November 10, 2021
Charles Lutwidge
What is the Profit and Loss Statement (P&L)
Overview Income, office rent, taxes, logistics, payroll, purchase of supplies, and other expenses are all operational activities. When it comes to expenses and incomes with deferred payments, obligations, deadlines for fulfilling obligations, and so on, you can get confused and...
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November 09, 2021
Charles Lutwidge
How to Make an Invoice
Invoice and Invoicing Tools An invoice, simply put, is a document issued by the seller (business) and delivered to the buyer (customer). The document is used to request payment from the buyer of the goods or for the provision of...
November 08, 2021
Charles Lutwidge
What Is an Invoice?
Whether you are a bookkeeper or a business owner who wants to know the purpose of each document in the business operation and be able to correctly prepare it, you are in the right place. Today, we are going to...
November 06, 2021
Charles Lutwidge
What Are Closing Entries in Accounting
Definition and Explanation Bookkeeping is a subject with many rules, principles, and regulations guiding every move of the business as a whole as well as the work of a bookkeeper. Closing entries are part of the bookkeeping basics, so it...
November 05, 2021
Charles Lutwidge
What Is a Variable Cost
Overview Businesses need a plan not only to understand the goals and ways to achieve them but also to substantiate the profitability and the possibility of implementing investment projects. When doing project calculations, management is faced with the concept of...
November 04, 2021
Charles Lutwidge
What are Intangible Assets
Overview The intellectual property of enterprises is becoming an increasingly expensive asset, the real value of which cannot always be reflected, even with the help of accounting. Unfortunately, inventions, trademarks, know-how belong to the type assets of the enterprise, which...
November 03, 2021
Charles LutwidgeWhat is an Expense
Overview There are various types of expenses in accounting that are associated with a company’s operating, financing, and other activities. Costs represent the cost of material, labor, financial, natural, informational, and other types of resources spent on the production and...
November 02, 2021
Charles Lutwidge
Salvage Value Definition
Fixed assets depreciation When buying fixed assets for a business, their cost must be properly taken into account. Fixed assets are assets that are purchased not for subsequent sale with profit, but for conducting business. The main purpose of a...
