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 | Jun 26, 2024 | Bookkeeping
Because VAT allows for input tax credits, firms are incentivized to optimize supply chain efficiency, seeking suppliers with favorable tax claims and minimizing tax leakage. This structure encourages accurate record-keeping but can burden small businesses with...
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 | Jan 9, 2024 | Bookkeeping
Bankers need to be able to analyze a potential borrower’s financial history to determine whether they are a good risk for a loan. This is different from financial planners who charge a commission through the products they sell. Typically, fee-only financial planners...
by GarethIconic | Sep 26, 2023 | Bookkeeping
Update the Bank Book and enter the outstanding cheques, outstanding deposits, Bank Charges, etc. and the template will automatically display the difference. Try ClickUp for free today and experience software that actively supports your business’s growth and matches...
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...
