Category: Bookkeeping

  • Difference Between Receipt and Payment Account and Income and Expenditure Account

    After almost a decade of experience in public accounting, he created MyAccountingCourse.com to help people learn accounting & finance, pass the CPA exam, and start their career. Today she went to a local supermarket to buy some groceries and after picking everything she needed she went to the cashier to pay for everything. The supermarket…

  • How To Create a Balance Sheet: A Step-by-Step Guide

    This account may or may not be lumped together with the above account, Current Debt. While they may seem similar, the current portion of long-term debt is specifically the portion due within this year of a piece of debt that has a maturity of more than one year. For example, if a company takes on…

  • How to Factor Fixed Expenses Into Your Budget

    The amount you pay for a variable expense can vary depending on things like the season or your spending habits. Budget your fixed expenses first, because they make up the majority of your budget and are usually set for longer periods of time. Your variable expenses pay by debit or credit card when you e…

  • Manufacturing Overhead: Definition, Formula and Examples

    This method is used when there is no particular pattern to the asset’s loss of value. Where TMO represents the total manufacturing overheads and C stands for units of cost driver (activity/allocation base). Tracking fixed inputs and overhead costs manually can be a time-consuming and tedious project. Once you’ve estimated the manufacturing overhead costs for…

  • How to Become a CPA Steps & Certification Requirements

    Though the path to becoming a CPA is pretty consistent across most states, the time it takes to obtain your license may differ slightly depending on your location and current education. Becoming a CPA can be an arduous task, as it requires demonstrating you can take on the responsibility for the financial health of an…

  • Minimum Wage U S. Department of Labor

    The Fair Labor Standards Act gives you the right to a minimum wage. The Department of Labor’s Wage and Hour Division enforces these rights. Official websites use .govA .gov website minimum wages belongs to an official government organization in the United States. Insights on business strategy and culture, right to your inbox.Part of the business.com…