Month: March 2020
Best Farm Accounting Software for Agricultural Bookkeeping
Complete seed-to-sale farm software with integrated no-hassle farm eCommerce solution to market & sell farm products direct to consumers online. Seamless integration with your crop plan and inventory simplifies orders, tracks sales and customer communications. AgStar offers an easy-to-use accounting program with unique farming features — not available in all-purpose accounting systems. A lot of…
Read MoreContingent Liabilities
If an uncertain event moves from being a possibility to being both likely to occur and measurable, then you are going to record the liability. You would record a loss, some sort of expense, or some sort of decrease in your income, and you will credit liability, showing that you owe money (probably). Do not…
Read MoreAI picks 3 promising sharding blockchains to invest in 2024
Elrond’s founders, Lucian Todea, Beniamin, and Lucian Mincu, established the network in 2017. To scale the environment for developers, Elrond uses a robust technology model based on “Adaptive State Sharding” along with a unique “Secure Proof-of-Stake (SPoS)” consensus mechanism. Elrond caters to cross-chain interoperability and maximum operational efficiency by providing developers with the most common…
Read MoreHow to buy EGLDElrond Quick & Easy Tutorial » Crypto Made Easy
Its increased liquidity means you can buy and sell tokens quickly to take advantage of market-moving news. Bitcoins PoW consensus mechanism raises environmental concerns because of the large amounts of computational power and terawatts of electricity involved in validating transactions. In contrast, MultiversX ensures scalability while remaining sustainable through SPoS and adaptive state sharding. You…
Read MoreContingent Liability How to Use and Record Contingent Liabilities
In this case, the company needs to account for contingent liability by making proper journal entry if the potential future cost is probable (i.e. likely to occur) and its amount can be reasonably estimated. If the contingent loss is remote, meaning it has a less than 50 percent chance of occurring, the liability should not…
Read More27 Accounting Blogs Modern Accountants Should Follow
Here is a list of 10 great accounting blogs that are worth reading. With podcasts, webinars, and many other resources, you can educate yourself on various topics from taxes to practice management. Many businesses faced significant financial strain during the pandemic. Accounting firms advised their clients on managing cash flows more effectively, ensuring financial stability…
Read MoreAbsorption Costing vs Variable Costing: What’s the Difference?
Subtract gross sales from cost of goods sold to calculate the gross margin. The different methods of costing used in a manufacturing business, result in variations in the format of income statements. Full absorption costing–also called absorption costing–is an accounting method that captures all of wpc quantitative precipitation forecasts the costs involved in manufacturing a…
Read MoreHow Much Do Giant Pandas Cost? Explained
All Giant Pandas (even those in the Zoos) are owned by the People’s republic of China. To many people, they are the most adorable and cute animals that walk the earth. They are also open for symbolic adoptions just like the pandas, which starts at the value of $50. Then give it a good drink,…
Read MoreHow to Escape a Death Spiral, in Aviation and Health Care
The first step in avoiding a death spiral is regularly monitoring your company’s financial health. This includes keeping track of your revenues, expenses, cash flow, and debt levels. By keeping a close eye on your finances, you can identify any warning signs early and take action to address them. No, a death spiral can occur…
Read More6 1 Absorption Costing Managerial Accounting
Depending on the type of business structure, small businesses may also be required to use absorption costing for their tax reporting. This is not right because fixed costs remain the same regardless of the units produced. In the article about income statements under marginal cost, we discussed that marginal costs give a higher net profit…
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