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This method is required under generally accepted accounting principles (GAAP) for external financial reporting. Variable costing and absorption costing are two different methods used for accounting the costs of producing a product or service. The main difference between them refers to the way they deal with fixed overhead costs. Variable costing, also known as direct… Seguir leyendo Variable v Absorption Costing Managerial Accounting

If you’re a business owner, navigating financial compliance regulations can feel like a full-time job. One of the most critical (yet often overlooked) requirements is reporting to the… We stand by our work and guarantee quality tax preparation that automatically comes with our audit protection. full-stack Accounting Our intuitive software automates the busywork with powerful… Seguir leyendo Prism Bookkeeping & Business Management in Portland, Oregon

In Greece and Egypt, the words used for interest, tokos and ms respectively, meant “to give birth”. In these cultures, interest indicated a valuable increase, and seemed to consider it from the lender’s point of view.43 The Code of Hammurabi (1792–1750 BCE) included laws governing banking operations. The Babylonians were accustomed to charging interest at… Seguir leyendo Personal Finance and Financial Basics

Locating the stockholders’ equity section on this statement is the primary step in calculating this crucial figure. When a company decides to distribute a portion of its profits to shareholders, it reduces retained earnings, thereby decreasing stockholders’ equity. The decision to pay dividends often reflects management’s confidence in the company’s future cash flows and its… Seguir leyendo Equity: Meaning, How It Works, and How to Calculate It