Moreover, predetermined overhead cost rates enhance budgetary control and financial planning by providing a clear framework for managing overhead expenses. They enable businesses to compare actual overhead costs with the estimated rates, identify variances, and take corrective actions if necessary. This proactive approach to overhead cost management supports better decision-making and resource allocation, ultimately contributing […]
Long-term assets are the value of the capital assets and property such as patents, buildings, equipment and notes receivable. It’s important to note that the recorded amounts of certain assets, such as fixed assets, are not adjusted to reflect increases in their market value. The simplest and quickest method of calculating stockholders’ equity is by […]
CCondley and Company, LLP is dedicated to client service excellence. Through various strategic partnerships, our firm has access bookkeeping to global resources that allow us to offer quality accounting services with a personalized approach. These membership alliances include RSM US Alliance, the Southwest Practice Management Group, Upstream Academy, and other specialized service providers. Condley and […]
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If we assume a useful life assumption of 10 years and straight-line depreciation with a residual value of zero, the annual depreciation comes out to $10 million. When a company acquires property, plant & equipment (PP&E), the purchase — i.e. capital expenditures (Capex) — is considered to be a long-term investment. For example, if you’re […]
The snapshot gives you insight into your company’s overall stability so you can make smart and guided decisions. When it comes to running a business, you can’t ignore your finances. To help you keep your finances in order and organized, you can look at financial statements, like your balance sheet. Contributions and Taxes Broadly, however, […]
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