Simply stated, assets represent value of ownership that can be converted into cash. Two major asset classes are intangible assets and tangible assets. Intangible assets are identifiable non-monetary assets that cannot be seen, touched or physically m... Read more
That means you need to allocate enough time to finish—and review—each testlet. That amount of time should vary according to the type of testlet.Task-Based Simulations are case studies modeled after actual scenarios. These simulations are designed to ... Read more
The South Carolina retailer is only registered in the state of South Carolina for sales and use tax purposes. In a nutshell, if you use drop shipping in Pennsylvania and you have nexus there, you’d be the one to collect sales tax, not the whole... Read more
This formula shows the cost of products produced and sold over the year, according to The Balance. To do this, a business needs to figure out the value of its inventory at the beginning and end of every tax year. Its end of year value is subtracted f... Read more
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Amount of incre... Read more
Again, you can use your cost of goods sold to find your business’s gross profit. And when you know your gross profit, you can calculate your net profit, which is the amount your business earns after subtracting all expenses.... Read more
According to these basic calculations, the quarterly COGM of the furniture company is 97,200 dollars. In order to calculate COGM, just add the Beginning WIP Inventory to the Total Manufacturing Cost, and subtract the Ending WIP Inventory. This will g... Read more
It measures, records and analyzes both fixed and variable costs for this purpose. The Activity Based Costing approach relates indirect cost to the activities that drive them to be incurred. Activity Based Costing is based on the belief that activitie... Read more
The total expense over the life of the asset will be the same under both approaches. By accelerating the depreciation and incurring a larger expense in earlier years and a smaller expense in later years, net income is deferred to later years, and tax... Read more
The GAAP balance sheet indicates that the company has assets of about $1 million, of which approximately two-thirds have been contributed by creditors and the balance by owners. Plant and equipment make up approximately fifty percent of the assets, a... Read more
