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Favorable direct materials cost variance occurs when the company had savings or incur costs that is less than what is budgeted. That would happen when the...
Stockholders will be most interested in profitability ratios, with secondary consideration given to debt utilization, liquidity, and other ratios. Why is ...
It is divided into three parts which consist of, Fund Sources. Amount. Applications of funds. What is fund in fund flow statement? Fund flow statement is ...
You can find accounts receivable under the ‘current assets’ section on your balance sheet or chart of accounts. Accounts receivable are classified as an a...
The percentage of completion method must be used if the revenues and costs of a project can be reasonably estimated and the parties involved are expected ...
A deposit on utilities is recorded with a debit to the asset account Utilities Deposit and a credit to the asset account Cash. The account Utilities Depos...
The financial close process is a recurring system in which an accounting team verifies and adjusts account balances at the end of a designated period and ...
Cognitive psychologists, sometimes called brain scientists, study how the human brain works — how we think, remember and learn. They apply psychological s...
Types of Business Organizations – Advantages and Disadvantages Easiest , simplest, and least costly business entity to form and operate. Complete control ...
How to Record Service Revenue for Accounting Purposes. As mentioned above, service revenue is recorded on the income statement along with other revenues. ...
Like shareholders of a corporation, all LLC owners are protected from personal liability for business debts and claims. Because only LLC assets are used t...
A financial or quantitative statement prepared for a function of an organization; it summarizes the policies and the level of performance expected to be a...
