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Managerial Accounting Accounting

05/11/19

Can a firm have a negative turnover during a period of time?

I'm asking this because I couldn't find any details on the web. I am working with a data table that holds a lot of firms and their turnovers for each month. Some of them have negative turnover for... more

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Managerial Accounting Accounting Bookkeeping

05/07/19

Accounting treatment for store credit?

I just got store credit when I returned some bad juice. This left me wondering. Which accounts receive the entries when a store issues store credit? For example, when I made the payment for the... more

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Managerial Accounting Accounting Banking

05/06/19

What happens during the windup of a bank?

When a bank is wound up....depositors are usually protected up to a certain amount. Let's say this certain amount is 100K. If a depositor had 150K in the bank, the 50K will be 'frozen' or even... more

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Managerial Accounting Budget

05/06/19

What kinds of expenses should I have separately in family budget?

What kinds of expenses should I have separately in family budget? Like food, medications, transport, clothes, housing, kids, personal expenses, sports, flat maintenance, loans, rent. There are... more

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Managerial Accounting Accounting

05/06/19

Accounting treatment for small bank verification deposits?

How do I record small deposits (e.g. $0.05, $0.07) as a result of bank verification for purposes of accounting? As income? Negative expenses?

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Managerial Accounting Accounting Liabilities Gnucash

05/04/19

How should I document mandatory furlough in GNUCash?

My union contract requires a certain number of furlough hours be taken over the next year and a half. Furloughs are basically unpaid vacation--I don't show up, and don't get paid. How should I... more

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Managerial Accounting Accounting Expenses

05/04/19

Am I being fair to my partner, or will she lose money?

My partner and I both have good degrees, and should be able to figure out simple arithmetic, but... We work through our own company, which we share equally. I purchased an item which I will use... more

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Managerial Accounting Accounting Start Up

05/02/19

Can I account for start-up costs that occur before incorporation?

I'm starting an LLC with a couple of partners. But before we incorporate we need to finalize a partnership agreement. I would like to initiate a few time-sensitive things such as a patent search... more

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Managerial Accounting Accounting Double Entry

04/30/19

Should ledger entries reflect actual bank charges, orders, or totals?

I recently purchased a few things on Amazon, but they split the items into multiple charges and orders: Order 1: $40, 2 items Order 2: $50, 1 item Order 3: $250, 5 items Charge 1: $40, Order 1... more

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Managerial Accounting Accounting Bookkeeping Documents

04/30/19

Which date to record for a transaction?

I need to record a transaction in a journal. If I take the date of the paper receipt, this might be different to the date on my bank statement. Which one should I use? Should I use one, and then... more

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Managerial Accounting Accounting Marriage Joint Account

04/28/19

Marriage merger of finances and continuity of records?

I just got married last week. Yay! I've been using Microsoft Money for 15 years. I have one gigantic file that has all of my transactions since early 1996 in it. I can use it to generate all kinds... more

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Managerial Accounting Accounting

04/27/19

Does Apple have $0 of treasury stock?

I cannot find any information on Apple owning treasury stock. Their balance sheet implies they have none. However I assume some may be held through holding companies. Does Apple have any treasury... more

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Managerial Accounting Accounting

04/26/19

Accounting Help: How to calculate new product cost per unit for Variable & Absorption costing?

In 2017, ABS manufacturing produced and sold 50,000 units of "x" product in their first year. The following info is provided:Total sales: (50,000 x $80) 4,000,000Units Produced and Sold: ... more

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Managerial Accounting Accounting Double Entry Home Ownership

04/26/19

How do I enter a house sale into my accounting package?

We sold our house and purchased a new one. The money from the sale went into our lawyer's trust account, and then was passed onto the vendor that sold us the new house. In my accounting package, I... more

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Managerial Accounting Business Accounting Calculation

04/24/19

Calculating the cost of waiting longer for money?

