May 13, 2022
Charles Lutwidge
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....
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May 12, 2022
Charles Lutwidge
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...
May 11, 2022
Charles Lutwidge
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,...
May 06, 2022
Charles Lutwidge
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...
May 05, 2022
Charles Lutwidge
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...
May 04, 2022
Charles Lutwidge
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...
May 01, 2022
Charles Lutwidge
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...
April 29, 2022
Charles Lutwidge
What are Period Costs?
Period costs are one of the basic costs that companies must indicate in their financial statements. Nowadays, every successful entrepreneur must know how to report period costs. It helps fill out the ledger accurately and plan your budget effectively for...
