opinion
What is trunking used for?
Trunking, a term frequently used in IT and telecommunications, refers to a network configuration that efficiently conveys data between multiple entities w...
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Opinion
opinion
What is an example of outstanding balance?
Debt that has not yet been repaid in full. For example, if one borrows $10,000 and has paid back $2,000, the outstanding debt is $8,000. In general, inter...
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What is revenue center in hotel?
Revenue Center – A revenue center sells goods or services to guests and thereby generates revenue for the hotel. Eg: – Front office, Food and beverage out...
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What is a business turnover?
Turnover is an accounting concept that calculates how quickly a business conducts its operations. Most often, turnover is used to understand how quickly a...
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What is liability in accounting terms?
A liability is something a person or company owes, usually a sum of money. Recorded on the right side of the balance sheet, liabilities include loans, acc...
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What is the importance of capital budgeting?
Capital budgeting is important because it creates accountability and measurability. Any business that seeks to invest its resources in a project without u...
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How do you calculate labor budget?
To prepare a direct labor budget, multiply the number of units to be produced (from the production budget) by the direct labor time needed to make each un...
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What is earned revenue in accounting?
Revenue a company derives from its operations. For example, if a company sells its inventory and receives money, it is earning revenue. This contrasts wit...
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How do you record a rental car in accounting?
The accounting activity of a car rental is divided into several accounting transactions. First, record the rentals and fees paid. In the case of an operat...
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How do I calculate gross return?
For open-end funds, Gross Returns are calculated by taking the Total Return and backing out the most recent Expense Ratio. Gross returns for separate acco...
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