Business outcomes are the highest-level objectives that you’re chasing. Think of these as the main priority of the company as a whole. One of the best ways to achieve your goals is to be realistic, but at the same time, pursue what is important. It all comes down to prioritizing what is important and dedicating…

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ABS costing will display the proper profit calculation instead of variable costing when manufacturing is carried out in anticipation of future sales (such as seasonal sales). General or common overhead costs like rent, heating, electricity are incurred as a whole item by the company are called Fixed Manufacturing Overhead. These are expenses related to the…

Download this case study for free and learn how you can implement similar strategies to reduce bad debts and improve your financial stability. Bad debt expense is an accounting term that refers to the estimated amount of uncollectible debts that a business is likely to incur during a given period. It is recorded as an…

This graph compares asset value depreciation given straight line, sum of years’ digits, and double declining balance depreciation methods. Original cost of the asset is $10,000, salvage value is $1400, and useful life is 10 years. Salvage value is important in accounting as it displays the value of the asset on the organization’s books once…

See how PTO Genius saves you time and money while preventing burnout and compliance issues. Try our next-generation time off tracking, automation, and compliance platform for free today. Conversion enables employees to convert their extra vacation into cash, retirement contributions, student loan payments, college savings, and more. PTO conversion is basically an evolved form of…

Debt ratios can vary widely depending on the industry of the company in question. The sum of all these obligations provides an encompassing view of the company’s total financial obligations. A company in this case may be more susceptible to bankruptcy if it cannot repay its lenders. Thus, lenders and creditors will charge a higher…

Knowing these ratios is good, but how about action points to improve a company’s debt ratio? Perhaps 53.6% isn’t so bad after all when you consider that the industry average was about 75%. The result is that Starbucks has an easy time borrowing money—creditors trust that it is in a solid financial position and can…

It approaches a bank and takes out a $50,000 loan, agreeing to repay it with interest over three years. In this situation, the manufacturing company would record the $50,000 as notes payable, a liability account. This is because there’s a written promissory note detailing the loan terms and repayment schedule. Notes payable entries always involve…

Hours, dollar and labor allocations seamlessly flow into the system from Paylocity’s Time and Labor tools. You can pay your employees via direct deposit early to help retain top talent and in their country’s currencies. Paycom offers a comprehensive solution for all small business HR needs, from recruiting and hiring to talent management, payroll and…