ProsperOps

DECEMBER 13, 2023

In this article, you’ll learn more about Compute Savings Plans and how ProsperOps can help you optimize your cloud cost strategy. Compute Savings Plans pricing differs significantly from other AWS savings options, such as Reserved Instances (RIs). One effective solution for reducing AWS costs is to use Compute Savings Plans.

Computation 130

Computation Budgeting Billing 130

Accounting Tools

OCTOBER 27, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals What is Underapplied Overhead? Underapplied overhead refers to the amount of actual factory overhead costs that are not allocated to units of production.

Cost Accounting 40

Cost Accounting Accounting Accounting 40

Accounting Tools

SEPTEMBER 19, 2023

Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is Overhead Application? Overhead application is the assignment of factory overhead costs to the units produced in a reporting period. Overhead application is conducted in order to capitalize certain overhead costs into inventory.

Cost Accounting 40

Cost Accounting Accounting Accounting 40

Accounting Tools

JUNE 6, 2023

Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is a Predetermined Overhead Rate? A predetermined overhead rate is an allocation rate that is used to apply the estimated cost of manufacturing overhead to cost objects for a specific reporting period.

Reconciling 40

Reconciling Cost Accounting Accounting Accounting 40

Accounting Tools

JULY 9, 2023

Related Courses Cost Accounting Fundamentals What is the Variable Overhead Efficiency Variance? The variable overhead efficiency variance is the difference between the actual and budgeted hours worked, which are then applied to the standard variable overhead rate per hour.

Budgeting 40

Budgeting Cost Accounting Accounting Accounting 40

Accounting Tools

OCTOBER 8, 2023

The overabsorbed concept applies to factory overhead costs. These costs are not directly associated with the production of specific goods, so they must be allocated to goods instead, using a standard overhead rate. Related Articles Overapplied Overhead

Financial Statements 40

Financial Statements Cost Accounting Accounting Accounting 40

Accounting Tools

OCTOBER 11, 2023

This approach applies actual direct costs to a product, as well as a standard overhead rate. Standard costing is the practice of substituting an expected cost for an actual cost in the accounting records. Subsequently, variances are recorded to show the difference between the expected and actual costs.

Cost Accounting 40

Cost Accounting Accounting Accounting 40

Accounting Tools

SEPTEMBER 26, 2023

The efficiency variance is the difference between the actual unit usage of something and the expected amount of it. However, the efficiency variance can also be applied to services. Types of Efficiency Variances The efficiency variance can be applied to direct materials.

Budgeting 40

Budgeting Auditing Cost Accounting Accounting 40

Accounting Tools

JUNE 12, 2023

Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is Applied Overhead? Applied overhead is the amount of overhead cost that has been applied to a cost object. Under these frameworks, applied overhead is included in the financial statements of a business.

Financial Statements 40

Financial Statements Cost Accounting Financial Reporting Accounting 40

Accounting Tools

JULY 8, 2023

A spending variance is the difference between the actual and expected (or budgeted) amount of an expense. This concept is commonly applied to the areas noted below. Administrative Overhead The variance calculation is normally applied to each individual line item within this general category of expense.

Budgeting 40

Budgeting Cost Accounting Accounting Accounting 40

Accounting Tools

JUNE 9, 2023

Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is Overhead Allocation? Overhead allocation is the apportionment of indirect costs to produced goods. Types of Overhead There are two types of overhead, which are administrative overhead and manufacturing overhead.

Cost Accounting 40

Cost Accounting Tax Accounting Accounting 40

Accounting Tools

JUNE 16, 2023

How to Account for Indirect Materials Indirect materials can be accounted for in one of two ways: They are included in manufacturing overhead , and are allocated to the cost of goods sold and ending inventory at the end of each reporting period based on some reasonable method of allocation. They are charged to expense as incurred.

Record Keeping 40

Record Keeping Billing Auditing Cost Accounting 40

Accounting Tools

NOVEMBER 2, 2023

Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals Overhead is those costs required to run a business, but which cannot be directly attributed to any specific business activity, product, or service. Thus, overhead costs do not directly lead to the generation of profits.

Cost Accounting 40

Cost Accounting Accounting Accounting Tax 40

Accounting Tools

JUNE 9, 2023

Job costing involves the accumulation of the costs of materials, labor, and overhead for a specific job. If spoilage or scrap is created, then normal amounts are charged to an overhead cost pool for later allocation , while abnormal amounts are charged directly to the cost of goods sold.

Cost Accounting 40

Cost Accounting Billing Invoicing Budgeting 40

Accounting Tools

SEPTEMBER 21, 2023

Pricing strategies can be used to pursue different types of objectives, such as increasing market share , expanding profit margin , or driving a competitor from the marketplace. Related Courses Business Strategy Revenue Management What are Pricing Strategies?

Billing 40

Billing Accounting Accounting 40

Accounting Tools

MAY 18, 2024

The direct costing concept is extremely useful for short-term decisions, but can lead to harmful results if used for long-term decision making, since it does not include all costs that may apply to a longer-term decision. It does not consider fixed costs , which are assumed to be associated with the time periods in which they were incurred.

Financial Statements 52

Financial Statements Financial Reporting Financial Analysis Cost Accounting 52

Accounting Tools

DECEMBER 30, 2023

Work in progress (WIP) refers to partially-completed goods that are still in the production process. These items may currently be undergoing transformation in the production process, or they may be waiting in queue in front of a production workstation. Work in progress items do not include raw materials or finished goods.

Auditing 40

Auditing Accounting Accounting 40

Cloud Accounting Podcast

JUNE 28, 2020

Square Get in Touch Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes , or Podchaser. Interested in sponsoring the Cloud Accounting Podcast?

Bookkeeping 40

Bookkeeping QuickBooks Payroll Auditing 40

Cloud Accounting Podcast

MAY 18, 2020

Finance 46:34 - Why Are the Public Markets Strong When Unemployment is Terrible? Answer: The Cloud | SaaStr 48:09 - Digital adoption through COVID-19 and beyond - McKinsey Get in Touch Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary.

Payroll 40

Payroll Billing Deposits Auditing 40

Cloud Accounting Podcast

JULY 28, 2020

Employees Say It Had Much Bigger Problems. We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes , or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? DIAL (202) 695-1040 Need Accounting Conference Info?

Bookkeeping 40

Bookkeeping QuickBooks Billing Tax 40