Invoice vs receipt: What is the key difference that you should know?

You may recognise this type of slip from your regular grocery store purchases. Just as consumers receive receipts from service providers or suppliers, businesses value receipts in business-to-business dealings and JSE transactions. The seller issues a receipt when a sale is made to verify the amount paid by the buyer for the provided product or […]

Lease Termination Accounting: Costs and Options to Terminate

Content Operating vs. Financing: What’s the difference between these two lease types? Practical Expedient Challenges IFRS 16 Practical Expedients for Transition Relief Accounting for Early Termination of Finance Lease (IFRS in Oracle Property Manager R12 A partial termination is when the lessee reduces its access to the right of use asset. For example, a lessee […]

What is Deferred Revenue? Definition + Examples

Content Create a free account to unlock this Template How to account for deferred revenue Is deferred revenue a debit or credit in accounting? Why is deferred revenue considered a liability? Sometimes our revenue may not be tangible, leading to a false impression of our business’ financial health. In the Software-as-a-Service (SaaS) industry, deferred revenue […]

How do we deal with a negative contribution margin ratio when calculating our break-even point?

Content Biggest Accounting Challenges (And Solutions) For Architecture Firms Fund your business What is the break-even point for a business? Score Inexpensive Flights for Less Than $60 During the Labor Day Sale How you benefit from optimizing your contribution margin Unit Economics and Cost Structure Assumptions Break-even analysis Warning: Don’t forget any expenses Fixed costs […]

8 3 The Calculation of Cost of Goods Sold Financial Accounting

COGS helps you evaluate the cost and profits but also helps plan out purchases for the next year. Typically, the CFO or other certified accounting professional would handle these calculations because it’s not as simple as the example above would suggest. However, for the DIY CEO, calculating cost of goods sold requires a bit of […]

10 Good Reasons for Leaving a Job

Content The Power of SEO: Driving Success in Digital Marketing Bookkeeping Certifications Why is ethics important in accounting? 5 Reasons NACPB: Certified Public Bookkeeper It Can Lead to Multiple Careers Math Skills Are Necessary Benefits of Working as an Accountant Job brief Microcredential programs allow professionals to attain new skills without pursuing collegiate study. The […]