I'm trying to calculate the cost of waiting 30 extra days to receive money from a customer. Here's the situation: > How much would this cost a company per year if a customer pays us in 60 days... more

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Managerial Accounting Budget

04/21/19

Personal finance management: precise or approximately?

I've started my personal finance management a couple of weeks ago and I'm having a problem with monetary adjustments. I have three possible solutions (two precise and one approximate): * take in... more

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Managerial Accounting Budget

04/21/19

How to calculate money needed for bills, by day?

I'm trying to figure out how to budget my money so I can look to see how much money I need on that particular day for bills. I've had an excel sheet I've used for a while that has all my bills... more

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Managerial Accounting Budget

04/21/19

I can make a budget, but how can I get myself to consistently follow my budget?

I'm able to sit down and put together a budget. My problem is following it. After about a month of being strict, I lose sight of things, and get off the budget. It's then a couple of months later... more

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Managerial Accounting Accounting Equity Gnucash

04/20/19

GNUCash: How to count up equity?

I'm new to getting my finances in order, and I've decided to use GNUCash to track my spending and general financial health. I'm reading the manual and trying to take control! My trouble and... more

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Managerial Accounting Accounting

04/19/19

Can I use both FIFO and Specific ID for inventory accounting?

This is something I started thinking about when I was working at a bike shop. I imagine there may be other similar use cases. So, let's say I have an inventory stream that consists of both... more

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Managerial Accounting Accounting

04/19/19

Calculating assets-to-equity from equity-to-assets?

I've read that to calculate **equity**-to-**assets** using **assets**-to-**equity** the following can be done: assets-to-equity = 40% equity-to-assets = 1/0.4 = 2.5 Why does that work out?

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Managerial Accounting Accounting Futures

04/19/19

What is the purpose of marking-to-market a futures contract?

Suppose I enter into a long futures contract to buy 1 ounce of gold at 1200$/ounce for delivery in May 2015. Between now and May 2015, the market price for a similar contract will certainly... more

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Managerial Accounting Accounting

04/19/19

Why only stockholder equity in the well-known accounting equation?

Assets = liabilities + stockholders' equity. Isn't this an oversimplification? The (traded) company may have raised money through stock, but maybe it also issued bonds, has profit this year,... more

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Managerial Accounting Accounting Paypal Online Payment

04/13/19

Online accounting with Stripe/PayPal transactions?

I have a small solo business where I sell services on a website. I probably have about 100 small transactions per month and people pay me with PayPal or Stripe. I have been doing accounting in an... more

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Managerial Accounting Budget

04/12/19

Logistics of managing the daily budget?

My wife and I have historically struggled with managing our budget. Not because our money priorities are out of whack, or we have too much debt, etc. Rather it's just a time issue. One person has... more

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Can a firm have a negative turnover during a period of time?

Accounting treatment for store credit?

What happens during the windup of a bank?

What kinds of expenses should I have separately in family budget?

Accounting treatment for small bank verification deposits?

How should I document mandatory furlough in GNUCash?

Am I being fair to my partner, or will she lose money?

Can I account for start-up costs that occur before incorporation?

Should ledger entries reflect actual bank charges, orders, or totals?

Which date to record for a transaction?

Marriage merger of finances and continuity of records?

Does Apple have $0 of treasury stock?

Accounting Help: How to calculate new product cost per unit for Variable & Absorption costing?

How do I enter a house sale into my accounting package?

Calculating the cost of waiting longer for money?

Personal finance management: precise or approximately?

How to calculate money needed for bills, by day?

I can make a budget, but how can I get myself to consistently follow my budget?

GNUCash: How to count up equity?

Can I use both FIFO and Specific ID for inventory accounting?

Calculating assets-to-equity from equity-to-assets?

What is the purpose of marking-to-market a futures contract?

Why only stockholder equity in the well-known accounting equation?

Online accounting with Stripe/PayPal transactions?

Logistics of managing the daily budget?

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