Defined Contribution Pension Plan

Pension plans generally fall into two types, defined contribution pension plans or defined benefits pension plans. In a defined contribution pension plan, the contributions are known (defined) and guaranteed and the benefits will vary depending on the investment performance of the plan. In a defined benefits pension plan, the benefits are known (defined) and guaranteed and the contributions will vary depending on the amount needed to fund the defined benefits.

Defined Contribution Pension Plan September 20th, 2017Team
Read more

FOB Shipping Point Freight Prepaid

A business sells goods to a buyer with the terms FOB shipping point freight prepaid. The value of the goods is £5,000 and the settlement terms are 2/10, n/30. The freight cost from the shipping point to the buyers destination is £700. The seller prepays the freight expense. Calculate the following . . .

FOB Shipping Point Freight Prepaid November 6th, 2016Team
Read more

FOB Accounting

FOB accounting deals with the treatment of freight charges and how they are recorded in the accounting system.

FOB means Free on Board and is an abbreviated term used in shipping. It is important to understand the nature of the term accounting FOB, as it will affect how the freight charges are posted to the accounting records.

Having decided that the terms of the contract are FOB, it is now necessary to choose the point at which responsibility passes from the seller to the buyer. The FOB point can either be the buyers destination, or the place from which the goods are shipped – the shipping point.

FOB Accounting May 22nd, 2017Team
Read more

Operating Lease Accounting

Operating lease accounting deals with the treatment of an asset rented by your business under the terms of an operating lease agreement.

An operating lease is an agreement between your business (lessee) to rent an asset from a lessor. The lessor (lease company, finance company etc.) owns the asset, and your business rents the asset in return for a periodic rental payment. Your business never owns the asset, at the end of the term it is returned to the lessor.

Operating Lease Accounting August 18th, 2017Team
Read more

Overhead Costs

Overhead costs are the indirect recurring costs of running a business such as administration, selling, and premises expenses. They are all the support costs of a business which are not directly attributable to the goods or services that the business is producing.

Overhead Costs November 6th, 2016Team
Read more

You May Also Like

Related pages

payroll cash advancereconciliation templatebond repayment scheduleirr ratio formulawhat are accrued salariesdepreciation journal entries examplesexcel formula mortgagepetty cash spreadsheet examplefinancial forecast template exceldouble entry journal templatecalculate beginning inventoryhow do you calculate mark upannuity table future valueincome statement single step formataccounting system flowchartcalculate future value formulaconsignment sales accounting treatmentjournal entry for accrualsbookkeeping formulapresent value of a growing annuity formulainterest revenue income statementoperating cash flow calculatorbalance sheet prepaymentsconsignee agentfuture value annuity table pdfending cash balance formulanature of bills receivable accountstockholders equity equationlease payment formula excelaccrued payroll entrypresent value annuity chartbookkeeping questions and answers testcalculate contribution margin percentageaccounting suspense accountjournal entry for issuing stockcapital lease accounting entriesfuture value interest factor of an annuitybalance sheet reconciliation examplesinterest expense journal entrybookkeeping for a small business templatedegree of operating leverage calculatorexamples of capital expendituresroyalty expense on income statementreceivable turnover ratet accounts and journal entrieshow to prepare an income statement in excelcogs equationincome statement format xlsfinding the interest rate of an annuityhow to calculate perpetuitypayroll reconciliation template excelgross profit formula excelcalculate contribution margin percentagesundry creditors definition accountingannuity loan formulastandard costing formula chartlessor accounting capital leasedepreciation of fixed assets journal entryin consignment sales the consigneeannuity formula with growthaccruals and prepayments double entryhow to book accrued expensesthe difference between markup and marginpredetermined overhead rate calculationwhat is imprest fundunearned creditsample petty cash voucherjournal entries for accounts payablepetty cash fund definitionpayroll exam questionsdupont analysis calculatorexample of contra entrypayback period calculation formulawhat is a trade debtor on the balance sheet