Bookkeeping

In companies with multiple subsidiaries, the financial close also includes consolidating the division’s financial statements, analysing for intercompany eliminations and other post-closing adjustments. For external financial statements, data for footnotes and other disclosures are also generated. These items include accumulation (known as “accrual” in accounting) of real estate taxes or depreciation accrual, which need to …

What Is Financial Close and Why Is It Important? Leer más »

Overhead is usually applied to cost objects based on a standard methodology that is employed consistently from period to period. Applied overhead is the amount of overhead cost that has been applied to a cost object. Overhead application is required to meet certain accounting requirements, but is not needed for most decision-making activities. However, the …

Accounting For Actual And Applied Overhead Leer más »