Manufacturing Costs A Complete Guide

Labor costs are one of the highest contributors in significantly driving up your total manufacturing costs. Thus, it makes sense for your business to cut back on this area and thus make your manufacturing lean. However, because COGS excludes…

17️ Free Google Sheets Cash Flow Templates

Cash flow statements reflect a company’s balance of cash and cash equivalents at the beginning and end of the reporting period. For instance, rather than recreating a year-to-date cash flow every month, it’s easier and usually more accurate to simply…

Single-step income statement definition

In summary, the Single Step Income Statement offers a simple, transparent way to assess the profitability of a company, but it lacks the level of detail often required for comprehensive financial analysis. Other income, non-operating income, or other income might…

Construction Bookkeeping Services

As your business expands, managing multiple projects, invoices, payroll, and tax filings can become overwhelming. Professional bookkeepers implement systems that automate routine tasks such as expense tracking, invoicing, and report generation. This automation reduces manual errors, improves efficiency, and ensures…

Burn Rate Formula + Calculator

Most importantly, knowing your cash runway reduces the risk of running out of cash. It gives you a better understanding of when you need to raise funds or adjust your budget to stay afloat. In other words, they’re spending $3,500…

Accounting Definition & Meaning

It also shows the company’s financial position (in terms of assets, liabilities, and proprietor’s interest) at the end of the period. If a transaction or an event does not have a financial implication, it will not be recorded in the…

Margin of Safety: Formula, Example, How to Calculate?

Maintaining a positive margin of safety is critical to profitability because it marks the point at which the company avoids losses. The margin of safety is the difference between the actual sales volume and the break-even sales volume. It shows…