Going Concern Accounting and Auditing
The financial statements are available to be issued on June 15, 2017, so the reasonable period goes through June 15, 2018. But management knows it can’t make the balloon payment, and the bank has already advised that the loan will not be renewed. SAS 132 requires the auditor to inquire of management concerning their knowledge […]
10 Best Reconciliation Tools: Ultimate Guide 2025
With payment reconciliation software, you can fetch all payment records from different banks or other sources into one system. Matching payments with bank statements can then be done centrally without logging on to each of the bank’s services. Which is possible due to setting up bank connections with all the banks, so that the system […]
Construction Bookkeeping Services A Step-by-Step Guide
Regularly generate profit and loss statements, balance sheets, and cash flow How to leverage construction bookkeeping to streamline financial control reports. These statements provide a clear picture of your business’s financial health and allow for better decision-making. Begin by organizing your finances with a chart of accounts tailored to the construction industry. Include categories like […]
Cost of Goods Manufactured Calculator COGM & Formula Online Calculator Ultra
Your main manufacturing expenses are the cost of direct materials, direct labor, and manufacturing overheads. Calculating the Cost of Goods Manufactured (COGM) is essential for manufacturing businesses to gain insights into their production costs. Our COGM calculator simplifies this process, making it easier for businesses to manage their finances and make informed decisions. Whether you’re […]
Payback Period: Formula and Calculation Examples
For example, if a company might lose a lease or a contract, the sooner they can recoup any investments they’re making into their business the less risk they have of losing that capital. Let’s assume that you have an investment opportunity that requires you to invest $2,500 that will give you 5 different cash flows. […]
Contribution Margin Ratio Formula Per Unit Example Calculation
Based on the contribution margin formula, there are two ways for a company to increase its contribution margins; They can find ways to increase revenues, or they can reduce their variable costs. The contribution margin is computed as the selling price per unit, minus the variable cost per unit. Also known as dollar contribution per […]
What Is Billing in Accounting Billing Process Explained
Also, to speed up the billing process, you can create personalized invoices and send the customers instructions to get paid faster. Luckily, you can adopt some best practices today to improve the billing process, ensuring that you get paid on time and strengthening the relationship with your customers. Sometimes clients don’t pay on time, your […]
Construction Accounting 101: A Basic Guide for Contractors
This information is also used by your building accounting system to make sure that reports are correct. In order to calculate how much of the contract they’ve earned for a billing period, they might choose among a number of methods, including cost-to-cost and estimated percent complete. According to the IRS, only construction businesses with less […]
