Petty Cash Financial Accounting
Petty cash is a designated sum of money that is kept on hand for small, everyday expenses that may come up. Having petty cash on hand eliminates the need to constantly write cheques or use company credit cards for these small purchases. It also helps to streamline the accounting process, as all expenses are recorded […]
AI Agents Valuation Multiples: 2025 Insights & Trends Finro Financial Consulting
Understanding and correctly applying these aspects in Excel valuation models can greatly enhance the precision and reliability of the financial analysis, ensuring that finance professionals provide accurate and actionable insights. Comparable Company Analysis (often called “comps”) is a relative valuation method that evaluates a company’s market value relative to similar companies. This method is particularly […]
3 Best Accounting Firms in Detroit, MI
75% of our customers agree that our bookkeeping services saves them time to focus on growing their business. Supporting Strategies provides outsourced bookkeeping services, controller services and operational support to growing businesses. Your bookkeeping team consists of 3 professionally trained bookkeepers, including one senior bookkeeper who reviews all of your monthly statements and your Year […]
Capital Lease vs Operating Lease Difference and Comparison
With Wafeq, you can accurately track all your expenses and easily prepare detailed financial reports to simplify cost accounting and analyze expenses efficiently. Such leases are common in the construction industry because construction equipment is a costly purchase. By leasing out an asset, a business can operate/use it for the term decided and then return […]
Introduction to Multiple Linear Regression
Each split tries to reduce the variance in the target variable. It’s useful for predicting things like house prices based on size. Linear regression assumes a clear link between the input and output. The degrees of freedom for the numerator is \(p_C – p_R\) and the degrees of freedom for the denominator is \(N – […]
What you should know about Trump’s tariffs: How they work, would happens next for trade, jobs and the economy
The periodic inventory system continuously tracks inventory over time, updating records each time an additional unit is added to stocks or a unit is sold. LIFO takes a different approach, assuming that the last unit to enter into the inventory is the one sold first. When prices rise over time, this results in a higher […]
Tracking Incoming Cash with the Cash Receipts Journal
ABC has the following data regarding its cash sales for the month of August 2021. The general format of a cash receipt journal can look like the following. However, it must include some key information points relevant to the cash transaction. A cash receipts journal is a special journal that records the receipt of cash […]
Explicit and Implicit Costs MBA Notes by TheMBA Institute
For example, if a company spends $200,000 on salaries, $50,000 on rent, and $30,000 on utilities, the total explicit cost would be $280,000. These costs are easy to track and are essential for calculating net income. These examples illustrate how implicit costs can impact decision-making, even though they do not directly affect cash flow. An […]
Explicit and Implicit Costs MBA Notes by TheMBA Institute
For example, if a company spends $200,000 on salaries, $50,000 on rent, and $30,000 on utilities, the total explicit cost would be $280,000. These costs are easy to track and are essential for calculating net income. These examples illustrate how implicit costs can impact decision-making, even though they do not directly affect cash flow. An […]
Bookkeeping with Quicken: Powerful Accounting Made Simple
Quicken is a personal finance and small business accounting software designed to help users manage their finances efficiently. Unlike Quicken, which is more suited for personal finance management, QuickBooks Online offers a comprehensive set of tools tailored for business accounting. This platform allows users to track sales, expenses and profits in real time, providing a […]
