Once you have your financial data, the next step is to identify the variances by comparing the actual figures against the budgeted figures. For instance, if your variable manufacturing costs are higher than expected without a corresponding increase in revenue, you have an unfavorable cost variance. The best solution for avoiding budgeting variances is careful,… Read More
How much does a bookkeeper cost in 2023?
by • August 12, 2020
Our bookkeeping price packages are varied to give you several options. These services are customized to the exact needs of business owners. The on-boarding or Starter package pricing starts at $500/month, the Standard package is priced at $750/month, and the Pro package is priced at $1000/month. Starting at $299 our expert bookkeepers will help equip… Read More
Overdraft Explained: Fees, Protection, and Types
by • July 21, 2021
However, if any of a company’s accounts are in a cash overdraft situation at the end of its reporting period, it will need report the amount of the overdraft as a short-term liability. You generally are charged a separate fee for each purchase in excess of your account balance, though different institutions may handle their… Read More
Restrictive Endorsement Law and Legal Definition USLegal, Inc
by • February 7, 2023
Restrictive endorsements do not necessarily guarantee the end of negotiation, though. Perhaps an inattentive teller may not respond to the restriction properly, or perhaps the check might be deposited into another account other than that of the intoned payee. Such cases are more common when business accounts are involved, or when the payee has many… Read More
How to Determine Salvage Value If You Want to Keep Your Totaled Vehicle After an Accident
by • March 2, 2020
While the company possesses a unique product, its success hinges on maintaining a competitive edge and capturing a substantial market share. However, numerous well-established firms are also developing similar products and possess superior financial resources, brand recognition, and market presence. An arbitrary value assigned by the company to each share of stock; it is used… Read More
Revenue vs Income Difference, Calculation, Examples
by • October 15, 2020
When investors and analysts speak of a company’s earnings, they’re talking about the company’s net income or the profit. Conduct regular financial analysis to track key financial ratios, such as gross profit margin, net profit margin, and return on investment. Analyze trends and variances to identify areas for improvement and make data-driven decisions. Measures of income… Read More
Financial Statements: Balance, Income, Cash Flow, and Equity
by • May 16, 2023
Balance sheets can be used with other important financial statements to conduct fundamental analysis or calculate financial ratios. The operating activities on the CFS include any sources and uses of cash from running the business and selling its products or services. Cash from operations includes any changes made in cash accounts receivable, depreciation, inventory, and accounts… Read More
Billionaire Carl Icahn’s Top Stock Offers a Mind-Boggling Dividend Yield of 22% and Wall Street Thinks It Will Skyrocket 45% in 2024 The Motley Fool
by • March 5, 2020
The common stock dividend distributable is $50,000 — calculated by multiplying 500,000 x 10% x $1 — since the common stock has a par value of $1 per share. When the small stock dividend is declared, the market price of $5 per share is used to assign the value to the dividend as $250,000 —… Read More
Other Comprehensive Income: What It Means, With Examples
by • December 8, 2023
AOCI represents accumulated other comprehensive income and is stated at a point in time. OCI represents current year gains and losses that were not recognized in the income statement. In March 2018 the Board published its Conceptual Framework for Financial Reporting. A common misunderstanding is that the distinction is based upon realised versus unrealised gains…. Read More
Accounting Principles Explained: How They Work, GAAP, IFRS
by • March 17, 2020
The reliability principle states that you should only record those transactions for which you can obtain objective evidence (such as a supplier invoice). If there is no evidence of a transaction, you would have a difficult time proving it to an outside auditor. Sometimes, transactions for which there is insufficient evidence will instead be documented… Read More