Bookkeeping

By considering both explicit and implicit costs, you can calculate economic profit, which gives a far more accurate picture of whether a venture is truly worthwhile. It helps you see beyond the surface-level accounting numbers and understand the full economic consequences of your choices. A business might have a positive accounting profit but a negative …

Difference Between Explicit Cost and Implicit Cost with Comparison Chart Read More »

By considering both explicit and implicit costs, you can calculate economic profit, which gives a far more accurate picture of whether a venture is truly worthwhile. It helps you see beyond the surface-level accounting numbers and understand the full economic consequences of your choices. A business might have a positive accounting profit but a negative …

Difference Between Explicit Cost and Implicit Cost with Comparison Chart Read More »

Affinity Plus Credit Union offers great checking options for those looking to manage their funds. With the Better Than Free Checking account, you can enjoy no minimum balance, no monthly fees, and no ATM fees at partner ATMs—ensuring a hassle-free banking experience. Huntington Bank offers extensive online and mobile banking services. Changes to an online obituary …

9 Best Banks and Credit Unions in Minnesota of 2025 Read More »

Regular physical counts and reconciliations are still necessary to verify the accuracy of recorded data, which adds to the workload. These formulas play a crucial role in managing inventory efficiently, optimizing stock levels, determining reorder points, and understanding the financial performance of the business. Businesses use them to make data-driven decisions and maintain a competitive …

What is an Inventory Management System? A Guide Read More »

Accounts Payable is created because your company has received a formal invoice from the vendor company for services already provided, and it’s now a short-term debt with payment terms on the invoice. The U.S. Securities and Exchange Commission (SEC) requires publicly traded businesses to follow a set of generally accepted accounting principles, or GAAP. Accrual-based …

Accounting Methods For Small Contractors Read More »

HighRadius R2R solution provides a transformative approach to optimizing accounting processes, ensuring organizations stay ahead in the dynamic landscape of financial management. HighRadius propels organizations towards a 30% faster close, with Journal Entry Management significantly contributing to an accelerated month-end close by offering automated posting options. It further supports reconciliation by automating the posting of …

Accrual Accounting vs Cash Basis Accounting: Whats the Difference? Read More »

In brief, the IRS wants to confirm that the foundation, charity, or other nonprofit concern is following the prescribed rules of reporting and fulfilling the purpose upon which its tax exemption is based. accounting services for nonprofit organizations As with audits, the appropriate company officer will receive a written heads-up that a compliance check is …

Auditing Nonprofit Organizations: Key Aspects and Best Practices Read More »

Preparing for an audit also helps ensure the accuracy of your financial records, which can help reduce discrepancies found by the audit. Either way, if you need help with this or any stage of the audit process, don’t hesitate to reach out to financial professionals like the experts at Jitasa. Our years of experience working …

Does your nonprofit need to have an independent audit? Read More »

They also have the experience to provide litigation suport and forensic accounting. Willie Cooper, Jr., CPA focuses on providing high customer satisfaction and delivering reliable work. TRP Summer is a firm of accounting and tax professionals in Fayetteville that specializes in accounting and financial services in the metro. The firm was founded in 1982 with …

Fayetteville, NC CPA Firm Home Page Read More »

The meticulous crafting of a budget is a collaborative effort that requires input from various stakeholders to ensure it reflects the realistic capabilities and goals of the organization. Strategic pricing decisions can also result in favorable variances. Implementing dynamic pricing strategies that respond to market conditions, such as raising prices during high-demand periods or offering …

What does favourable and unfavourable variance mean? Read More »