Content Example of Unearned Revenue Service-Based Industries Professional services Set Up Your Accounting Processes for Unearned Revenue Service providers may also require a down payment if the service is an intangible or requires purchasing supplies such as painting, roofing or renting a meeting space. The final adjusting entry to convert…

Content Understanding the Income Statement What Goes on an Income Statement vs. Balance Sheet? Join over 140,000 fellow entrepreneurs who receive expert advice for their small business finances Build your dream business for $1/month Selección de un periodo contable Components of a Single-Step Income Statement The “multi-step” income statement example…

Content When the merchandise has a consistent mark-up percentage Pros of the retail inventory method Restaurant Financial Budgeting and Its Strategies Wind Energy Excel Financial Model To calculate the final cost of the inventory using this method, calculate the cost-to-retail ratio for a specific year and multiply the ending inventory…

Content What Is Average Fixed Cost? Company What is not a fixed expense? Table of Contents Money market account vs. savings account: What’s the difference? Of course, this concept only generates outsized profits after all fixed costs for a period have been offset by sales. No matter how much you…

Content Types of Invoices Total amount due Online invoices How do you send an invoice? Creating an Invoice: Step by Step Grow your retail business When sent, an invoice functions as an official request for payment for products and services. It serves as a reminder for the customer to pay…

Without noting accrued expenses, a business can seem more profitable than it is during the time period under review. This doesn’t create an accurate depiction of the company’s health, because it doesn’t account for the liabilities that are owed. When something financial accrues, it essentially builds up to be paid…

Content What does FOB mean in shipping? Other Shipping Terms What Does Free or Freight On Board (FOB) Mean? Other definitions for fob (2 of Remote keyless entry systems will only allow access to a vehicle if the right key fob is presented and are an effective deterrent against motor…

Content Best Accounting Software for Construction Businesses Sage 100 Contractor: Best for Easy Project Estimation What do you get with COINS Construction Cloud: Does Foundation have the accounting tools to work in the UK construction industry? Which Construction Accounting Software Is Right For Your Business? The Top Accounting Software Solutions…

Content Oil and gas asset retirement obligations Successful-Efforts vs. Full-Cost Accounting: What’s the Difference? Income Statement Oil and Gas Management courses Streamlining Pharmaceutical Operations: The Power of Invoice Automation Keep following our blog series where next week we’ll be exploring why the future of oil and gas production accounting lies…

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