then classify the portion of the prepaid insurance that will not be charged to expense within one year as a long-term asset. On the difference between bad debt and doubtful debt July 1, the company…
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This means that, in case the burn needs to die down, strategies to reduce it can come from a number of different angles. Burn rate calculation is not quite as tough as Fermat's Last Theorem, but a robust understanding of both the core…
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Though small businesses aren't required to follow the same rules, doing so can help ensure a higher level of consistency. For a small business, accounting involves tracking money flow in various forms, including operating expenses (e.g.,…
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To calculate the break-even point for hotel occupancy, you need to consider several factors. Firstly, you have to identify and calculate all the fixed costs, including rent, mortgage payments, property taxes, insurance, and salaries. These…
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However, your average Wall Street analyst would have settled for a net loss of $0.10 per share on sales near $64.8 million. Yes, the break-even point considers all revenue streams, including non-room revenue such as restaurant sales, spa…
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Lastly, e-commerce stores benefit from outsourcing supply chain management to manage warehouse and delivery processes. Onshore outsourcing or onshoring, meanwhile, is preferred by firms looking to delegate their services within their…
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Onshoring does not offer much savings as that of offshoring or nearshoring. However, clients prefer this as a way to maintain their branding and satisfy their local markets. Business process outsourcing typically operates from developing…
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Another 11% (28,500) worked in professional, scientific, and technical services; 10% (26,400) in government; 7% in manufacturing (18,600); and another 7% in healthcare and social assistance (17,100). The BLS expects the job market for top…
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