Three Ownership Interests Exist as an Entrepreneur
There are three distinct ownership interests with a closely held company. There is an economic expectation, a right to manage the company and right to hold the ownership position as an asset.
Month: August 2018
Revenue (Sales) Codes
Revenue (sales) codes are unique identifiers for products sold or services rendered. They are used to organize information so management can better understand customer demands and the company’s profitability related to the items sold.
Overhead – General Definition
Those costs not directly tied to the production of revenue are referred to as overhead costs.
Item Codes – Fundamental Understanding
Item codes are broken out into two distinct types: Sales (Revenue) and Cost Codes. The primary purpose is group values and units together in an account for evaluation purposes.
Business Leadership Tips
Being a boss or business owner is easy. Being a leader; that’s a whole different story. It can be challenging to become capable of motivating & inspiring staff. Is this what you want to achieve? Look no further.
Profit Standards for Residential Contractors
Profit standards for residential contractors vary depending on the type of contractor. In general, the net profit standard for contractors in the upper tier of performance range from 5.8% to as high as 9.6% of sales.