Archivos diarios: noviembre 15, 2024

The frameworks do not favor the use of variable costing, because it does a poor job of matching revenues with all related expenses. Under variable costing, overhead costs are charged to expense at once, rather than when the related sales occur (which may be in a later period). Consequently, this methodology is only used for […]

Accountants are responsible for using the same standards and practices for all accounting periods. If a method or practice is changed, or if you hire a new accountant with a different system, the change must be fully documented and justified in the footnotes of the financial statements. This principle ensures that any company’s internal financial […]