fbpx

Bookkeeping

Financial Statements: Balance, Income, Cash Flow, and Equity

It is also called a flow report that describes the outcome of all revenue-generating activities of an entity. Business transactions are to be recorded in at least two accounts in double entry system of accounting. This is to say every amount debited in a transaction must be equal to every amount credited in that transaction. Thus, the terms debit and credit are used to record every business transaction in accounting. These basically indicate on which side of a particular account…

0
Read More

What is Cost Accounting? Definition, Basics, Examples

For example, suppose a company leases a machine for production for two years. The company has to pay $2,000 per month to cover the cost of the lease, no matter http://narodru.ru/smi11681.html how many products that machine is used to make. The main goal of lean accounting is to improve financial management practices within an organization. Labor refers to any wages to employees which relate to a specific aspect of producing products or delivering services. Their duties include everything from planning…

0
Read More