Accounting Tools

MARCH 23, 2023

Related Courses Accounting for Inventory How to Audit Inventory Inventory Management How to Account for Inventory The accounting for inventory involves determining the correct unit counts comprising ending inventory , and then assigning a value to those units. Review lower of cost or market.

Accounting 75

Accounting Accounting Financial Statements Auditing 75

Accounting Tools

SEPTEMBER 7, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory What is a Cost of Goods Manufactured Schedule? The cost of goods manufactured schedule is used to calculate the cost of all items produced during a reporting period.

Financial Statements 75

Financial Statements Cost Accounting Auditing Financial Accounting 75

Accounting Tools

NOVEMBER 1, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory Direct material is the physical items built into a product. The direct materials concept is used in cost accounting , where this cost is separately classified in several types of financial analysis.

Cost Accounting 75

Cost Accounting Financial Analysis Budgeting Auditing 75

Accounting Tools

APRIL 7, 2024

Related AccountingTools Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is Not Included in Manufacturing Overhead? Thus, the costs of such items as corporate salaries, audit and legal fees, and bad debts are not included in manufacturing overhead.

Cost Accounting 75

Cost Accounting Financial Statements Financial Reporting Auditing 75

accountingfly

MAY 9, 2024

Top Remote Accounting Candidates This Week Looking for remote accountants? With our ‘ Always-On Recruiting ‘ program, you can access highly skilled and experienced remote accountants with no upfront cost. Sign up now to receive the full list of top accounting candidates available weekly!

QuickBooks 52

QuickBooks Accounting Accounting CPA 52

Accounting Tools

JULY 11, 2024

Related AccountingTools Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory Direct Materials Use in Throughput Analysis Direct materials is an important concept in throughput analysis , where throughput is the revenue generated by a product sale, less all totally variable costs.

Billing 73

Billing Cost Accounting Auditing Accounting 73

accountingfly

AUGUST 15, 2024

Top Remote Accounting Candidates This Week Looking for remote accountants? With our ‘ Always-On Recruiting ‘ program, you can access highly skilled and experienced remote accounting candidates with no upfront cost. These are just a few of our top remote accounting candidates this week.

XERO 52

XERO CPA Accounting Accounting 52

Accounting Tools

JUNE 16, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory What are Inventoriable Costs? Inventoriable costs are included in the cost of a product. For a manufacturer, these costs include direct materials , direct labor , freight in , and manufacturing overhead.

Auditing 75

Auditing Cost Accounting Accounting Accounting 75

Accounting Tools

JULY 17, 2023

Related Courses Accounting for Inventory How to Audit Inventory Inventory Management What is the Cost of Inventory? Inventory cost includes the costs to order and hold inventory , as well as to administer the related paperwork. The cost of cost accounting personnel is charged to expense as incurred.

Cost Accounting 70

Cost Accounting Payroll Auditing Accounting 70

Accounting Tools

OCTOBER 27, 2023

Related Courses Bookkeeping Guidebook New Controller Guidebook What is Account Analysis? Account analysis involves an examination of the detailed line items comprising an account. Without proper account analysis, these accounts tend to build up amounts that should have been purged at some point in the past.

Accounting 40

Accounting Accounting Reconciling Account Reconciliation 40

AvidXchange

FEBRUARY 27, 2019

When complications occur in your accounts payable processes, they can hamper your business growth. In the worst scenarios, a poorly performing accounts payable process can even be a liability to your company. What is Accounts Payable Outsourcing? Outsourcing accounts payable isn’t for everyone.

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

Accounting Tools

JULY 27, 2023

Related Courses Credit and Collection Guidebook Bookkeeping Guidebook Budgeting CFO Guidebook Cost Accounting Fundamentals New Controller Guidebook Payables Management Payroll Management Project Accounting Someone wanting to enter the accounting field can choose to train for a number of possible positions.

General Ledger 40

General Ledger Accounting Accounting Financial Statements 40

Accounting Tools

JULY 15, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory What is COGS? COGS is the cost of those goods associated with product sales. The main categories of costs included in COGS are direct materials , direct labor , factory overhead , and production supplies.

