Business Principles Accounting

Accounting’s primary principle is the measurement of economic activity. The American Institute of Certified Public Accountants provide the concepts and principles in measuring economic activity and how those financial transactions are recorded.

Job Costing

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. A common thread that binds job costing is a signed contract. 

QuickBooks Online – An Accountant’s Review: ‘D+’

QuickBooks Online

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. There are many issues the Online version has and thus the end reporting function is limited. However, there are a few interesting advantages. This accountant’s review helps the reader to understand the advantages and issues the Online version has.

Job Costing Reports – Introduction (Part 1)

Job Costing Reports

Job costing reports are management tools used to evaluate project or production performance against a known or estimated standard. They are used in many business sectors and their respective industries. The primary purpose of job costing reports is to identify discrepancies or beneficial results, usually in the form of financial values. They can be used to report both financial and numerical production outcomes.

Class Accounting With QuickBooks

Class Accounting

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. If you are considering using class accounting and want to have a full comprehensive understanding, this is the article for you. 

Insolvency – Detection

Insolvency

Insolvency refers to the ability to pay bills in a timely manner. It does not mean bankruptcy but long-term insolvency is a underlying factor of bankruptcy. Many owners and/or managers of small business have no idea of how to determine if the company is insolvent or headed towards the inability to meet their day to day obligations.