A cheque instructs a bank to pay a specific amount to a person or entity, while a deposit slip records funds...
This means that for every dollar of revenue, your company is keeping 40 cents as gross profit after covering the direct costs of producing goods. Understanding and calculating your Gross Profit Margin is one of the most powerful steps you can take to maximize your business’s profitability. Whether you run a startup, a small business, or a larg...
In accounting, deferrals and accrual are essential in properly matching revenue and expenses. An example of expense accrual might be an emergency repair you need to make due to a pipe break. You would hire the plumber to fix the leak, but not pay until you receive an invoice in a later month, for example. The liability would be recorded by debit...
