The Difference Between Fixed Cost, Total Fixed Cost, And Variable Cost

 Posted on Posted on: 14.09.2023Categories Income Statement

Examples of variable costs include direct labor and direct materials costs. Both fixed costs and variable costs contribute to providing a clear picture of the overall cost structure of the business. Understanding the difference between fixed costs and variable costs is important for making rational decisions about the business expenses which have a direct impact on profitability.
Sage 50cloud is a feature-rich accounting platform with tools for sales tracking, (more…) […]

Gross Vs Net Income

 Posted on Posted on: 14.09.2023Categories Income Statement

However, there’s a chance you could earn other income from your employer, including bonuses. If you’ve received bonuses in addition to your salary, you will need to include the full amount you received before taxes in bonuses when you calculate your gross salary amount. If you use a budgeting tool that asks you to start with net income, be sure that you have a way of tracking your deductions. For example, let’s say that you have retirement contributions (more…) […]

Forms For Sole Proprietorship

 Posted on Posted on: 14.09.2023Categories Business Accounting Blog

Loans are offered in amounts of $250, $500, $750, $1,250 or $3,500. Approval and loan amount based on expected refund amount, eligibility criteria, and underwriting. If approved, funds will be loaded on a prepaid card and the loan amount will be deducted from your tax refund, reducing the amount paid directly to you. Tax returns may be e-filed without applying for this loan. Fees for other optional products or product features may apply. Limited time offer at participating locations.
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Are You Making These 7 Common Sole Proprietor Tax Mistakes?

 Posted on Posted on: 14.09.2023Categories Business Accounting Blog

To get the maximum deductions for your business vehicle, you must maintain a written log of business miles. You must also jot down your odometer reading at the beginning and end of each year so you’ll know your total miles. Spend less time worrying about taxes, and let Taxfyle take care of the details, so you don’t have to. You can estimate the amount you need to pay using the worksheet on page 8 of Form 1040-ES or get help calculating your estimated payments (more…) […]

Gross Sales Vs Net Sales

 Posted on Posted on: 13.09.2023Categories Income Statement

You still have to pay for things like office supplies, rent and loan repayments out of your gross profit. Every kind of negative transaction, even the simple return of a defective product for another one, counts as an expense. By tracking each-and-every expense (in each-and-every possible category) you can accurately examine your company’s health and profitability. A local manufacturer realized net sales of $500,000 over 12 months. The company spent $100,000 on materials and $200,000 (mor […]

Attention Required!

 Posted on Posted on: 13.09.2023Categories Business Accounting Blog

If this is your business, feel free to claim this listing and update your profile information to bring the profile to live status. According to SBA, the estimated annual cost of compliance with the federal tax code for businesses is more than $102 billion nationwide. Business.gov provides compliance searches to locate specific tax forms and other compliance-related documents to reduce this cost, the agency said. Whether a taxpayer has a simple straight-forward tax return or one that’s a l […]

Economic Order Quantity Eoq

 Posted on Posted on: 13.09.2023Categories Business Accounting Blog

The EOQ helps companies minimize the cost of ordering and holding inventory. As explained by the economic concept known as economies of scale, the cost per unit of ordering a product falls, the larger the total quantity of the order. However, the larger the total quantity of an order, the higher the cost to hold and carry your inventory. The EOQ is a company’s optimal order quantity that minimizes its total costs related to (more…) […]

Operating Expenses Vs Sg&a

 Posted on Posted on: 13.09.2023Categories Income Statement

That way, you know how much money you’re spending in selling expenses and how much in general and administrative expenses. To simplify things, you can also just add together all of your expenses to find your total SG&A expense for the period. Zero-base budgeting can also be used to maintain control over the SG&A expense category. The classification generally does not include the expenses incurred by the research and development department.

SG&A plays a key role in a compan […]

Parts Of A Check And Where To Find Information

 Posted on Posted on: 13.09.2023Categories Business Accounting Blog

Thus, a certified cheque cannot “bounce”, and its liquidity is similar to cash, absent failure of the bank. The bank indicates this fact by making a notation on the face of the cheque . In Australia, following global trends, the use of cheques continues to decline. In 1994 the value of daily cheque transactions was A$25 billion; by 2004 this had dropped to only A$5 billion, and by 2018 this had dropped to only A$1 billion, with almost half of this for B2B transactions.
While we stri […]

Audit And It Audit For Dummies

 Posted on Posted on: 13.09.2023Categories Business Accounting Blog

I think you might go back to software dev. Wherever you get a job, talk to the managers in the areas you’re interested in moving to, and let them know your interest. In the meantime, you will be meeting new people and gaining good contacts. If you have an opportunity to get into either general audit or IT audit, choose the job based on whether you are more comfortable with accounting or IT. If you only get one option, take whatever comes up.

To ask other readers questions aboutAuditing f […]