However, many consignment shops are willing to negotiate, particularly for larger-ticket items, such as artwork, that offer greater revenue potential. Depending on the consignment shop and the item being sold, the seller may concede 25% to 60% of the sales price. Read more
On an invoice, net 15 means that full payment is due 15 days after the invoice date, at the very latest. How you resolve this misunderstanding will determine whether you retain that client. That’s why it’s important to precisely define when. Read more
The applications vary slightly from program to program, but all ask for some personal background information. If you are new to HBS Online, you will be required to set up an account before starting an application for the program of your. Read more
For example, if a person wants a $1,000 refrigerator, cash is the asset that can most easily be used to obtain it. If that person has no cash but a rare book collection that has been appraised at $1,000, they are. Read more
Such pro-forma invoice is issued by the consignor to consignee regarding the goods before the sale actually takes place. Depending upon the arrangement with the consignee, the consignor may pay a commission to the consignee for making the sale. Due to. Read more
When a company earns money, it records revenue, which increases owners’ equity. Therefore, you must credit a revenue account to increase it, or it has a credit normal balance. Expenses are the result of a company spending money, which reduces owners’. Read more
The principles of accounting conservatism provide guidance for inventory valuation. The principles require a company to use historical cost or replacement value when estimating the reporting value for inventory. They are also applicable in accounting standards, such as casualty losses and. Read more
Both unsecured and secured personal loans can be recourse debts where the borrower assumes all risk and is personally liable. After liquidating the collateral, any balance that remains is known as a deficiency balance. While potential borrowers may find it attractive. Read more
That retirement money we added back to your paycheck earlier goes into this category, too. After paying those debts, any leftover money can go straight to your savings account. When filing your federal and state income tax forms, you’ll use your. Read more
Do you routinely analyze your companies, but don’t look at how they account for their inventory? For many companies, inventory represents a large, if not the largest, portion of their assets. As a result, inventory is a critical component of the. Read more