What is Job Order Costing? Definition, Importance, Formula

Thursday, 24 October 2024 by admin

In this scenario, job order costing is a less efficient accounting method because it costs more to track the costs per eight ounces of iced tea than the cost of a batch of tea. Overall, when it is difficult or not economically feasible to track the costs of a product individually, process costing is typically

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Accounting & Bookkeeping Services for Construction Companies

Thursday, 26 September 2024 by admin

Practices like encryption, multi-factor authentication (MFA), and secure storage are essential to protect against unauthorized access. Equally crucial is adhering to privacy regulations, such as Republic Act and GDPR, which outline how personal data must be collected, used, and protected. These efforts safeguard your organization from cyber threats and ensure regulatory compliance to protect both

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QuickBooks Online vs Xero 2024 Comparison

Monday, 27 May 2024 by admin

FreshBooks charges $17 per month and QuickBooks charges $30 per month). However, the best option and price point will depend on the specific capabilities and features you are looking for. Both QuickBooks Online and Xero are good accounting solutions, but the right software is going to depend on your company’s budget and feature needs. Which

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Using The Undeposited Funds Account in QuickBooks

Tuesday, 28 November 2023 by admin

I’ve removed the original “fixes” and now I’m back to a $50 item showing up in “Record Deposits” that I need to remove. I’d be glad to help share additional information about clearing up your undeposited funds account. Both the Undeposited Funds and Petty Cash accounts are used to record cash related transactions. Since, the

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Indian Outsourcing Companies: Choosing the Right Partner for Your Projects

Monday, 31 July 2023 by admin

It offers a comprehensive portfolio of services to its customers, a strong commitment to sustainability along with good corporate citizenship. Tech Mahindra is a leading provider of digital transformation, consulting, and business process services, serving clients in industries such as telecommunications, healthcare, and manufacturing. Tech Mahindra has a strong presence in the US and Europe,

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Book Value Per Share BVPS: Definition, Calculation & Importance

Thursday, 06 July 2023 by admin

On the other hand, if XYZ uses $300,000 of the earnings to reduce liabilities, common equity also increases. Book value per share (BVPS) measures the book value of a firm on a per-share basis. BVPS is found by dividing equity available to common shareholders by the number of outstanding shares. Equity investors often compare BVPS

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Production Volume Variance: Definition, Formula & Example

Monday, 26 June 2023 by admin

And, of course, this analysis usually occurs during the month-end close process, when things are most hectic. Although it would be nice if actual results during the year matched what we initially planned, we all know that business changes are typical after budgets are established, leading to variances and necessary explanations. If the standards upon

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Retained Earnings Explained Definition, Formula, & Examples

Wednesday, 17 May 2023 by admin

If you’re looking at a company’s balance sheet to decide whether to invest, consider retained earnings alongside other figures. Retained earnings are important for both the business and its investors, and they can be beneficial for both parties. They’re indicative of a company’s financial health and its ability to reinvest in growth opportunities. Retained earnings

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Construction Bookkeeping Services: Top 5 Essential Reasons Why

Monday, 15 May 2023 by admin

Our specialized knowledge has helped many professionals thrive, and we’re ready to help you too. We’d like to provide you with an opportunity to get to know our staff as well as our firm’s values before you come to see us. Scott’s expansive background in the industry has developed his forward-thinking mentality and his expertise

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Entries Related to Notes Payable Financial Accounting

Tuesday, 02 May 2023 by admin

This blog will help you understand what notes payables are, who signs the notes, examples, and accounting treatment for the company’s notes payable. In the preceding entries, notice that interest for three months was accrued at December 31, representing accumulated interest that must be paid at maturity on March 31, 20X9. The cash payment included

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