FIFO vs LIFO

The costs paid for those recent products are the ones used in the calculation. Businesses are required to choose one method and use it consistently over time. Private vs. Public Companies The resulting gross margin is a better indicator of management ‘s ability to generate income than gross margin computed using https://ru.investing.com/directory/%D0%A2%D0%BE%D1%80%D0%B3%D0%BE%D0%B2%D1%8B%D0%B5-%D0%9F%D0%BB%D0%B0%D1%82%D1%84%D0%BE%D1%80%D0%BC%D1%8B, which may include…

Do Bookkeepers Need to Be Licensed?

Do Bookkeepers Need to Be Licensed? Live QuickBooks Training Online Join business organizations in your area and your local chamber of commerce. Introduce yourself to business owners and give a brief explanation of your business and the services you provide. Schedule an introductory meeting with individuals interested in your business. Explain your services in more…

Pros and Cons of Cash-basis Accounting

Despite its benefits, there are some cons to using cash-basis accounting. Consider the following before deciding on the cash-basis method. Not as efficient, accurate and reliable as Accrual Basis of Accounting. Advantages of cash-basis accounting In place of the expenditure documentation, a journal entry is created to record an accrued expense, as well as an…