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May 19, 2022

Charles Lutwidge
How to Balance Purchase Ledger

How to Balance Purchase Ledger

A well-thought accounting system is vital to any business. That’s why it’s critical to understand all components of an accounting system. One of such components is the purchase ledger. We have prepared an article for our readers to disclose the purchase..

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Articles

May 18, 2022

Charles Lutwidge
Total manufacturing cost: What is it and how to calculate it

Total manufacturing cost: What is it and how to calculate it

Total manufacturing cost is the amount of money a company spends on its manufacturing operations or how much it generally costs to produce goods that customers will buy. There are three different cost categories to calculate total manufacturing costs: direct material;..

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Articles

May 13, 2022

Charles Lutwidge
What Is the Difference Between Gross Sales and Net Sales

What Is the Difference Between Gross Sales and Net Sales

These two terms are primarily used to reflect the financial performance of an organization. Gross and net sales help identify the sales made by a business. They provide a complete analysis of a company’s sales, calculated over a specific period. Most..

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Articles

May 12, 2022

Charles Lutwidge
What is Full Time Equivalent (FTE)

What is Full Time Equivalent (FTE)

The full-time equivalent is an arithmetic figure for resource management. It specifies the number of fictitious full-time positions with the same work capacity for several real positions with different time models. The full-time equivalent makes it possible to compare the employee..

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Articles

May 11, 2022

Charles Lutwidge
Markup vs Margin: What’s the difference?

Markup vs Margin: What’s the difference?

The profit of all trade enterprises is based on a simple formula: buy cheaper — sell more expensive. To form the price of goods and services, the concepts of margin vs markup are used, which many consider being synonymous. Nevertheless, they..

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Articles

May 06, 2022

Charles Lutwidge
Accounting Journal Entry for Depreciation

Accounting Journal Entry for Depreciation

Depreciation of fixed assets contains the cost of fixed assets in the cost of the goods or services produced. In accounting postings, depreciation of fixed assets is recorded on Journal Entry for Depreciation. Depreciation allows the manufacturer to include all production..

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Articles

May 05, 2022

Charles Lutwidge
What is the Contribution Margin Income Statement?

What is the Contribution Margin Income Statement?

Various income statement formats can help a company differentiate its profit and loss over a given period. The margin income statement converts the traditional income statement format and replaces specific total lines with margins rather than a profit summary. For instance,..

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Articles

May 04, 2022

Charles Lutwidge
What are the Advantages and Disadvantages of forming a Corporation?

What are the Advantages and Disadvantages of forming a Corporation?

The corporation acts as an economic entity, the authorized capital divided into equal shares that give the right to access information and share in profits and are in free circulation. The rules of this appeal are established by law and the..

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Articles

May 01, 2022

Charles Lutwidge
What are Temporary Accounts?

What are Temporary Accounts?

Accounting is one of the most significant spheres of business management. Accounts used for different types of money flow. All entrepreneurs are acquainted with the fundamental account groups, such as income and costs. But financial consultants of.ten use temporary and permanent..

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Articles

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