Payroll 75

Payroll Auditing Cost Accounting Accounting 75

Accounting Tools

OCTOBER 22, 2023

Related Courses Accounting for Inventory Inventory Management What is Stock Taking? Stock taking is a common requirement of a periodic inventory system , and may also be required as part of a company's annual audit. Stock taking is the counting of on-hand inventory. The procedural steps required to do so are noted below.

Computation 75

Computation Reconciling Auditing Cost Accounting 75

Accounting Tools

OCTOBER 18, 2024

If a cost is capitalized, it is charged to expense over time through the use of amortization (for intangible assets ) or depreciation (for tangible assets ). A short-term variation on the capitalization concept is to record an expenditure in the prepaid expenses account, which converts the expenditure into an asset.

Auditing 75

Auditing Accounting Accounting Tax 75

Accounting Tools

SEPTEMBER 27, 2023

Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is an Allocation? An allocation is the process of shifting overhead costs to cost objects , using a rational basis of allotment.

Financial Statements 40

Financial Statements Auditing Cost Accounting Accounting 40

Accounting Tools

JULY 25, 2024

This means that costs incurred within a reporting period are assumed to be directly associated with it, and so must be recognized in the period incurred. Thus, administrative overhead is not capitalized into the cost of inventory, and so does not carry forward into future periods as an asset.

Cost Accounting 40

Cost Accounting Auditing Accounting Accounting 40

Accounting Tools

APRIL 22, 2023

Related Courses Contract Management Cost Accounting Project Accounting What are Allowable Costs? Allowable costs are those expenses specified in a contract that can be billed to the customer. The seller cannot bill any other costs through to the customer.

Billing 40

Billing Cost Accounting Auditing Accounting 40

Accounting Tools

APRIL 4, 2023

Related Courses Activity-Based Costing Cost Accounting Fundamentals What is Indirect Overhead? Indirect overhead is any overhead cost that is not part of manufacturing overhead. Thus, indirect overhead is not directly related to a company's production of goods or provision of services to customers.

Cost Accounting 40

Cost Accounting Auditing Accounting Accounting 40

Accounting Tools

APRIL 5, 2023

Related Courses Cost Accounting Fundamentals Operations Management What is Backflush Costing? Backflush costing is a streamlined approach to recording the cost of production only after goods have been produced. Several conditions are required before a business can reliably use backflush costing.

Cost Accounting 40

Cost Accounting Billing Auditing Accounting 40

Accounting Tools

OCTOBER 22, 2023

Related Courses Cost Accounting Fundamentals What are Indirect Expenses? Indirect expenses are those expenses that are incurred to operate a business as a whole or a segment of a business, and so cannot be directly associated with a cost object , such as a product, service, or customer.

Cost Accounting 40

Cost Accounting Auditing Accounting Accounting 40

Accounting Tools

JUNE 9, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals What is Job Costing? Job costing involves the accumulation of the costs of materials, labor, and overhead for a specific job. An alternative use is to see if any excess costs incurred can be billed to a customer.

Cost Accounting 40

Cost Accounting Billing Invoicing Budgeting 40

Accounting Tools

NOVEMBER 1, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory What is Direct Material Cost? Direct material cost is the cost of the raw materials and components used to create a product.

Cost Accounting 40

Cost Accounting Budgeting Billing Auditing 40

Accounting Tools

OCTOBER 19, 2024

Direct labor costs are most commonly associated with products in a job costing environment, where the production staff is expected to record the time they spend working on various jobs. These are also considered to be direct labor costs. This can be a substantial chore if employees work on a multitude of different products.

Payroll 40

Payroll Cost Accounting Billing Tax 40

Accounting Tools

JUNE 16, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory What are Indirect Materials? Indirect materials are materials used in the production process, but which cannot be linked to a specific product or job. They are charged to expense as incurred.

Record Keeping 40

Record Keeping Billing Auditing Cost Accounting 40

IMA's Count Me

JUNE 20, 2021

Contact Laura Boyd: [link] Hunter Douglas: [link] FULL EPISODE TRANSCRIPT Adam: (00:00) Welcome back to Count Me In, IMA's podcast about all things affecting the accounting and finance world. Well, I think technical skills are obviously very important in our role as accountants and finance professionals. Laura: (01:14) Sure.

