March 14, 2022
Charles Lutwidge
Fixed Cost: Definition and Formula
Expenses are the basis for calculating the cost and planning the price of goods or services. Companies traditionally categorized expenses as fixed, variable, and irregular. Fixed costs reflect expenditures that aren’t affected by sales or production levels of the company....
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March 11, 2022
Charles Lutwidge
Tax Form 1120 – What It Is, How to File It
Taxpayers need so many forms to fill out and send to the IRS, contractors, businesses that it can create a lot of confusion. Most small businesses claim that filing taxes is one of their biggest concerns when the end of...
March 10, 2022
Charles Lutwidge
What is a Tax Write-Off
A tax write-off, or in other words, a tax deduction, is a rather helpful option to use by taxpayers. Such taxpayers as self-employed individuals and small business owners get the most out of tax deductions. This option allows taxpayers to...
March 09, 2022
Charles Lutwidge
What are Solvency and Liquidity
Solvency vs. liquidity shows the differences between a company’s approaches to measuring the ability to use current assets to cover short-term or long-term obligations and debts. Solvency focuses on long-term objectives. It reflects the company’s ability to generate positive net...
March 07, 2022
Charles Lutwidge
How to Calculate FIFO and LIFO
The inventory valuation process is very important in accounting. It enables the company to calculate the goods sold and the cost of the remaining inventory. There are two most popular methods in accounting: FIFO and LIFO. Each method has unique...
March 03, 2022
Charles Lutwidge
What is Overtime
Overtime is a common situation in a modern office workplace. But when it occurs, the company must properly calculate overtime pay. Keep reading the article to find out more about the topic. Understanding Overtime Pay Businesses often work on projects...
February 22, 2022
Charles Lutwidge
Payroll Expense: Meaning and Calculation
Employee costs Most business owners cannot immediately answer how much each employee costs them. As a rule, they ignore this topic, pointing to the lack of time and doubts that this will somehow help optimize the business. However, these costs...
February 21, 2022
Charles Lutwidge
Just in Time Inventory: Basics and Implementation
Overview The emergence of this concept dates back to the late 1950s, when the Japanese company Toyota Motors, and then other automobile manufacturers in Japan began to actively implement the KANBAN system. The original goal of the JIT concept was...
