Category Archives: Bookkeeping

The purchase price variance is the variance created by the actual price paid to a vendor for material compared to the standard cost. The purchase price variance is an essential measurement to understand price changes in products and services. Proper utilization of this metric yields a crucial understanding of the procurement organization’s efficiency in achieving […]

The purchase price variance is the variance created by the actual price paid to a vendor for material compared to the standard cost. The purchase price variance is an essential measurement to understand price changes in products and services. Proper utilization of this metric yields a crucial understanding of the procurement organization’s efficiency in achieving […]

In addition to passing the CPA exam, public accountants must also meet continuing education requirements set by state boards of accountancy. Typically, management accountants have at least a bachelor’s degree in accounting or a related field. Many management accountants also have a master’s degree in accounting, business, finance, or a related field. Different types of […]

If Connie’s Candy produced 2,200 units, they should expect total overhead to be $10,400 and a standard overhead rate of $4.73 (rounded). In addition to the total standard overhead rate, Connie’s Candy will want to know the variable overhead rates at each activity level. Standard costs are used to establish the flexible budget for variable […]

You need to calculate operating income in order to accurately calculate your operating margin. If you’re still confused about what to subtract from total revenue to find your operating income, keep reading. Revenue, or net sales, reflects the total amount of income generated by the sale of goods or services. Revenue refers only to the […]

A balance report provides all of the end balances required to create your income statement. Statement of Profit and Loss report the entity’s main revenues and expenses. It is the choices of entities to consider present them by nature or function. Other revenues and expenses like revaluation gain or loss, exchange difference, and so on […]

Because of this, it is crucial to look at the cash flow statement along with the income statement to get a clearer picture of a company’s financial situation. By looking at the statement, you can see whether the company has enough cash flowing in to fund its operations, pay its debts, and return money to […]

Thrive @ HarQuin is a bookkeeping organization that offers accessible financial services to pastors and church ministries in the Columbus area. Past clients commend the staff of Thrive @ HarQuin bookkeeping services columbus for delivering competent, accurate, and concise service. Charitax is an accounting firm in Columbus that is dedicated to supporting charitable organizations nationwide […]

The level of this fee varies wildly between franchise systems. According to the British Franchise Association, a figure of 7-8% is roughly average. Some franchise systems also charge an additional marketing fee. Make sure you include loan repayments in your budget and ring-fence that money so you won’t be tempted to use it for other […]

If financial terms like income and expense, debits and credits, and balance sheet make you cringe, you probably aren’t alone. And unless you have the budget to hire an in-house accounting department, you might not know what your options are in terms of making sure your bookkeeping gets done properly and on time. Yes, virtual […]