They are issued by suppliers or vendors to record additional charges or adjustments made to the original purchase transaction. Efficient management of receipts involves ensuring that […]
In other words, calculate the actual rate per hour after receiving the payment. The difference may arise due to several reasons including inefficiency, the inexperience of […]
Consequently, there were 1,000 equivalent units for materials and 350 equivalent units for direct labor and manufacturing overhead. Managerial and cost accountants use the equivalent units […]
It is also known as the profit and loss (P&L) statement and is important in gauging the profitability of a business. You absolutely should read the […]
According to a physical count, 1,300 units were found in inventory on December 31, 2016. The company uses a periodic inventory system to account for sales […]
It records all the transactions that take place between you and your debtors. Here, debtors are nothing but the business entities to whom you have sold […]
The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. When your supply begins to run low in […]
It is important to note that keeping track of cost centres is the job of the management accounting department in comparison to the department of financial […]