Lưu trữ Danh mục: Bookkeeping

Time cost forms a significant portion of indirect costs, hence critical for running the business. The financial advisor advises them to take a loan from a recognized financial institution as they would charge a lower interest rate. It was estimated that a rate of 10% would be required to pay $5.4 million annually (simple interest […]

Mastering the balance between fixed and variable costs is key to managing a successful business. By understanding these cost categories and income statement how they impact your financials, you can make more informed decisions about pricing, budgeting, and cost control. Utilizing financial data APIs can further enhance your ability to analyze and manage costs effectively. […]

You will close the income summary account after you transfer the amount into the retained earnings account, which is a permanent account. Therefore, the dividends payable account – a current liability line item on the balance sheet – is recorded as a credit on the date of approval by the board of directors. The correct […]