A prepayment of the cost of ads that will air in the future should be recorded in a current asset account such as Prepaid Advertising. When the ad is aired, the amount must be transferred from Prepaid Advertising to Advertising…
6 5 Compare and Contrast Variable and Absorption Costing Principles of Accounting, Volume 2: Managerial Accounting
These differences are due to the treatment of fixed manufacturing costs. Under absorption costing, each unit in ending inventory carries $0.60 of fixed overhead cost as part of product cost. Therefore, ending inventory under absorption costing includes $600 of fixed…
What Are Columns and Rows?
Essential operations like inserting, renaming, moving, and copying sheets streamline workflow. Hiding sheets offer privacy, and cell protection safeguards data integrity. Mastering these functions enhances free google drive invoice templates productivity, making Excel a versatile tool for data management and…
benchmarking in business
Start with processes that are easy to benchmark to get some quick wins under your belt, but once you have done this, benchmark your core processes. It is good to know that your accounting costs are competitive, but in reality,…
Bookkeeping basics: Small business guide
You must use a double-entry accounting system and record two entries for every transaction. When setting up a small business accounting system, you need to choose a method of recording financial transactions. There are basically two methods of recording income…