Bookkeeping

NetSuite ERP Software Review: Pros and Cons

You can automate steps like order scheduling and tracking within the order management module. While business management only increases in complexity as a company grows, many smaller businesses still find ERP software to be essential in 2024. Even local, mom-and-pop businesses still juggle a variety of business elements such as accounting, inventory management, payroll and …

NetSuite ERP Software Review: Pros and Cons Read More »

How to Calculate FIFO

The first-in, first-out method is best used for products that have an expiration date or those that can become obsolete over time. Using the FIFO formula is a relatively simple process that involves tracking inventory based on its chronological order of receipt. This can help businesses ensure that older products are sold before newer ones, …

How to Calculate FIFO Read More »

5 1 Compare and Contrast Job Order Costing and Process Costing Principles of Accounting, Volume 2: Managerial Accounting

It enables companies to precisely estimate the cost of manufacturing a certain good or service. By assigning costs to a specific job order, businesses can track the cost of each job and make informed decisions about their pricing strategies. Normal costing involves using predetermined rates for allocating indirect costs to each job order based on …

5 1 Compare and Contrast Job Order Costing and Process Costing Principles of Accounting, Volume 2: Managerial Accounting Read More »

5 1 Compare and Contrast Job Order Costing and Process Costing Principles of Accounting, Volume 2: Managerial Accounting

It enables companies to precisely estimate the cost of manufacturing a certain good or service. By assigning costs to a specific job order, businesses can track the cost of each job and make informed decisions about their pricing strategies. Normal costing involves using predetermined rates for allocating indirect costs to each job order based on …

5 1 Compare and Contrast Job Order Costing and Process Costing Principles of Accounting, Volume 2: Managerial Accounting Read More »

Professional Bookkeeping Services for Small Business

There may be additional steps required if you plan to hire employees for your business. For instance, California requires workers’ compensation for all employers, regardless of the number of employees. In Alabama, on the other hand, businesses are not required to purchase workers’ compensation insurance if they have fewer than five employees. Online bookkeeping services …

Professional Bookkeeping Services for Small Business Read More »

Accounting Rate of Return Calculator ARR Calculator

Whereas average profit is fairly simple to calculate, there are several ways to calculate the average book value of investment. In conclusion, the accounting rate of return on the fixed asset investment is 17.5%. The incremental net income generated by the fixed asset – assuming the profits are adjusted for the coinciding depreciation – is …

Accounting Rate of Return Calculator ARR Calculator Read More »