Income Statement

SOU requires receipts for overnight stay and reimburses lodging at rates. To find qualified lodging in State of Oregon, visit Search High Cost Cities Search Rates by City. When making lodging reservations, travelers should identify themselves as state employees to obtain any available government discounts. Receipts are not required to be included in the supporting documentation for the reimbursement of an incidental expense. However, the documentation must include an itemization of the expenses […]

Through them we’ll see what accounts and journal entries are required, and how to switch depreciation method in the middle of an asset’s life in order to fully depreciate the asset. We’ll also discuss how depreciation affects the Balance Sheet, and more. If new to the concept of depreciation, we recommend reading Depreciation Basics and Straight-line Depreciation. Enter the straight line depreciation rate in the double declining depreciation formula, along with the book value […]

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…) […]

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…) […]

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 […]

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 […]

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Encountering new people, places, and cultures exposes you to different ways of doing things, both personally and professionally. When traveling, “you step outside your routine, your comfort zone, and open your mind to new ideas and potential innovations,” Watkins said. “You also work your creative muscle because traveling rarely goes exactly as planned, so you have to be flexible and willing to adapt given ever-changing circumstances.”

They are characterized by excessiv […]

Owner salaries/bonuses – these will likely be greater than other employees, but will not be costs that a new owner must follow. Understanding, determining and applying EBITDA plays an important role in uncovering the value of your business and maximizing your exit strategy. Excel Shortcuts PC Mac List of Excel Shortcuts Excel shortcuts – It may seem slower at first if you’re used to the mouse, but it’s worth the investment to take the time and… On an EV/EBITDA basis, com […]

These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. Peggy James is a CPA with over 9 years of experience in accounting and finance, including corporate, nonprofit, and personal finance environments.

And IFRS specify the treatment of extraordinary […]