Our apprentice-like challenge is into its 5th week and the b5media ACES have completed their response to the fifth, latest challenge. The advice should serve any entrepreneur thinking of upgrading a Home Business to a Self-Owned Outside Business. Let us know what you think.
Kay’s business is doing great. However, her family is […]
Considering the case of an individual or household with no financial or physical Earning Assets, whose only Earning Assets are Manhours, where the Salaries or Professional Fees have related Direct Costs which do not leave sufficient Cash to meet Expenses:
What are the possible options for solving the financial problem?
The options start with your Manhours, your […]
Having spent posts 1 through 31 in understanding accounting talk, of what use is all this accounting talk?
At the end of the day, what accounting does is: it measures wealth and talks about how income creates wealth.
There is a world of difference between wealth and income. It is easy to confuse the two. […]
Figuring out the Cost of Goods Sold on a per item basis is a tedious and unnecessary process. In most cases, goods or products enter the Inventory at varying times and at varying costs. There are changes in the cost of raw materials, labor, transport, etc, from period to period and from time […]
In some Income Statements (especially in the Income Statements of trading, merchandising & manufacturing firms), a refinement in the reporting of Sales is introduced by including the Cost of Goods Sold (i.e., the cost of the goods or products taken from inventory).
As explained in post 21, the Cost of Goods Sold is the value of […]
In a majority of enterprises (whether large corporations or small businesses), the proceeds from Sales are usually received partially in Cash. The balance comes in the form of a promise to pay in the near future, usually within 30 to 90 days. This balance is booked as Accounts Receivable.
In a trading, merchandising or […]
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