Bookkeeping

Historical cost refers to the cost of inventory, at the time it was originally purchased. Phantom gains are sometimes difficult to identify because the losses may not be apparent on the surface. For example, let’s look at a bondholder phantom profit formula who also receives coupon payments from the same bond. However, the taxes the investor will pay on the ... Read More »

ADP is used by around 30,430 companies across the United States as of this writing. Many other English-speaking countries also use ADP, but 90% of its users are in the U.S. To see a breakdown of the thousands of companies that use ADP to manage their payrolls, please see this list at AppsRuntheWorld.com of companies and demographics. If your duties ... Read More »

This allows companies to tap into specialized expertise and technology without having to build these capabilities internally. Jessica Barnas is a partner and a leader of Wipfli’s finance and accounting solutions team advisory group. She leverages her in-depth knowledge of accounting software and financial processes and procedures as she guides our clients into the future, allowing them to focus on ... Read More »

Gross margin is shown on the income statement as revenues minus cost of goods sold (COGS), which includes both variable and allocated fixed overhead costs. Cost accountants, financial analysts, and the company’s management team should use the contribution margin formula. CM is used to measure product profitability, set selling prices, decide whether to introduce a new product, discontinue sample personnel ... Read More »

Track any delays or defaults in payments and promptly follow up with customers to resolve issues. Identify trends or warning signs of potential financial difficulties that advantages of trade credit could impact their ability to pay. Trade Insurance is a protection against bad debts which occur when the customer is either unable to pay or pays after the due date. ... Read More »