Cost Object Definition, Types & Examples Lesson

A manager’s salary would be an indirect cost because it is caused by all the variables and it is not easy to track a specific variable. Rafhan Maize Products produces a large amount of products, processing tons of maize every year. The salary of the factory manager is...

How to Calculate Selling Price from Cost and Margin

The selling price is the cost incurred by the consumer to purchase the good. The amount a buyer actually pays to purchase a good best accounting software in 2021 or service is known as the selling price. This price is greater than the cost of the items and includes a...

SERVICE CHARGE definition

However, in some locations, the fee must be paid at the point of embarkation. Airbnb charges a 3% fee, which is taken out of the total reservation amount. In addition, taxes such as value-added tax (VAT) may be added on top of the basic service charge, service charge...

What are Net Credit Sales?

Many invoicing businesses will provide their customers’ discounts if they pay their fees on time. 1/10 net 30 is an example of discount terms in which a customer receives a 1% discount if they pay within 10 days of a 30-day invoice. Retroactive notations are...

Useful Life Definition and Use in Depreciation of Assets

If property you included in a GAA is later used in a personal activity, see Terminating GAA Treatment, later. If you have a short tax year after the tax year in which you began depreciating property, you must change the way you figure depreciation for that property....