Bookkeeping

Please refer to the previous comment, the book is well organized and consistent with other books that I have reviewed on the subject matter. There is also a second book, Principles of Accounting 2, which concentrates on management accounting. The chapters build on one another and flow from one to the other effortlessly. OpenStax does […]

Any unavoidable added costs that are not in the value stream are regarded as business sustaining costs. Under lean accounting, potential areas of waste can be divided into eight. It is instead measured in terms of how much time customer satisfaction takes and the level of customer satisfaction. Standard costs are costs that should have

Notice how the subsidiary ledger agrees to the GL control account and does not include our estimated $10,000 of bad debt. An allowance for questionable accounts is calculated based on an estimate. Bad debts must be reported promptly and correctly for the reasons stated above. Furthermore, they assist businesses in identifying consumers who have defaulted

To find out, subtract the credit card merchant fees from the total sale amount. This represents how much money your business actually made from the sale. Revenue and expense recognition timing is critical to transparent financial presentation. Even though GAAP is required only for public companies, to display their financial position most accurately, private companies