To do this: Acknowledge the specific problem highlighted in the complaint. If they make several points, respond to each one in turn. Apologize sincerely f...

Gross sales is your total sales before numerous categories of expenses are deducted, such as returned items, taxes, license and business fees, rent, utili...

ASP stands for Average Selling Price. To measure ASP, you take your total amount of revenue or bookings won, and divide by the number of deals you closed....

The double-declining balance method. When a company uses this method, they take the asset’s cost minus the accumulated depreciation and use that number as...

When you take out a loan or line of credit, you owe interest. You must record the expense and owed interest in your books. To record the accrued interest ...

Answer: To record a repair or maintenance expense in your records, debit the repairs and maintenance expense account by the amount of the expense in a jou...

Accounting software programs have become common, there are both advantages and disadvantages to relying on a computer for all accounting. Advantage: Simpl...

Cost of financing the working capital rises because of increase in interest rates. When the inflation rate is high, it will have a direct impact on the re...

You can calculate the inventory turnover ratio by dividing the inventory days ratio by 365 and flipping the ratio. In this example, inventory turnover rat...

General reserve is referred to as the reserve fund that is created by keeping aside a part of profit earned by the business during the course of an accoun...