Use of the straight-line method is highly recommended, since it is the easiest depreciation method to calculate, and so results in few calculation errors. Depreciation expense is the recognition of the reduction of value of an asset over its useful life. Multiple methods of accounting for depreciation expense exist, but the straight-line …
Tax accountants and auditors also use this report to prepare tax returns and begin the audit process. Multi-period and departmental trial balance reports are available as trial balance well. Sage 50cloudaccounting offers three plans; Pro, which is $278.98 annually, Premium, which runs $431.95 annually, and Quantum, with pricing available from …
Businesses have a lot of expenses to factor into the cost of a unit including things like employee salaries, equipment upgrades, insurance and rent. This example has also excluded fixed costs since production and design were both outsourced . You’re also theoretically not paying rent on a spare bedroom you already own. The cost per […]
Fraud audits are usually conducted on a proactive basis, and should not be confused with fraud investigations which are conducted after the fact, and possibly by forensic accountants. Accounting knowledge and expertise– Investigations and analysis are major components of forensic accounting, as are conventional accounting practices and …
Let’s take a look at this concept with a bit more detail as well as look at some leverage ratio examples. If you have shareholders, you will need to multiply the number of outstanding shares by the current price of the stock. Applicant Tracking Choosing the best applicant tracking system is crucial to having a […]
Now that you know the difference between fixed costs and variable costs, let’s look at how you can calculate your total fixed costs. Now that you know that fixed costs are what you’re required to pay regardless of sales or production, what are the costs that fluctuate as your business grows? Fixed costs will stay […]