Adam Hill, author at Online Accounting

Adam Hill started accounting and trading back in 2007. He has achieved quite a lot of success. Now he decided to open his blog. Here he publishes articles on accounting. For any questions of interest, please contact us by e-mail: admin-hill@online-accounting.net

Land Developer Cant Use Completed Contract Method

Dec 6, 2021 Bookkeeping by Adam Hill

Additionally, the IRS asserted that some of the contracts were not long-term contracts eligible for the percentage-of-completion accounting method, but were strictly land sales which would require immediate revenue recognition. On January 1, 2001, C ...

Outstanding Checks

Dec 3, 2021 Bookkeeping by Adam Hill

By doing this, however you must add deposits in transit, remove outstanding checks and add/deduct bank errors. If you have an outstanding check, you can consider reaching out to the payee via phone or email to verify that they received the check. If ...

Differentiating Job Costing From Process Costing

Dec 3, 2021 Bookkeeping by Adam Hill

Each stage of production will always have an opening inventory and closing inventory value which includes the Work in Process units that were brought forward from the last period of production. Compared to the other costing methods available, this me...

How To Start An Accounting Firm

Dec 2, 2021 Bookkeeping by Adam Hill

Depending on which plan you choose, you may not find all the features available. The ‘Bookkeeper Lab’ is a program for people who want to go from being a standard bookkeeper to building a thriving business. You’ll have access to a great community and...

Break Even Analysis For Restaurants

Dec 2, 2021 Bookkeeping by Adam Hill

Both fixed and variable costs factor into the equation, and since you’re certainly paying for both on a monthly basis, you’ll want to make sure you’re factoring them into your analysis. It has calculated that the fixed costs include its lease, execut...