October 28, 2021
Charles Lutwidge
What is net income
Net income and doing business are strongly linked. New companies are being opened precisely to generate income. Entrepreneurs are actively developing ways to increase the profitability of the business and use material and labor resources more effectively. Therefore, it is...
Delegate your financial records to a highly qualified bookkeeper and forget about bookkeeping stress forever.
October 27, 2021
Charles Lutwidge
What is gross income and How it works
The goal of any company is to generate profit. All income minus all expenses – this is how most business owners calculate their success. However, this approach will help determine only one of the types of income – net income,...
October 26, 2021
Charles Lutwidge
Basic Overview of Progressive Tax
Taxes are obligatory payments of individuals and legal entities to the government. There are two types of taxation systems. With a progressive tax structure, the tax owed to the government is calculated using a rate that increases as soon as...
October 24, 2021
Charles Lutwidge
Days Payable Outstanding (DPO)
Accounts Payable Accounts payable is a bookkeeping account you will see in most businesses. It means that the company is buying something from suppliers or receiving services from other entities, but it does not pay for anything until sometime later...
October 23, 2021
Charles Lutwidge
What Is the Equity Method of Accounting?
Overview One of the main advantages of accounting is that in many cases it has clear rules, guidelines, and requirements as to what a business has to do and how it should reflect its various activities on paper. If you...
October 20, 2021
Charles Lutwidge
Meaning and Example of Insurance Expense
Insurance No one is safeguarded from accidents and other unfortunate events that inevitably occur in our lives. Insurance is a way to protect you and your property from various risks. It is primarily the protection of your financial interests in...
October 19, 2021
Charles Lutwidge
Variance Analysis
Budgeted costs Among other questions, an investor would ask about the project costs. The management would need to not only get numbers that are close to what the business will spend but also adhere to these projected numbers to the...
October 18, 2021
Charles Lutwidge
Marginal Cost Formula
Overview When we talk about the production of any product, we always say that the interaction of different elements and processes allows the raw material to become the final product, which is destined to get into the hands of the...
