Regular monitoring of stock levels is essential for every business regardless of your production cycle, whether it’s a day or a month long. Continue reading
Category Archives: 1 Basic Accounting
Weekly wages
When we discuss weekly wages, we mean two things: (1) salaries being paid once a week, and (2) salaries calculated by weeks. Continue reading
Hourly wages – what about them?
There are lines of work where employees are paid by the hours they put into their work effort. Of the top of my head, it can be guards for instance or people marketing goods within supermarket alleys etc. It depends on the best practices within your country, within your line of business. Continue reading
Things to consider in your business when employing people
When employing people – a huge step in the sense that there’s no longer you who needs to have the ends meet with your business, but someone or possibly even more than just one someone, who require that they get paid on a regular basis and within sufficient range, – it’s crucial to keep a cool head in the sense of how much and how often you’re paying them.
Borrowing costs included within the cost of a PPE item
The item within your property, plant and equipment where you’d use borrowing is something you’re building over time. When you buy an asset which costs a lot, you use a finance lease, however what if you’re building something an asset which evidently is also costly (hence it also takes a longer period) and you’ve actually taken a loan from the bank to finance the building?
Non-refundable taxes, duties
Acquiring property, plant and equipment items means that you have pay up a considerable amount sometimes not for the asset itself but for say import duties. That’s an expense you incurred to acquire the asset, to be able to start using it (otherwise they’d held it at the customs).
Reporting capital on statement of changes in owner’s equity
Statement of changes in owner’s equity is a statement that’s prepared usually just once a year for the Annual Report. As it is, it’s important to note that the changes are then reflected from the previous period end to the current period end. Continue reading