The “rate” variance designation is most commonly applied to the labor rate variance, which involves the actual cost of direct labor in comparison to the standard cost of direct labor. The rate variance uses a different designation when ap... Read more
In regards to GAAP, once you have identified inventory that you cannot sell, you must write this inventory off as an expense. Assuming no receipt of payment for the inventory, you will debit a cost of goods sold account and credit. Read more
At its heart, good feedback comes from a place of genuinely wanting to help someone grow. When you schedule meetings, respect everyone else’s time by showing up prepared and on time . Be responsible for the success of your team and. Read more
Forecasters perform research that uses empirical results to gauge the effectiveness of certain forecasting models. However research has shown that there is little difference between the accuracy of the forecasts of experts knowledgeable in the confli... Read more
Spend any time in the world of business and you'll eventually use both purchase orders and invoices. Small businesses and larger companies alike rely on these financial documents as part of their purchasing and procurement procedures. If you have cus... Read more
It is essential to understand this concept because it indicates how much one can expect that survey results actually reflect the true view of the overall population. It should be kept in mind that a survey is done using a smaller. Read more
The wrong course could mean the difference between you passing the first time and failing several times. The average CPA makes about $1M more than his or her non-certified counter part over the course of his or her career. Depending on. Read more
Depreciation affects your bottom line, your tax bill, and the value of your business. Those are three good reasons to learn what depreciation is and how it works. Depreciation is an allocation process in order to achieve the matching principle. It. Read more
All three of the deductions are considered contra accounts, which means that they have a natural debit balance ; they are designed to offset the sales account. But they’re not the only sales metrics you should analyze and monitor regularly. You... Read more
It's much simpler to stick to expense so you only have to make one entry. In casual conversation, raw materials and supplies for your company can mean the same thing.But things can get tricky when dealing with office supplies, office expenses,. Read more
