A company finishes the month with $600,000 in accounts receivable. At first glance, that’s encouraging. Customers owe the business $600,000. But there is a major difference between: “Customers owe us…
A company signs a new project for $200,000. The original estimate looks excellent: Project Amount Contract value $200,000 Expected labor $70,000 Other project costs $50,000 Expected margin $80,000 On paper,…
A department needs $18,000 worth of new equipment. Why not simply order it, wait for the invoice, and record the expense? For a very small purchase, that may feel perfectly…
A business can look like one company from the outside while accounting sees something very different. There may be a parent company, three operating subsidiaries, and a separate entity that…
A chart of accounts can start beautifully. A company has straightforward accounts for revenue, travel, software, professional services, office expenses, and other major categories. Then management starts asking reasonable questions.…
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