Wholesale vs Retail: Differences, Meaning, & Where to Start

By manutencao In Bookkeeping No comments

On the flip side, Maretta quickly found a couple of large retail stores whose particular focus is on natural, vegan, and/or palm-oil-free products. When these stores picked up Maretta’s range, her sales volume increased dramatically, enabling her to scale her production significantly. Similarly, when the demand for a certain product is high, retailers procure a […]

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Why Land is not Depreciated? 2 Exceptions

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Anyone who land depreciation owns real estate or wants to invest in it needs to know what causes the land to lose value. Another disadvantage of land depreciation is that it can potentially raise taxes. It is because when the value of a property is reduced on the books, it is taxed at a lower […]

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Sales Discount in Accounting

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When a payment arrives with a recognized sales discount, recording it accurately is essential. The amount paid on the invoice is recognized as revenue, while the discount amount is posted to a sales discount ledger account. The direct costs portion of the income statement is where net sales can be found. Accountants regularly complete bank […]

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Quality Standards: Importance and Principles

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This result is interpreted as the organization saved $15,000 in direct materials costs by using less direct material per unit than they planned. It is important to remember that standards are the planned or projected amounts. It could mean that the direct materials quantity standard needs to be reduced to achieve an accurate standard variable […]

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Accounting Standard Definition: How It Works

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The goal is to determine how much should have been incurred to produce the actual quantity of units produced and compare that to how much was actually incurred to produce the actual quantity of units produced. The standard and actual amounts for direct materials quantities, prices, and totals are calculated in the top section of […]

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Contribution Margin Ratio Formula Per Unit Example Calculation

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Investors and analysts use the contribution margin to evaluate how efficient the company is at making profits. For example, analysts can calculate the margin per unit sold and use forecast estimates for the upcoming year to calculate the forecasted profit of the company. The concept of this equation relies on the difference between fixed and […]

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Free Construction Invoice Template for download

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Specify your payment terms, such as the due date and acceptable payment methods (e.g., bank transfer, credit card, check). Mention any penalties for late payments to construction invoices encourage timely settlement. For users opting for Excel or Google Sheets, the template features built-in formulas for automatic calculations. Download the Construction Invoice Template Retention creates a […]

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How to Find a Federal Tax ID Number: EIN Lookup

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The EIN is given by the IRS, the government organization that educates the public and facilitates the process of paying taxes for individuals and businesses. With LegalZoom, you can secure an EIN easily—we’ll file your application directly with the IRS for you, and send you final paperwork for confirmation of accurate filing. Your unique federal […]

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16 Best Seattle, WA Bookkeeping Services

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Linda has over 30 years of experience as a CPA and she is a member of the American Institute of Certified Public Accountants and the Washington State Society of Certified Public Accountants. Linda M. Teachout, CPA, PLLC is accredited by the Better Business Bureau and has an A+ rating. Once we have everything set up, […]

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