by GarethIconic | Apr 7, 2025 | Bookkeeping
KPMG reports on actions taken by the Statutory Accounting Principles Working Group on the February 2024 conference call. Integrate effortlessly with ERP systems and the ONESOURCE suite for comprehensive functionality. Insurance companies typically hold...
by GarethIconic | Sep 2, 2024 | Bookkeeping
Let’s consider a manufacturing company that has established a budget for its fixed overhead costs. Fixed overhead volume variance is further divided into two more components; fixed overhead capacity variance and fixed overhead efficiency variance. Spending variance...
by GarethIconic | Apr 12, 2024 | Bookkeeping
Export supplies are frequently paid by the buyer at sight, and the bank/cash account is credited by ₹198,000, being the net amount received by the supplier. Addressing impairment and write-offs in rent receivable is a nuanced aspect of lease accounting that requires...
by GarethIconic | Aug 25, 2023 | Bookkeeping
Cash comprises currency, coins, petty cash, checking account balance, savings account balance, money orders, and bank drafts. Cash equivalents refer to securities that can be liquidated within three months. It includes short-term government bonds, marketable...
by GarethIconic | May 29, 2023 | Bookkeeping
Companies apply a flat percentage to their credit sales for the period based on historical collection rates. This accounting practice not only provides a more accurate picture of a company’s financial health but also aligns with key accounting principles that...
by GarethIconic | Feb 9, 2023 | Bookkeeping
The process of hiring the right accountant is similar to that of hiring any other employee for your business. Make sure you ask detailed questions about your contacts’ experiences with each referral. Ask how long they’ve worked together, what areas of accounting they...
