Producing the products, however, might bring incremental costs because of the downsizing. The management must look at the additional cost of producing the products under one roof. This what is incremental cost could mean more deliveries from vendors or even

Financial accounting involves the preparation of accurate financial statements. The focus of financial accounting is to measure the performance of a business as accurately as possible. While financial statements are for external use, they may also be for internal management

Not to forget, the stakeholders should also be aware of all the transactions taking place in the company. Revenue of the company is the total value of sales made, out of which the gains are identified as revenue minus the

Concrete guidelines are essential because of the value and volume of transactions during any period. Accounts Payable refers to a business’s obligations to suppliers and creditors for purchases made on an open account. It specifically refers to any amounts owed

You can visit Meetup and search the keyword “QuickBooks” to see if there’s a group in your area. If you find a group, you can reach out to the organizer and explain that you’re looking for a QuickBooks expert within

Keeping track of the period of cost is also important for filing accurate business taxes and for preparing for an audit. Tracking period costs will also help a business balance its budget and gain savings. It will also allow a