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Quarterly forecasting is basically an analysis of revenue and expenses to be earned or incurred in future. Revenues are best estimated with respect to product / service demand in the market. If an expert says that revenue will boom, that means profit will increase... so appropriately expenses will be more related to income...... this concept should alwaz be kept in mind in forecasting..... And also past % is to be seen and and those percents should be a point of forecasting also........
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Explain why gross earnings not net pay is debited to the salaries expense account?
Gross earnings are deducted from the salaries expense rather than the net pay because the amounts withheld are liabilities to the company and get paid every quarterly period.
Is budgeting important?
Budgeting is an important planning and forecasting process for a given period. It is the itemized summary of income and expense.
Why is budgeting important?
Budgeting is an important planning and forecasting process for a given period. It is the itemized summary of income and expense.
How and why interest expense is allocated between measurement periods?
Interest expenses are allocated between measurements periods since most interest charges are applied to the accounts on quarterly basis. Although most interest is measured on annual basis, the charges are applied quarterly.
How are long term capital expenditures budgeted in a quarterly budgeting process?
Here is useful information from Answers.com: In terms of accounting, an expense is considered to be a capital expenditure when the asset is a newly purchased capital asset or an investment that improves the useful life of an existing capital asset. If an expense is a capital expenditure, it needs to be capitalized; this requires the company to spread the cost of the expenditure over the useful life of the asset. If, however, the expense is one that maintains the asset at its current condition, the cost is deducted fully in the year of the expense. In your case, budget the allocated cost disbursement over a three-month period (for a quarterly budget).
Why organisations need to recognize depreciation expense in the income statement?
Explain the concept of depreciation and why organisations need to recognise deprecations expense in the Income Statement.
When does a cost become an expense do all costs become expenses?
so all costs become expenses? explain it
Is professional charges a fixed cost expense?
The only time professional charges would be a fixed cost expense is when you pay exactly the same charge every reporting period (monthly, quarterly, or yearly). If the professional charge changes depending of the amount of work done or time spent, then it is not fixed. Sometimes lawyers or accountants will work for a fixed fee that doesn't change over a period of time. Then it is a fixed cost expense.
Is broken goods an expense or liability please explain it to me in detail thanks?
Libability is defined as the state of being responsible for something. An expense is the cost required for something. Whether or not broken goods are a liability or expense depends on the detail surrounding how the goods were broken. The goods would be an expense for the store who owned the goods unless they insisted the patron pay for the item. They would be a liability if the broken goods cause harm to someone.
Depreciation expense of building is a administrative expense or a selling expense?
selling expense
Is an office expense an indirect expense?
yes it is an indirect expense
Is toner an office expense or an operating expense?
Office expense