Accounting 40

Accounting Accounting Cost Accounting Accounts Payable 40

Accounting Tools

APRIL 25, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals Product costing methods are used to assign a cost to a manufactured product. The main costing methods available are process costing , job costing , direct costing , and throughput costing. Process costing.

Financial Statements 40

Financial Statements Cost Accounting Billing Auditing 40

Accounting Tools

JULY 23, 2024

What is Material Costing? Material costing is the process of determining the costs at which inventory items are recorded into stock, as well as their subsequent valuation in the accounting records. Related Articles Accounting for Inventory Backflush Accounting Journal Entries for Inventory Transactions

Financial Reporting 40

Financial Reporting Auditing Cost Accounting Accounting 40

Accounting Tools

SEPTEMBER 26, 2023

Related Courses Cost Accounting Fundamentals What is an Efficiency Variance? For example, an efficiency variance can be calculated for the number of hours required to complete an audit versus the budgeted amount. Related Articles Accounting for Variances Cost Variance Analysis Exception Report

Budgeting 40

Budgeting Auditing Cost Accounting Accounting 40

Accounting Tools

SEPTEMBER 7, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory How to Create a Cost of Goods Sold Journal Entry The cost goods sold is the cost assigned to those goods or services that correspond to sales made to customers. Accumulate purchased inventory costs.

General Ledger 40

General Ledger Billing Cost Accounting Invoicing 40

Accounting Tools

SEPTEMBER 20, 2023

Related Courses Accounting for Inventory How to Audit Inventory What is a LIFO Layer? A LIFO layer refers to a tranche of cost in an inventory costing system that follows the last-in, first-out (LIFO) cost flow assumption. The cost accountant can provide them with this information.

Auditing 40

Auditing Cost Accounting Tax Accounting 40

Accounting Tools

MARCH 24, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory What is the Cost of Goods Manufactured? The cost of goods manufactured is the cost assigned to produced units in an accounting period.

Payroll 40

Payroll Auditing Cost Accounting Accounting 40

Accounting Tools

OCTOBER 23, 2023

Related Courses How to Conduct an Audit Engagement New Controller Guidebook The Difference Between the CPA and CMA Certifications There are a number of certifications available to the accountant, of which the best-known are the CPA ( certified public accountant ) and CMA ( certified management accountant ).

CPA 40

CPA General Ledger Budgeting Auditing 40

IMA's Count Me

NOVEMBER 16, 2022

Connect with our Speakers: John Macaulay: [link] Colleen Lucero: [link] Full Episode Transcript: [ 00:00:00] < Intro > Margaret: So in this special podcast, Celebrating 50 Years of the CMA, or the Certified Management Accountant program. I noticed in your bio that you did not study accounting as undergraduate major.

CPA 40

CPA Computation Management Accounting Accounting 40

IMA's Count Me

SEPTEMBER 21, 2022

Denny has spent a lifetime working in accounting and finance. He currently serves as a member of IMA's Financial Reporting Committee and as the executive in residence at the JM Toll School of Accounting, Terry College of Business at University of Georgia. How did you learn about management accounting?

Computation 40

Computation CPA Management Accounting Financial Reporting 40

IMA's Count Me

NOVEMBER 14, 2022

Connect with Simone : [link] Simone's Podcast: [link] CBM Network: [link] Full Episode Transcript: Adam: Welcome back to Count Me In the podcast that brings you inside the fascinating world of management accounting. From a management accountant's perspective, it's the story straight out of the wild west of business. Let me go do this.

CPA 40

CPA Management Accounting Accounting Accounting 40

Cloud Accounting Podcast

SEPTEMBER 9, 2022

Subscribe to the Earmark Accounting Podcast: [link] Get CPE for listening to podcasts with Earmark CPE: [link] Show Notes 2:02 – Review from Scott Michael Collier – Thank you! 43:04 – Intuit unveils new logo design | Accounting Today [link] It’s a brand new day for Intuit! Interested in sponsoring the Cloud Accounting Podcast?

Bookkeeping 40

Bookkeeping Billing Tax CPA 40