Katherine Haan, MBA is a former financial advisor-turned-writer and business coach. For over a decade, she’s helped small business owners make money online. When she’s not trying out the latest tech or travel blogging with her family, you can find…

On the other hand, if production costs decrease due to increased efficiency or automation, then this could lead to lower product costs. Therefore, understanding the relationship between product and production costs is essential for businesses seeking to optimize their manufacturing…

Without a thorough risk assessment, banks have no way of knowing if capital reserves accurately reflect risks or if loan loss reserves adequately cover potential short-term credit losses. Vulnerable banks are targets for close scrutiny by regulators and investors, as…

Generally, partners do not receive any interest in the capital contribution made to the firm according to accounting for partnership. If the deed states that interest must be credited, it is given at an agreed rate. When the contribution to…

She supports small businesses in growing to their first six figures and beyond. Alongside her accounting practice, Sandra is a Money and Life Coach for women in business. PwC refers to the US member firm or one of its subsidiaries…

The degree of operating leverage can show you the impact of operating leverage on the firm’s earnings before interest and taxes (EBIT). Also, the DOL is important if you want to assess the effect of fixed costs and variable costs of…

Accounting for assets and liabilities in a partnership is much similar to accounting in any other form of business. Moreover, the basis of the partnership can be changed with the transactions like salary and interest to partners, which can…

Construction projects have multiple components—labor, materials, equipment, subcontractors—which need to be allocated correctly to ensure accurate job costing. Without proper tracking, businesses risk overspending on certain projects or underestimating their expenses, leading to poor profitability analysis. Managing subcontractors is a…

As you’re setting up a new company in QuickBooks, you’ll also be prompted to sync any bank or credit card accounts so Quickbooks can start categorizing your expenses and generating business reports. If you’re importing financial records from an older…

However, provided your outsourced bookkeeping partner embraces cloud-based accounting software, you’ll have access to your books 24/7. If you need help with CFO-level strategic initiatives but have the resources to handle bookkeeping in-house, a good provider will have no hesitation…