Many organizations have departments that provide services to other departments. For example, a janitorial department delivers services to the rest of a company, including the production departments ...

Cost allocations using the direct labor method of accounting work the best when a business produces only one or two types of products. Using this traditional method of determining a company's labor ...

Accounting methods refer to the basic rules and guidelines under which businesses keep their financial records and prepare their financial reports. There are two main accounting methods used for ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

Not all forms of accounting are the same. Some focus on costs, others on audits and some focus on taxes. While having a solid handle on your business’s finances is essential, how you track business ...