Category: Bookkeeping

Under the periodic inventory system, there is only one journal entry to record the sales return and allowances. The cost …

If the market value of the inventory is unknown, the net realizable value can be used as an approximation of …

Let’s start by noting that under the accrual concept, income is recognized when earned regardless of when it is collected. …

You may also want to track industry-specific KPIs that help you benchmark performance against competitors. Access and download collection of …

Making smart financial decisions requires understanding a few key numbers. This number can tell you a lot about a company’s …

You don’t have to work with a ton of clients per year to run a highly profitable consulting business. We …