Chuyên mục: Bookkeeping

• Inventory Turnover Ratio: Definition, How to Calculate

  by: Min ad Bookkeeping 0 2022-08-11 05:40:35

  The opening and closing inventory balances are $9,000 and $7,000 respectively. Calculate average inventory, inventory turnover ratio and average selling period for 2022. Inventory turnover  is calculated by dividing the cost of goods sold by the average inventory level for a given period. Business owners use this information to help determine pricing details, marketing efforts […]

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• Difference Between Journal and Ledger: Know the key differences

  by: Min ad Bookkeeping 0 2022-05-25 01:54:34

  Today, most organizations use accounting difference between ledger and journal software to record transactions in general ledgers and journals, which has dramatically streamlined these basic record-keeping activities. In fact, most accounting software now maintains a central repository where companies can log both ledger and journal entries simultaneously. While posting entries in the ledger, individual accounts […]

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• Conversion Cost: How to Calculate and Use It for Cost Accounting and Management

  by: Min ad Bookkeeping 0 2021-08-30 03:34:49

  In this section, we will delve into the concept of Conversion Cost Variance and explore how it can be measured and analyzed. Conversion costs refer to the expenses incurred during the transformation of raw materials into finished goods. Conversion cost, as the name implies, is the total cost that a manufacturing entity incurs to transform […]

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