by adminamer | Jan 11, 2024 | Bookkeeping
Start by determining the total revenue generated by your company over the last year. Next, determine the value of your fixed assets, including both tangible and intangible assets. Finally, divide the total revenue by the value of the fixed assets to obtain the fixed...
by adminamer | Dec 4, 2023 | Bookkeeping
Purchase Returns and Allowances is a contra account and is used to reduce Purchases. Between the two accounting systems, there are differences in how you update the accounts and which accounts you need. In a perpetual system, the software is continuously updating the...
by adminamer | Oct 11, 2023 | Bookkeeping
The simultaneous equations are also known as the system of equations, in which it consists of a finite set of equations for which the common solution is sought. To solve the equations, we need to find the values of the variables included in these equations. So...
by adminamer | Aug 11, 2023 | Bookkeeping
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. Let’s say a company just incurred $100 million in Capex to purchase PP&E at the...
by adminamer | Jul 18, 2023 | Bookkeeping
An important distinction to note is the difference between COGS and operating expenses (commonly referred to as OpEx). In the Zappos example, while the factory machinery is part of COGS, the electricity, factory supervisor’s salary, and rent are not. While these costs...
by adminamer | Jun 22, 2023 | Bookkeeping
This is the preliminary amount of eligible forgivable expenses, accounting for any reduction due to not meeting the 75% pay requirement, but not yet accounting for the FTE requirement. Follow the same process as Table 1, but only considering employees who were paid an...
