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June 05, 2021

Charles Lutwidge
LIFO Reserve Explained with Example

LIFO Reserve Explained with Example

Definition It often happens that companies choose to have the accounting records to be maintained based on methods that are not allowed by the law to be used for reports meant for tax returns or financing. Yet, these methods often prove..

Articles

June 04, 2021

Charles Lutwidge
What Is the Payback Period?

What Is the Payback Period?

The return on investment comes with complex planning, accounting, calculation, and analysis process. To get a return on investment, you need to have experience and certain knowledge, otherwise, this task will be very difficult. Each investor is interested when their capital..

Articles

June 03, 2021

Charles Lutwidge
Units of Production Method of Depreciation: Explanation and Calculation

Units of Production Method of Depreciation: Explanation and Calculation

Definition One of the main tasks of the business owners, especially in the current conditions, is to preserve the financial capabilities of the enterprise – to pay wages, vacation and other payments to employees, taxes to the budget, and solve other..

Articles

May 29, 2021

Charles Lutwidge
An Easy to Understand Explanation of a Debit Memo with an Example

An Easy to Understand Explanation of a Debit Memo with an Example

Overview When dealing with merchandise inventory, some of the new terminology you might come across is debit and credit memo. What exactly does a debit memo mean? When a buyer purchases something from a business on a credit, both make records..

Articles

May 28, 2021

Charles Lutwidge
What Are Investing Activities in Accounting?

What Are Investing Activities in Accounting?

Definition Investing activities are a type of cash flow activities. Accordingly, you will see an investing activities section in the cash flow financial statement. They reflect changes to fixed assets, meaning transactions that increase and decrease the company’s long-term assets. The..

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May 27, 2021

Charles Lutwidge
Stockholders’ Equity

Stockholders’ Equity

Definition Any enterprise, be it an international corporation or a small local store, has some resources necessary for its operation. But what is stockholders’ equity? You can come across this concept both on the pages of textbooks on economics and in..

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May 26, 2021

Charles Lutwidge
Absorption Costing in Accounting

Absorption Costing in Accounting

Definition Absorption costing is a costing method that does not just account for the direct costs in the calculation of the cost of goods. In other words, the cost of each unit of a product with this method includes the following..

Articles

May 25, 2021

Charles Lutwidge
Trade Discount Explanation with Example

Trade Discount Explanation with Example

Definition The idea of giving a trade discount is frequently used in the supply chain. A trade discount is usually a percentage reduction in the price of merchandise granted by the manufacturer to the wholesaler or the wholesaler to the retailer...

Articles

May 24, 2021

Charles Lutwidge
Easy to Understand Explanation of Accrued Interest

Easy to Understand Explanation of Accrued Interest

Definition and Meaning Whether you are a business owner or simply an individual who wants to borrow money to finance a purchase or any other need, interest is something you will come across and should be familiar with. It is also..

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