General Ledger Accounting
This is done because you do not want to understate any expenses in your financial statements for the next 12 months. Say, for instance, you were overcharged for an item…
What Is Depreciation: Definition, Types, and Calculation
If the vehicle were to be sold and the sales price exceeded the depreciated value (net book value) then the excess would be considered a gain and subject to depreciation…
The Pros & Cons of Variable Costing Accounting
Auditors and financial stakeholders will require it for external reporting. Small businesses may also be required to use absorption costing for their tax reporting depending on their type of business…