Standard Operating Expenses – All about Depreciation Depreciation is the accounting way of measuring the wear and tear on your fixed assets. Although it has no impact on cash, it is part of your expenses. That means it lowers your company’s net income, which means lower taxes. When you buy assets, you don’t get to … Read more
The Inventory-Cost Connection: Inventory Transforms into Cost of Goods Whether you are a manufacturer, a wholesaler, or a retailer, you sell some kind of product. When you sell some kind of product, first you have to create or buy it. The products you have on hand, the ones that you intend to sell to your … Read more
Accounting Is More Than Numbers – Different Versions for Different Reasons In addition to you, there may be a lot of people who want to see how your business is doing. This includes your own employees, who may need to track particular numbers to get their jobs done; your accountant, who needs the numbers in … Read more
