The process of comparing the actual performance of a business with the budgeted numbers is known as Variance Analysis. What is a variance?
Posts tagged as “Cost of Goods Sold (COGS)”
Creditor Days measures the average number of days it takes a business to pay its suppliers who gave the business trade credit.
Stock Turnover shows the number of times a business sells its stock within one year, and the number of days it takes to sells all its stock.
Businesses usually have two types of spending such as Revenue Expenditure and Capital Expenditure. Here is how to correctly record these two types of spending.
Profit and Loss Account (P&L Account), or an income statement, contains financial data which business stakeholder groups find extremely useful.
With the demand for necessities and luxury products falling during economic recession, it is important for managers to consider ways to reduce business costs.