Accounting Tools

APRIL 29, 2023

Related Courses Cost Accounting Fundamentals Cost per unit information is needed in order to set prices high enough to generate a profit. The cost per unit is derived from the variable costs and fixed costs incurred by a production process, divided by the number of units produced. Variable costs, such as direct materials , vary roughly in proportion to the number of units produced, though this cost should decline somewhat as unit volumes increase, due to greater volume discounts.

Cost Accounting 75

Cost Accounting Accounting Accounting 75

Accounting Tools

APRIL 29, 2023

Related Courses Budgeting Financial Forecasting and Modeling What is a Budget? A budget is a quantified expectation for what a business wants to achieve. Its characteristics are: The budget is a detailed representation of the future results, financial position , and cash flows that management wants the business to achieve during a certain period of time.

Budgeting 75

Budgeting 75

Accounting Tools

APRIL 29, 2023

Related Courses Accounting for Leases What is a Leveraged Lease? A leveraged lease is a tax-advantaged lease arrangement in which a lessor borrows funds to acquire an asset that is then leased to a lessee. In this situation, the lender holds title to the leased asset, while all lessee payments are collected by the lessor and passed to the lender. The lender can repossess the asset in the event of a lessee payment default.

Collections 74

Collections Tax Accounting Accounting 74

Accounting Tools

APRIL 29, 2023

Related Courses How to Audit Liabilities The Balance Sheet What are Long-Term Liabilities? Long-term liabilities are those obligations of a business that are not due for payment within the next twelve months. This information is separately reported, so that investors , creditors , and lenders can gain a better understanding of the obligations that a business has taken on.

Financial Statements 40

Financial Statements Auditing Tax 40

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

Accounting

Accounting Tools

APRIL 29, 2023

What are Loans Receivable? Loans receivable is an account in the general ledger of a lender , containing the current balance of all loans owed to it by borrowers. This is the primary asset account of a lender. A subsidiary ledger may be used to store the detail on each of the loans outstanding, where the ending balance in the subsidiary ledger matches the ending balance for the loans receivable account in the general ledger.

General Ledger 40

General Ledger Accounting Accounting 40

Accounting Tools

APRIL 29, 2023

Related Courses Business Ratios Guidebook Key Performance Indicators The Interpretation of Financial Statements What are Liquidity Ratios? Liquidity ratios are measurements used to examine the ability of an organization to pay off its short-term obligations. Liquidity ratios are commonly used by prospective creditors and lenders to decide whether to extend credit or debt , respectively, to companies.

Financial Statements 40

Financial Statements Accounting Accounting 40

Accounting Tools

APRIL 29, 2023

Related Courses Corporate Finance Treasurer's Guidebook What is a Liquidating Dividend? A liquidating dividend is a distribution of cash or other assets to shareholders , with the intent of shutting down a business. This dividend is paid out after all creditor and lender obligations have been settled, so the dividend payout should be one of the last actions taken before the business is closed.

Corporate Finance 40

Corporate Finance 40

Accounting Tools

APRIL 29, 2023

Related Courses Managerial Economics What is a Laggard Industry? A laggard industry is a market niche that is growing at a reduced rate from the general economy or shrinking. There are numerous reasons for this behavior, such as being negatively impacted by technological change, the shifting of work to a lower-cost country, competition from adjacent niches, and the negative effects of tax laws.

Tax 40

Tax 40

Accounting Tools

APRIL 29, 2023

Related Courses Budgeting Capital Budgeting What is a Line Item Budget? A line item budget is a form of budget presentation that clusters proposed expenses by department or cost center. This method of aggregation more easily shows which departments and cost centers are absorbing the bulk of an entity's funds. The presentation typically shows the actual expenditure or budget from the prior period for comparison purposes, so that one can quickly see if there are significant changes budgeted from t

Budgeting 40

Budgeting 40

Accounting Tools

APRIL 29, 2023

Related Courses Budgeting Capital Budgeting What is a Long-Range Budget? A long-range budget is a financial plan that extends for more than one year into the future. This type of budget typically covers a five-year period and is focused on the strategic direction of the business. The orientation of this budget is toward new product planning, capital investments , acquisitions , and risk management.

Budgeting 40

Budgeting 40

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

Accounting Tools

APRIL 29, 2023

Related Courses New Manager Guidebook What is Line Authority? Line authority is the power given to someone in a supervisory position to mandate actions by subordinates. This authority is given so that an organization can attain its stated goals and objectives. It is a common characteristic of the hierarchical organizational structure. Examples of managers within a business who have line authority are the controller, engineering manager, production manager, and sales manager.

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40

Accounting Tools

APRIL 29, 2023

Related Courses Essentials of Business Law What is Legal Liability? A legal liability is a commitment imposed on a party as the result of a contract or civil action. A legal liability may be covered by insurance. It may also be voided by the legal structure of a business; thus, the legal liabilities of a corporation do not extend to its shareholders.

40

40

Accounting Tools

APRIL 29, 2023

Related Courses Budgeting Capital Budgeting What is a Life-Cycle Budget? A life-cycle budget is an estimate of the total amount of sales and profits to be garnered from a product over its estimated life span. This estimate includes the costs to develop, market, and service the product. Thus, the time span covered is from the initiation of a product as a design concept through its estimated withdrawal from the market.

Budgeting 40

Budgeting Customer Service 40

Accounting Tools

APRIL 29, 2023

Related Courses How to Audit Liabilities The Balance Sheet What is Long-Term Debt? Long-term debt is a financial obligation for which payments will be required after one year from the measurement date. This information is used by investors , creditors , and lenders when examining the long-term liquidity of a business. Presentation of Long-Term Debt Long-term debt is classified in a separate line item in a company's balance sheet , in the long-term liabilities section.

Auditing 40

Auditing 40

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Accounting

Accounting Tools

APRIL 29, 2023

Related Courses Bankruptcy Tax Guide Corporate Bankruptcy What is a Loan Workout? A loan workout is an agreement between a lender and a delinquent borrower to put the borrower's loan payments back on track. A loan workout can involve a variety of adjustments to the original loan agreement, such as spreading the payments over a longer period of time, writing off part of the loan balance, reducing the interest rate , and so forth.

Tax 40

Tax 40

Accounting Tools

APRIL 29, 2023

Related Courses How to Conduct an Audit Engagement What is a Long-Form Report? A long-form report is an expanded form of audit report that is issued by an external auditor.

Financial Statements 40

Financial Statements Auditing Accounting Accounting 40

Accounting Tools

APRIL 29, 2023

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is a Ledger? A ledger is a book or database in which double-entry accounting transactions are stored and summarized. This ledger is the central repository of information needed to construct the financial statements of an organization. It is also a key source of information for auditors.

General Ledger 40

General Ledger Bookkeeping Financial Statements Accounting 40

Accounting Tools

APRIL 29, 2023

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is a Lump-Sum Purchase? A lump-sum purchase occurs when several assets are acquired for a single price. Each of the assets must be recorded separately as a fixed asset in the accounting records ; to do so, the purchase price is allocated among the various acquired assets based on their fair market values.

Auditing 40

Auditing Accounting Accounting 40

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