Skip to content In other words, gross margin is a percentage value, while gross profit is a monetary value. Apple also incurred $7.3 billion of research and development costs, $6.2 billion of selling, general, and administrative costs, and $4.04 billion for income taxes. A company’s gross income only includes the company’s net sales less COGS. Growth could mean […] Unlike direct, indirect expenses are not directly related and assigned to the core business operations of a firm. Businesses can implement several strategies to control indirect expenses. Regular budget reviews and cost-conscious decision-making can help businesses effectively manage and control their indirect expenses. Some companies report their activities by department throughout the year. As such, companies […] This Sample Chart of Accounts Template is a basic structure designed to prepare an organizational chart regarding the various accounts that the organization has. You can easily download this template anytime and anywhere based on the requirements you have. Another account is credited, and vice versa, every time you record a debit. You might have to reference the […] The conservatism principle recognizes that uncertainty is inherent in accounting and that estimates, assumptions, and judgments are often required to prepare financial statements. In this case, it is helping users of FS to understand all types of liabilities and expenses that probably happen to the entity. There’s less risk of unexpected disappointment or surprise loss […] Then, the future cash flows are discounted the forecasted cash flows back to the present by dividing them by the discount rate to the nth power, where n is the number of periods into the future. This is most often accomplished with the help of a financial calculator, spreadsheet, or other software. Then, you need […] For example, a company decides to renovate its office space so that it can be used by a new division. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. Accurate data is very crucial if you want to manage capital projects efficiently. To create a […] The IRS accepts digital records, so don’t worry about hanging on to paper receipts forever. We recommend using a cloud-based system like Dropbox, Evernote, Google Drive, or Bench. Next, we can make an HTML object to append to the best-seller-titles list. bookkeeping for amazon sellers On CodePen, you can go to settings and add it […]