This concept is especially helpful to management in calculating the breakeven point for a department or a product line. Management uses this metric to understand what price they are able to charge for a product without losing money as production increases and scale continues. It also helps management understand which products and operations are profitable […]
It is essentially a way to determine whether an investment is likely to be profitable or not by comparing the present value of the expected cash inflows to the present value of the expected cash outflows. If the net present value is positive, the investment is considered to be potentially profitable, while a negative NPV […]
For example, let’s say Company ABC within the United States buys digital devices from its supplier in China and signs a FOB shipping point settlement. Firm ABC assumes full accountability if the designated carrier damages the package deal during delivery and may’t ask the provider to reimburse the corporate for the losses or damages. The […]
They work in areas like insurance claims, financial disputes, and criminal investigations, bringing a specialized skill set that requires certification. Accountants may contribute to similar tasks but usually lack the training or credentials for in-depth forensic investigations. While the outlay can add up, many professionals find the long-term earnings and broader opportunities outweigh the upfront […]
It can also undertake catch-up work and interact with your books and bookkeeping system. Pilot is a virtual accounting solution for small companies. Each firm is assigned a dedicated financial specialist who regularly reconciles its books, compiles reports, and advises on best practices. So, let us dig into the detailed Pilot review without further ado. […]
Once you have a list of bookkeeping names, seek opinion from friends, family or other people. A fresh perspective can help you decide which name resonates best. A name like “Xtraordinary Bookkeepers” might sound unique but could confuse clients trying to remember it. Certifications are a difference maker when clients choose a bookkeeping service. The […]
The concept is a key element of breakeven analysis, which is used to project profit levels for various amounts of sales. When it splits its costs into variable costs and fixed costs, your business can calculate its breakeven point in units or dollars. At breakeven, variable and fixed costs are covered by the sales price, […]
Social scams (or social engineering) are designed to trick someone into releasing sensitive information. Social scammers look for access to company information like financial data, intellectual property, personnel records, customer databases and personal or financial information that can be used to steal people’s identities. Unlike phishing, these scams can be highly personalized, and often involve […]
Choose a password that you haven’t already used with this account. You can change your accounts receivable process password for security reasons or reset it if you forget it. Your Google Account password is used to access many Google products, like Gmail and YouTube. Is a Gmail account the same as a Google Account? Learn […]