How to Calculate the Total Manufacturing Cost in Accounting Chron com

The cost of direct labor includes the labor, payroll taxes, and benefits of the production crew that produces goods, such as machine operators, assembly line operators, painters, and so forth. Factory overhead is the costs incurred during the manufacturing process, not including the costs of direct labor and direct materials. Overhead costs include rent, utilities, […]

Understanding Face Value: A Guide for Investors

It goes without saying that face value is an important financial instrument. But it doesn’t have a great deal of relevance when it comes to the amount of money that an investor has to pay in order to buy a bond or a share of stock. Years ago, face value was used to make sure […]

Pros and Cons of Offering Employee Loans

A Form W-2 must be prepared even if all of the sick pay is nontaxable (see Box 12 below). Milton Manning, an experienced tile setter, orally agreed with a corporation to perform full-time services at construction sites. Milton uses personally owned tools and performs services in the order designated by the corporation t-account definition and […]

Employee loans: What you need to know

You have a sick pay plan or system if the plan is in writing or is otherwise made known to employees, such as by a bulletin board notice or your long and established practice. Some indications that you have a sick pay plan or system include references to the plan or system in the contract […]

Accumulated Depreciation Definition, Example, Sample

The estimate for units to be produced over the asset’s lifespan is 100,000. Put another way, accumulated depreciation is the total amount of an asset’s cost that has been allocated as depreciation expense since the asset was put into use. Amortization is an accounting term that essentially depreciates intangible assets such as intellectual property or […]

Balance sheet vs trial balance

As CEO and Co-Founder, Mike leads FloQast’s corporate vision, strategy and execution. Prior to founding FloQast, he managed the accounting team at Cornerstone OnDemand, a SaaS company in Los Angeles. A trial balance is prepared to identify any numerical errors that may have taken place in the double-entry accounting system. Also, the auditors’ signature is […]

‎MassageBook Manager on the App Store

Power Diary is designed with the busy massage therapist in mind. Our easy-to-navigate features and functionality make it simple to find what you need when you need it. We’ll build you customized app that puts your business on your clients’ phones, complete with your logo, colors, and images. Your website is seamlessly integrated with […]

The Complete Guide to HOA Financial Management

Let’s be honest — collecting monthly fees and assessments from homeowners can be tough. However, it can be twice as difficult when you have no records of their debts. The Accounts Payable report shows you all of the association’s unpaid expenses. The format typically consists of the vendors owed, the terms of payment, and the amounts […]

Simplify your eBay Accounting

If you’re unsure whether your eBay selling activity qualifies as a business, consult a tax professional. The fees are typically a percentage of the total sale price plus a fixed fee per transaction. Therefore, sellers should factor in these fees when setting their prices to ensure they are still making a profit. Therefore, you should […]