Fully understanding generally accepted accounting principles is critical to avoid misstating amounts included on a balance sheet or income statement. In manufacturing and service businesses, direct ...

Direct labor rates are the labor costs directly resulting in the production of a product or delivery of a service. These costs include wages as well as payroll taxes, insurance, retirement matches, ...

For small businesses, proper accounting techniques can easily mean the difference between a profitable, well-run company and a struggling business. If a company accurately accounts for its expenses ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, ...