Is rent expense a period cost or a product cost?
While these expenses are logically linked to products, they are still period costs because they can be separated from the inventory purchasing and production process. Managing your costs is doubly important if you own a manufacturing business, since you’ll need to manage both product and period costs. Product costs, also known as direct costs or […]
Petty Cash Creating, Disbursement, Replenishing, Journal Entry
This leaves the accounting team having to become detectives to figure out what happened to the petty cash’s float. A petty cash fund will undergo periodic reconciliations, with transactions also recorded on the financial statements. In larger corporations, each department might have its own petty cash fund. Cash on hand refers to all the money […]
Accounting Consultant Duties & Responsibilities
An accountant can offer guidance on how to make this less of a headache. Follow these steps closely and you’ll build a strong foundation for future work, repeat clients, and expand your reach and reputation. The ideal candidate for the sales consultant role is a data-driven individual who can deliver results that impact the bottom […]