Beyond purchase price, this includes freight, customs duties, insurance, and handling fees. Landed cost represents the total expense of getting a product to your warehouse or shelf. Accurate COGS calculations ultimately provide the foundation for meaningful profitability analysis and inform critical pricing decisions. This becomes especially important when calculating the cost basis for inventory valuation
Read MoreModern accounting software automates these processes to save time and reduce errors. Debits and credits track these changes to reveal profit or loss. This shows cash and revenue both increasing by $500. Each entry includes a short description of the transaction. Debits appear on the left, credits on the right, usually indented. Each step keeps
Read MoreEnterprise value is used as the basis for many financial ratios that measure the performance of a company. To calculate market capitalization—if not readily available online—you would multiply the number of outstanding shares by the current stock price. This is a sign that a company is not using its assets very well—it has too much
Read MoreAutomate administrative HR processes and reduce errors by syncing data between ADP Workforce Now and Microsoft Azure Active Directory. “The workforce looks completely different today than it did just five years ago, and doing business is more complex than ever,” said Don Weinstein, chief strategy officer at ADP. It can instantly remove permissions when employees
Read MoreMost platforms offer some functionality to generate legal invoices, but this process, too, can vary in sophistication. Another common mistake is choosing technology that will serve your law firm’s needs today without regarding the future. The platform offers a variety of helpful integrations, including with Quickbooks, NetDocuments, AccountEdge, and LawPay. It also has a mobile
Read MoreBefore diving into the inventory valuation methods, you first need to review the inventory formula. The components of the formula are used to calculate how to calculate fifo and lifo FIFO and LIFO accounting values. Using FIFO does not necessarily mean that all the oldest inventory has been sold first—rather, it’s used as an assumption
Read MoreFull-time employees are often counted as 1.0 FTE, while part-time employees represent a fraction of an FTE. For example, if a full-time work week is 40 hours and someone works 20 hours, that person counts as 0.5 FTE. Headcount refers to the total number of full- and part-time employees working in a company. Full-Time Vs.
Read MoreThe firm prides itself on its commitment to efficiency and the ability to adhere to timelines. Beyond Bookkeeping is an accounting service that is headquartered in the city of San Francisco. It stands out from other bookkeepers because it is based in the cloud. The company has been in business for over ten years and
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