Fixed costs are predictable and usually set to the same total each month. These costs can be adjusted, negotiated, or even eliminated if a reduction in bu...

there is name conflict issue IRS EIN Reference Number 101 means there is name conflict issue. For a Sole Proprietor applicant it could mean you already ha...

Definition: Cash receipts are the collection of money, typically from a customer, which increases (debits) the cash balance recognized on a company’s bala...

As a unit of account, money is used to express the value of goods and services. This function of money promotes economic efficiency and minimizes transact...

Consignment is a system where one person sends the goods to another so that the latter can sell those goods on behalf of the person who sends it in the fi...

Refrain from discrimination, discourage harassment and show concern for other people’s well-being. Be honest. Communicate openly, sharing your opinions, i...

Overtime and overtime premiums Shift allowances or shift premiums are similar to overtime premiums and are treated as an indirect labour cost. Is overtime...

EBIT is a company’s operating profit without interest expense and taxes. However, EBITDA or (earnings before interest, taxes, depreciation, and amortizati...

Some employees may be authorized to use petty cash to cover personal expenses, provided that money back. In such cases, the employee must add a record IOU...

Interest expense is a nonoperating expense when it is not part of a company’s main operations. By reporting interest expense as a nonoperating expense, it...