Purchase Journal Entry in Accounts

Content How often should I update my purchases journal? Asset depreciation Cost of goods sold journal entry Getting New Equipment? You’ll Need to Make a Purchase of Equipment Journal Entry Classification of Fixed Assets in Accounting 1.2 Setting Processing Options for Create Journal Entries (P01P Enter depreciation on the books for the total sum of […]Continue reading

Depreciation Tax Shield Depreciation Tax Shield in Capital Budgeting

Content Tax Shield vs Tax Evasion Wrap-Up: Depreciation Tax Shield How a Tax Shield Works Depreciation What is a Tax Shield? How does a tax shield work? What Is a Tax Shield In Capital Budgeting? As you can see above, taxes are $20 without Depreciation vs. $16 with a Depreciation deduction, for a total cash […]Continue reading

Virtual Accounting And Online Bookkeeping Services: 100% Remote Access

Content Hiring Services Why Choose Remote Quality Bookkeeping? Remote Staff Accountant – Multiple Locations Remote Accounting Bookkeeping Jobs Remote Full-Service Bookkeeping (Weekly, Bi-Weekly, or Monthly) Say Hello To Remote Bookkeeping. Some business owners are able to make this work, but it still takes effort. A dedicated team of professionals committed to doing the job right […]Continue reading

How to Calculate Overhead Costs in 5 Steps

Content What are the benefits of using the total manufacturing cost formula? Project Cost Software Learn How NetSuite Can Streamline Your Business Eliminate the source of product defects and reduce your cost of quality with Tulip Remember to multiply incrementally instead of adding 10 percent to your current figure to ensure accurate numbers. Compare your […]Continue reading

Understanding an Income Statement Definition and Examples Bench Accounting

Content What Goes on an Income Statement? What is a Balance Sheet? Calculate the Gross Margin How to Read & Understand an Income Statement Before you start crunching numbers, decide if you’re going to look at your business’s profitability from a monthly, quarterly, biannual or annual perspective. A cash flow statement, for example, breaks down […]Continue reading

Difference Between Financial Accounting And Managerial

Content Timing Of Transactions What Is A Manufacturing Cost Controller? Topics Covered In Financial Accounting Managerial Accounting Financial And Managerial Accounting The Purpose Of Accounting In managerial accounting, reports are run much more frequently and tend to focus on day-to-day operations. Managerial accounting typically runs a variety of operational reports throughout the month, while financial […]Continue reading

Provision For Depreciation Account

Content What Would Be The Adjusting Entry To Record Depreciation Each Period? Initial Valuation: The Initial Cost Of An Asset How Does Depreciation Affect Balance Sheet? Recording Accounting Depreciation In Books Accounting Treatment Of Depreciation Entire Value Of The Asset Is Depreciated: Example Of A Loss On Sale Of An Asset The Removal Of Depreciated […]Continue reading

Understanding Encumbrance Accounting & Its Process

Content Encumbrance entry for agencies using USAS only Misclassification of encumbrances or payables in USAS Foreign Travel Download a free copy of “Preparing Your AP Department For The Future”, to learn: The purpose could be limited to a specific item, such as equipment, or more generally to a category of expenditure or a program. Fiscal […]Continue reading