Category: Bookkeeping

The basic format is to simply show the sales less the cost of goods sold equal gross profit. And also show the gross profit less the selling and administrative expenses and that equals the operating income. To complete periodic assignments of absorption costs to produced goods, a company must assign manufacturing costs and calculate their… Continue reading The Traditional Income Statement Absorption Costing Income Statement Format & Examples

By understanding these health care accounting terms, health care companies can more accurately keep track of their finances. Additionally, health care organizations must maintain accurate recordkeeping to comply with regulatory requirements. Proper documentation of patient information enables providers to monitor payments and medical treatments while keeping patient info private. Generally Accepted Accounting Principles are accounting… Continue reading Health care accounting: A beginners guide

When interested parties decide to work together on R&D, they usually form a limited partnership. The limited partners provide funding, while the general partner manages the day-to-day activities and technical aspects under contract to the limited partnership—generally at cost-plus-margin, or for a fixed fee. For example, costs in relation to the general partner are typically… Continue reading What is Research and Development Accounting?