Category: Bookkeeping

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There is only one real disadvantage of using the cash receipts journal. And that is that it only takes into consideration the cash basis of accounting. The cash receipts journal is used to track transactions where a shop or wholesaler sells products to a customer and receives payment in cash. A cash disbursements journal is…

The UT accounting program has separate accounting accreditation from AACSB International and is one of the first accounting programs to have earned this designation. As an accredited program, the UT accounting program continuously meets or exceeds a rigorous set of international accreditation standards and is peer reviewed on a regular basis. The undergraduate accounting curriculum…

Discover what budgeting is, the goals and questions your budget needs to answer, and why creating a budget is essential for any business. There’s a process to follow that may include mediation or an appeal if the taxpayer disagrees. Key Indicators of Audit Report Delays From a compliance standpoint, delayed audits can impede a company’s…

Consider exploring FinOptimal’s managed accounting services for expert assistance. Regularly checking your cash flow—the money coming in and out—is essential. Understanding your runway (how long your cash will last) and your net profit margin (profit per dollar of revenue) are key metrics. Analyzing customer and vendor data from your financial records provides valuable insights for…

However, none of it will include the fixed costs since they will not change due to volume fluctuation. Incremental costs help to determine the profit maximization point for a company or when marginal costs equal marginal revenues. If a business is earning more incremental revenue (or marginal revenue) per product than the incremental cost of…