Category: Business Principles
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Job Costing
Job costing is one of the forms of cost accounting. It is used in conjunction with financial accounting to alert management about profitability with production.
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QuickBooks Online – An Accountant’s Review: ‘D+’
The first time I used QuickBooks, it was the DOS version. That was over 20 years ago. Today, there are a multitude of versions for QuickBooks. QuickBooks Online doesn’t measure up to Intuit’s Enterprise versions. It isn’t even close.
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Job Costing Reports – Introduction (Part 1)
Job costing reports are management tools used to evaluate project or production performance against a known or estimated standard.
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Business Principles – A Pyramid of Levels
There is no universal finite set of business principles. In the aggregate, there are over several hundred of them.
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Purchase Orders – Introduction to Fundamentals
Purchase orders are requests to a seller to provide a certain product or service. Purchase orders are a business tool to control both physical and financial outcomes related to operational activities.
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Journals and Ledgers
Accounting is the process of recording economic activity and organizing this information in a format to inform owners about financial results. It all begins with the journals and ledgers.
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Class Accounting With QuickBooks
Class accounting is one of the options available with QuickBooks software. Most accountants and bookkeepers misunderstand its purpose and how to properly implement this wonder tool of accounting.
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Subcontractor Documentation
Similar to documentation required for hiring an employee, companies must acquire certain documentation from their subcontractors.
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Labor Burden Rate – Introduction and Understanding
Labor burden refers to the additional costs an employer pays to have employees. The labor burden rate is a value added onto direct wages to understand the actual cost per unit of wages paid for an employee.
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Pooling of Costs – Basic Understanding
Pooling of costs is an accounting trick used to facilitate better matching of costs against the respective revenue stream or predicted cost for the respective product or function.