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September 02, 2020

Charles Lutwidge
Non-Manufacturing Overhead Costs

Non-Manufacturing Overhead Costs

Non-manufacturing overhead costs, also simply referred to as non-manufacturing costs, are costs not related to production. comes from. You might also see them known as period costs. They are divided into categories known as Selling or General and Administrative. Companies can..

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September 01, 2020

Charles Lutwidge
TOA Global Accounting Review

TOA Global Accounting Review

Accounting and bookkeeping are the most crucial functions in both small and large businesses. In this review, we will tell you about one of the options you have for your bookkeeping and accounting tasks – outsourcing them to TOA Global Accounting...

Articles

September 01, 2020

Charles Lutwidge
The Meaning and Benefits of 501 (c3) for Donors and Organization

The Meaning and Benefits of 501 (c3) for Donors and Organization

501 c3 Definition There are many kinds of tax-exempt organizations, however, the 501c3 is the most common. It is the United States legal code number that creates space for federally tax-exempt charities. Charities are typically nonprofits that have fundraising events and..

Articles

September 01, 2020

Charles Lutwidge
A Closer Look at Forensic Accounting

A Closer Look at Forensic Accounting

The term forensic accountant was first used in 1946 by Maurice Peloubet, who wished to recognize and celebrate IRS special agent Frank J who led to the takedown of the famous gangster Al Capone. What is Forensic Accounting? Forensics is a..

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September 01, 2020

Charles Lutwidge
Job Costing Basics

Job Costing Basics

In some companies, like a design studio, auditing firm, consulting business, or custom furniture manufacturer, every job is different. It is, therefore, necessary to estimate the cost of each individual job. This is in contrast to companies with products that are..

Articles

September 01, 2020

Charles Lutwidge
Project Accounting

Project Accounting

How important is accounting in a business? Do you own a construction, manufacturing, or any other project-based company and wonder if you hired the wrong bookkeeper? The only way to start right is to make sure you bookkeeping us set up..

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August 31, 2020

Charles Lutwidge
Work-in-Process Inventory

Work-in-Process Inventory

A merchandising firm just buys inventory and then sells inventory that is already put together. A manufacturing firm, on the other hand, has a completely different accounting process for its inventory. Work-in-process inventory, sometimes called work-in-progress inventory or simply WIP, account..

Articles

August 31, 2020

Charles Lutwidge
Unrestricted Net Assets in Nonprofits

Unrestricted Net Assets in Nonprofits

Net Assets Defined Accounting in for profit business and nonprofit organization slightly differs. The experience in a for profit world does not always translate to the nonprofit world, where many don’t have as much experience.  One of the things that you..

Articles

August 31, 2020

Charles Lutwidge
Accounting for Lease Termination

Accounting for Lease Termination

Lease termination is when a lessee or lesser decide to break the lease agreement before the agreement is over. There can be several reasons for terminating the lease. For example, the tenant might terminate it because of the conditions of the..

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