Author name: kynose_admin

There is a common misconception that accounting is more complicated than finance. Both disciplines involve a great deal of mathematics and critical thinking. However, accounting tends to be more complex because it covers a broader range of financial activities. Every business, for instance, eventually needs to decide whether to renew its lease or sign a […]

They don’t account for deductions like refunds or discounts, which can drastically reduce actual revenue. For instance, a company offering heavy discounts to clear out old inventory may report impressive gross sales but end up with much lower net earnings. While gross sales refer to the revenue generated by a company, gross sales volume is

Businesses can simplify their cost accounting and increase correctness with the use of software solutions and data analytics. As a matter of fact, it can be seen that this cost is incurred as a result of the production and manufacturing process that is carried out as a normal course of the business. The historical data

Revenue is only increased when receivables are converted into cash inflows through the collection. Revenue represents the total income of a company before deducting expenses. For example, at the end of five years, the annual depreciation expense is still $10,000, but accumulated depreciation has grown to $50,000. It is credited each year as the value

Some business leaders who initially opposed SOX have since acknowledged its positive impact on corporate accountability. Corporate leaders also voiced concerns that meeting the regulations laid out in the Sarbanes-Oxley Act would take too much executive time and that compliance costs would amount to an exorbitant amount of money. The Act had critics from the