In other words, period costs are related to the services consumed over the period in question. These costs are identified as being either direct materials, direct labor, or factory overheads, and they […]
The difference between total assets and total liabilities on the stockholders’ equity statement is usually measured monthly, quarterly, or annually. It can be found on the balance sheet, one of […]
Revenue can be generated from various sources, such as product sales, rendering services, or interest and dividend income from investments. Although financial statements provide a wealth of informatio […]
“Reasonably possible” means that the chance of the event occurring is more than remote but less than likely. Contingent liabilities are a type of liability that may be owed in the future as the result […]
Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. On Thursday, you have one eighth left, and you drink half of that—so you’ve only got one […]
A bank reconciliation statement is a document that outlines the differences between a company’s cash book and its bank statement. It includes adjustments for outstanding checks, deposits in tran […]
It’ll come at a cost, but it may be worth it to avoid the possibility of repossession. If you know you can’t make your payments now and your lender isn’t willing to work with you, consider speak […]