Construction firms — especially those undertaking large-scale projects like commercial or municipal buildings — may win only a few contracts per year. Thus, a typical chart of accounts for a contractor will look different from a manufacturer or high-volume retail or hospitality business. Sales staff will also be remunerated differently, and accounting needs to pay …
Construction in Progress Accounting Process CIP or WIP Read More »
Content Alternatives to Profit Maximisation Explained Perfect Competition – Clear The Deck Key Term Knowledge Activity Normal Profit vs. Accounting Profit What is the difference between accounting profit and economic profit? Normal Profit in Macro Economics Economists might decide to use normal profit projection balances along with economic ones when they are examining antitrust issues or macroeconomic …
Types of Profit: Overview, Difference, Calculation Read More »
Content Your Business Deserves Modern Accounting and Bookkeeping Processes too! How does bookkeeping help my business? Keep Your Personal and Business Finances Completely Separate EXCEPTIONAL SERVICES WE OFFER R&D tax claims Aside from staying compliant, having organized books helps you monitor the health of your business, prepare for tax time, and prepare key financial statements. …
Top 12 Bookkeeping Best Practices for Achieving Business Success Read More »