Accounting Tools

JUNE 20, 2023

Related Courses Bookkeeping Guidebook CFO Guidebook New Controller Guidebook What are the Types of Accounting? There are several types of accounting that range from auditing to the preparation of tax returns. Accountants tend to specialize in one of these fields, which leads to the different career tracks noted below.

Accounting 75

Accounting Accounting Financial Statements Auditing 75

Accounting Tools

JUNE 22, 2024

Formula for the Cost of Goods Sold The cost of goods sold is calculated by aggregating the period-specific expense listed in each of the general ledger accounts that are designated as being associated with the cost of goods sold.

General Ledger 98

General Ledger Accruals Cost Accounting Invoicing 98

SMB Accounting and Consulting

DECEMBER 2, 2020

Many small business government contractors are exempt from complying with cost accounting standards (CAS) and defined by the code of federal regulations (CFR). However, compliance with generally accepted accounting principles (GAAP) is required. These should be integrated in any federal contractors accounting policies.

Accruals 87

Accruals Financial Records Accounting Accounting 87

Accounting Tools

OCTOBER 25, 2023

Related Courses Cost Accounting Fundamentals What is Cost Incurred? A cost incurred is a cost for which a business has become liable, even if it has not yet received an invoice from a supplier as documentation of the cost. This is an accrual accounting concept.

Accruals 40

Accruals Cost Accounting Invoicing Billing 40

Accounting Tools

OCTOBER 1, 2023

Related Courses Cost Accounting Fundamentals What is an Incurred Cost? An incurred cost is a cost arising from the consumption of an asset or service, or from a loss that has been sustained. Related Articles Accounting Cost Actual Cost Committed Cost Consumed Cost Direct Cost Explicit Cost

Accruals 40

Accruals Financial Statements Cost Accounting Budgeting 40

Accounting Tools

JULY 12, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals What is Factory Burden? Factory burden is those costs incurred in the production process, other than direct costs. These costs are accumulated into cost pools at the end of each reporting period, and then allocated to units of production.

Accruals 40

Accruals Financial Statements Cost Accounting Tax 40

Accounting Tools

AUGUST 23, 2023

Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is the Manufacturing Overhead Rate? A manufacturing overhead rate is the standard amount of factory overhead cost assigned to each unit of production.

Accruals 40

Accruals Cost Accounting Billing Accounting 40