Understanding the cost per unit is essential to determine the optimal selling price, gross profit margins, and profitability metrics. Moreover, monitoring the cost per unit over time provides valuable insights into trends and allows for a real-time analysis of costs and revenue. For an expense to qualify as a production cost it must be directly...Read More
QuickBooks Live also took a hit in the personal bookkeeper category because it doesn’t provide a phone number to call, although you can request a call-back. There also isn’t a mobile app that is specific to QuickBooks Live that you can use for communicating with your bookkeeper, so we deducted points there as well. With...Read More
Thus the balance sheet prepared on the basis of historical cost ignores the price-level changes (inflation). In this way, the balance sheet of the business does not present the true and fair picture of the business. Recording pertains to writing down or keeping records of business transactions. Once they are classified, information is summarized into...Read More