Categoria: Bookkeeping

What is Work in Process WIP Inventory? Definition, Formula Orderhive

Content What Are the Implications of Using LIFO and FIFO Inventory Methods? Browse by team type Dictionary Entries Near work in process The Impact on Financial Statements When Switching to LIFO From FIFO What is work in process inventory? You’re in the business of custom, hand-made goods, and you acquire raw materials to assemble your […]

Which of the following budgets are prepared before the sales budget A A B B C C

Content Why are budgets useful in the planning process? Use a CRM for improved sales predictions The financial budget process includes: Choice “a” is correct. The cash budget is done after all budgets have been prepared. Choices “c”, “b”, and “a” are incorrect. They are all examples of information a cash budget provides. Preparation of […]

For each item below, indicate whether a debit or a credit applies a Decrease in Accounts Payable b. Decrease in Land c. Increase in Retained Earnings d. Increase in Unearned Revenue e. Decrease in Interest Payable f. Increase in Prepaid Insurance g. Inc

Content Salvage Value in Depreciation Calculations Is land a liquid asset? Buying an asset on account How Do You Handle Accounting for Deposits on Fixed Assets? How Debits and Credits Work The main difference is that invoices always show a sale, where debit notes and debit receipts reflect adjustments or returns on transactions that have […]

The Accounting Equation

Content A detailed look at the types of accounts—and their sub-accounts 3 The Basic Accounting Equation Long-Term Liabilities The Language of Business Shareholders’ Equity in the Accounting Equation Say you make a $200 sale to a customer who pays with credit. Through the sale, you increase your Revenue account through a credit. And, increase your […]

What is a Full-Time Equivalent FTE? Definition Meaning Example

Content Full Time Equivalent Calculator Full-Time Equivalent (FTE) Definition Schedule a Demo ! Have you ever heard of the benefits of EOR? How to calculate full-time equivalents Section 2 of 3:Example FTE Calculation Let’s say you have four full-time employees, three part-time employees working 20 hours a week for 30 weeks per year, and one […]