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What is a Fixed Expense? Definition

Fixed expenses are expenses which remain static, not fluctuating over time. The term “fixed expenses” can be used in reference to either personal or business finances. Along with variable costs, fixed costs are one of the two components of the…

How to Calculate Taxes in Operating Cash Flow

If you received cash for dog walking or babysitting for example as part of self employment, then you should include the amount on your Schedule C. In some cases, receiving a 1099-K may take some of the manual work out of filing…

Accounts Payable Definition, Turnover, Reducing

The accounts payable aging schedule is another great tool to manage payables. Acme posts a debit to decrease accounts payable (#5000) and a credit to reduce cash (#1000). The journal entry includes the date, accounts, dollar amounts, debit and credit…

Cost of Goods Manufactured How to Calculate COGM

My Accounting Course  is a world-class educational resource developed by experts to simplify accounting, finance, & investment analysis topics, so students and professionals can learn and propel their careers. A retail operation has no cost of goods manufactured, since it…

Lender Liability Consumer Protection

Homebuyers can apply for a mortgage after they have chosen a property to buy or even while they are still shopping for one, thanks to a process known as pre-approval. Being pre-approved for a mortgage can give buyers an edge…

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