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March 09, 2021

Charles Lutwidge
Conversion Costs: Meaning, Formula, and Example

Conversion Costs: Meaning, Formula, and Example

Definition Businesses where process costing is used, as opposed to job costing, usually have various production stages. At each production stage, resources, such as labor, additional material, and utilities, are added. Each stage includes a large amount of costs and at..

Articles

March 09, 2021

Charles Lutwidge
What is the Cost of Goods Sold? Meaning and Calculation

What is the Cost of Goods Sold? Meaning and Calculation

In the process of analysis and planning, the management usually wants to calculate indicators that characterize the efficiency of an enterprise. These indicators are crucial for being able to steer the business in the right direction and towards success. In today’s..

Articles

March 03, 2021

Charles Lutwidge
Fundamental Accounting: Concepts and Principles

Fundamental Accounting: Concepts and Principles

Reports and other accounting information are produced so management, investors, creditors, government, or other stakeholders can take actions based on this accounting information. If you consider every organization type, every organization location, how can we all speak the same language and..

Articles

March 03, 2021

Charles Lutwidge
How do bookkeepers get clients?

How do bookkeepers get clients?

There are many bookkeepers and accounting firms today that provide bookkeeping services. The competition is fierce and clients have options to choose from. How can a bookkeeper present oneself self in order to stand out from the competition? How to be..

Articles

March 03, 2021

Charles Lutwidge
Is bookkeeping a dying profession?

Is bookkeeping a dying profession?

There has been a recent trend of people viewing new technologies and software as a threat to the bookkeeping profession. Can we say that this is a dying profession without much future? Transformation of the bookkeeping profession The level of automation..

Articles

March 03, 2021

Charles Lutwidge
How can I learn bookkeeping?

How can I learn bookkeeping?

Business owners are often faced with the task of mastering financial bookkeeping for their own company. Is it possible to learn bookkeeping from scratch in a short time? Where to start? At first glance, it seems that it will take forever..

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March 03, 2021

Charles Lutwidge
What are the two types of bookkeeping methods?

What are the two types of bookkeeping methods?

Single-entry method The first type of bookkeeping method we are going to discuss is known as a single-entry. It is a simple form of accounting for financial activities in a business (or even a household). This method has been used for..

Articles

March 03, 2021

Charles Lutwidge
Should I become a bookkeeper or an accountant?

Should I become a bookkeeper or an accountant?

Do you know you like numbers, but you’re unsure what might be a good accounting career path for you? Today, we will try to help you decide if you should become a bookkeeper or accountant. Accounting and Bookkeeping: Difference Accounting and..

Articles

March 03, 2021

Charles Lutwidge
Does bookkeeping have a future?

Does bookkeeping have a future?

Today, we hear more and more about the professions of the future. Some say that in the near future completely new, more progressive professions will appear to replace the existing ones. Before choosing a certain career, one carefully studies all the..

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