Accounting Tools

JUNE 22, 2024

This list usually includes the following accounts: Direct materials Merchandise Direct labor Factory overhead Freight in and freight out Related AccountingTools Courses Accounting for Inventory Cost Accounting Fundamentals The list may also include commission expense, since this cost usually varies with sales.

General Ledger 98

General Ledger Accruals Cost Accounting Invoicing 98

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

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

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

Accounting Tools

JULY 9, 2023

Related Courses Activity-Based Costing Cost Accounting Fundamentals What is a Fixed Cost? A fixed cost is a cost that does not increase or decrease in conjunction with any activities. For example, a consulting business has few fixed costs, while most of its labor costs are variable.

Accruals 40

Accruals Financial Analysis Cost Accounting Tax 40

Accounting Tools

JUNE 20, 2023

Forensic Accounting Those in the forensic accounting field are involved in the reconstruction of financial information when a complete set of financial records is not available. It is usually a consulting position, since few businesses require the services of a full-time forensic accountant.

Accounting 75

Accounting Accounting Financial Statements CPA 75