Bookkeeping

How Do Net Income and Operating Cash Flow Differ?
The statement of account

The statement of account

If you ever have to take someone to court, a detailed statement of all transactions will be essential. Since account statements can include a bill at the bottom, it can be easily confused with an invoice or bill. This is a bill rather than a statemen...
Variance Analysis Formula with Example

Variance Analysis Formula with Example

In program and project management, for example, financial data are generally assessed at key intervals or milestones. For instance, a monthly closing report might provide quantitative data about expenses, revenue and remaining inventory levels....
Three types of standards are . toppr.com

Three types of standards are . toppr.com

However, it may be necessary to update standard costs frequently, if actual costs are continually changing. It is easiest to update costs for the highest-dollar components of inventory on a frequent basis, and leave lower-value items for occasional c...
Variance and Standard Deviation

Variance and Standard Deviation

It can be favorable when the budgeted fixed overhead is less than the actual fixed overhead or adverse when the actual costs are more than the budgeted. Managers acknowledge that it is impossible to exactly attain budgeted estimates, such as targeted...