See how Xero can help your business type or industry. Explore Xero accounting software and its tools for small businesses, accountants, and bookkeepers. Sync Xero with software you already love or easily find and try new apps designed to save your business time and money at the Xero App Store. Keep your practice a step […]

If convenience is what you’re after, having an In-house CFO on hand may be more convenient, given your financial requirements. If you don’t have many financial needs, VCFO might be a better solution. Yet, VCFO has the power to significantly increase your company’s productivity right away. Our pool of financial experts enables you to achieve […]

It provides precise cost information for each unit sold but requires extensive record-keeping and may not be practical for all businesses. The FIFO method assumes that the first items purchased or manufactured are the first ones sold or used. This method aligns with the natural flow of inventory in many companies and is commonly used […]

By following this principle, the gaap matching principle requires revenues to be matched with accountants can more accurately value assets and keep financial records accurate, which is especially important for businesses that may be at risk of shutting down in the future. Failing to follow GAAP standards in businesses requiring these practices could result in […]

Since these costs are often not product-specific, many online retailers will come up with a per-unit cost that gets applied across the board to all goods sold as an average. Beyond the obvious material and fulfillment costs, other overhead costs must be accounted for. Fulfillment costs for pick-and-pack and shipping materials are part of every […]

Often the questions we ask require us to make accurate predictions on how one factor affects an outcome. Sure, there are other factors at play like how good the student is at that particular class, but we’re going to ignore confounding factors like this for now and work through a simple example. In actual practice […]

Earnings per share (EPS) represents the amount of profit the historical cost principle requires that when assets are acquired that can be generated per share of stock. Quarterly EPS reports provide a snapshot of short-term profitability, while annual EPS reflects long-term performance. Earnings per share shows up on the profit and loss statement; book value […]

There’s also an option that allows you to include the entry on the tax report. Then there’s the bottom half, where you can add the account, description, type, and amount. Because adjusting entries are made at the end of the period. So, for instance, if the period ends on December 31st, you would do the […]

Bench certainly doesn’t win in the additional features section of this competition, but it does have proprietary software and doesn’t rely on QuickBooks. The firm was ranked as one of the Inc. 5000’s Fastest-Growing Companies three times, and Forbes, Business Insider, Accounting Today, among many others, have all written about it. Jessica Pereira helps SaaS […]

The acid test ratio measures the liquidity of a company by showing its ability to pay off its current liabilities with quick assets. If a firm has enough quick assets to cover its total current liabilities, the firm will be able to pay off its obligations without having to sell off any long-term or capital assets. […]