Bookkeeping – Page 3 – Eudora Investment Limited

Accounting for Purchase Discounts Entry, Example, and More

Accrued interest agreements have fees calculated based on the current account balance and rate. It reduces the expenses or cash outflow of the company, but it could not be considered the revenues under the accounting principle. For example, if you have a loan with a 6% simple interest rate, you would pay back the original… Continue reading Accounting for Purchase Discounts Entry, Example, and More

Activity-Based Costing

The loss on each sale of the Solo product was not discovered until the company did the calculations for the ABC method, because the sales of the other products were strong enough for the company to retain a total gross profit. The Activity-Based Costing (ABC) model is used to get a sound estimate of the… Continue reading Activity-Based Costing

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