Category: Bookkeeping

3 2 Calculate a Break-Even Point in Units and Dollars Principles of Accounting, Volume 2: Managerial Accounting

For example, if a book’s selling price is $100 and its variable costs are $5 to make the book, $95 is the contribution margin per unit and contributes to offsetting the fixed costs. The break-even point is the point at which a company’s income is equal to their costs. Determining the break-even point informs a…
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March 4, 2024 0

3 2 Calculate a Break-Even Point in Units and Dollars Principles of Accounting, Volume 2: Managerial Accounting

For example, if a book’s selling price is $100 and its variable costs are $5 to make the book, $95 is the contribution margin per unit and contributes to offsetting the fixed costs. The break-even point is the point at which a company’s income is equal to their costs. Determining the break-even point informs a…
Read more


February 27, 2024 0

What Is Petty Cash?

The bottom portion of the petty cash log won’t be completed until the cash in the lockbox needs to be replenished. There’s no need to make journal entries when expenses are reimbursed from cash in the lockbox. Whatever you decide, it’s important that only one person have access to the fund at any time, to…
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September 13, 2023 0

Net Income The Profit of a Business After Deducting Expenses

Typically, net income (NI) is calculated annually for each fiscal year by starting with the organization’s total revenue and subtracting various expenses, taxes, and other costs. Since net profit includes a variety of non-cash expenses such as depreciation, amortization, stock-based compensation, etc., it is not equal to the amount of cash flow a company produced during…
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August 23, 2023 0

Botkeeper Customer Reviews 2024

For a while now, some eCommerce businesses have been leveraging freelance professional accountants (accounting profession) who are based on the web. This model has proven to be cheaper and far more convenient as opposed to hiring permanent resident accountants. Therefore, in other words, you can think of it as an automated data solution that saves…
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October 22, 2021 0

Your Guide to Small Business Accounting

Be sure to do your research, create a solid business plan and pivot along the way. Once you’re operational, don’t forget to stay focused and organized so you can continue to grow your business. To scale your business, you need to grow your customer base and revenue. Choosing an Accounting Software for Your Small Business…
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January 18, 2021 0

Single Member LLCs: A Complete Guide

The business formation process is fairly simple, usually taking anywhere from a few days to a few weeks, depending on your state. You’ll decide on the amount to withdraw, then either write yourself a check or transfer money from your LLC business bank account to your personal bank account. Any single-member LLC with employees will…
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December 25, 2020 0

Maine accounting firm sued after data breach exposes personal info of 1 1M people

As you dive deeper into the bookkeeping process, it may be tempting to blur the lines between your personal and business finances, but it’s not the best idea. By avoiding this, you’ll reduce the risk of triggering an IRS audit and will allow an accurate picture of your business finances. Collaborate with your peers, support…
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October 20, 2020 0

12 Best Sacramento Accountants

Kate furthered her education by obtaining a master’s in business administration concentrating in financial management from Northcentral University. After spending over a decade in the public sector, holding both administrative and financial positions, Kate decided it was time for something more challenging and rewarding. Dimov Tax Specialists offers accounting services for business owners and entities…
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September 21, 2020 0