Bookkeeping

Most small to mid-sized organizations operate on a rather tight budget, meaning that every penny of revenue counts and can make a rippling impact on various projects at the nonprofit. Grants can make up a significant portion of a nonprofit’s budget, accounting for around 10% of all nonprofit funding. Seek out the sweet spot where …

Welcome to the fascinating world of economics, where understanding costs is not just about accounting but also about strategic decision-making. Among the various cost concepts, marginal cost stands out as a pivotal element in both microeconomic theory and practical business decision-making. Marginal cost is the extra cost of producing one more unit of a good …

“Explicit costs are those that are incurred when taking a specific course of action,” says Dr. Bob Castaneda, program director of Walden University’s College of Management of Technology. Opportunity costs can be easily overlooked because sometimes the benefits are unrealized, and therefore, hidden from view. Generally speaking, the stronger the liquidity, versatility, and compatibility of …

Margin ratios focus on the profit generated for each dollar of sales. If you can generate more profit per sales dollar, your business can be more profitable. You can also generate more profit on a smaller dollar amount of sales. Meanwhile, return ratios measure how well your company is generating a return for shareholders. Profitability …

At the city’s southern outskirts, near the historic Pyrohiv village, there is an outdoor museum officially called the Museum of Folk Architecture and Life of Ukraine. This territory houses several “mini-villages” that represent by region the traditional rural architecture of Ukraine. Kyiv is known as a green city with two botanical gardens and numerous large …

There are lots of budgeting templates available online or you could create one of your own. Your operating budget, also known as a broad scope budget, gives you a financial picture of the activities your organization has planned for the coming year. Boards also use the operating budget to show projections of various amounts of …

Because service-only businesses don’t base operating expenses on tangible goods, they cannot list COGS on their income statements. Examples of businesses that would do so are attorneys, business consultants, and doctors. The cost of goods sold (COGS)  represents the total expense a company incurs to produce the goods it sells in a specific period. COGS covers …

The retention ratio (also known as the plowback ratio) is the percentage of net profits that the business owners keep in the business as retained earnings. The purpose of releasing a statement of retained earnings is to improve market and investor confidence in the organization. Instead, the retained earnings are redirected, often as a reinvestment …

Additionally, related concepts such as hymn, psalm, and incantation capture its essence in varying contexts. Mantras serve as a sacred utterance containing spiritual significance, often in languages like Sanskrit or Avestan. They can invoke sounds that promote healing, insight, and growth, while also providing a form of positive affirmation for self-discovery. With thoughtful breathing and …

In other words, the accounting equation will always be “in balance”. These may include loans, accounts payable, mortgages, deferred revenues, bond issues, warranties, and accrued expenses. Although the balance sheet always balances out, the accounting equation can’t tell investors how well a company is performing. Financial Accounting For instance, if an asset increases, there must be …