Construction-in-progress are generally not classified as inventory as it would not be in-line with IAS2.9 (Inventories to be stated at lower of cost or NRV). The cash outflows related to CIP are typically classified under investing activities, reflecting the

All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. The Accounting Rate of Return can be used to measure how well a project or investment does in terms of book profit.

Double-entry bookkeeping can appear complicated at first, but it’s easy to understand and use once the basic concepts have been learned. To illustrate how single-entry accounting works, say you pay $1,500 to attend a conference. Double-entry bookkeeping produces reports that

ContentGross Profit vs Net Profit FAQsGross profit vs gross profit marginGross profit formulaGross profits + net profits = informed decisions.What is the difference between gross and net profit?Importance of gross profit in assessing businessWhat is gross revenue? You need a clear

How your team uses an online payroll system will vary depending on the size of your team, the expertise of your employees and the system you use. Most services come with excellent sales and customer service reps who can help

A fixed asset does not necessarily have to be fixed (i.e., stationary or immobile) in all senses of the word. Edriaan Koening began writing professionally in 2005, while studying toward her Bachelor of Arts in media and communications at the

The average payment period can help the management team see how efficient the company has been over the past year with such credit decisions. The challenges faced by businesses in maintaining adequate cash flow and keeping up with demand cannot

Do you remember how you vigorously hunted for customers in the early days? Chances are that spark has dimmed over time, and you may have lost contact with customers to focus on other aspects of the business. By revisiting your

If they do not, this can reveal an error that must be corrected or possible fraud. Any time you pay a vendor or supplier for goods and services that they’ve supplied to your business, you have two choices. You can

Entrust your tax preparation services to Unison Globus and solve a world of benefits. Specializing in tax preparation outsourcing services, we cater to both businesses and CPA firms, offering a blend of professional acumen and approachability. By partnering with us,