A corporation is a group of people or a company authorized to act as a single entity. It receives recognition under the law to operate legally for specific purposes through registration with local governments and the establishment of articles that declare intent. There are online directories that can be used to search existing business names.…

Most businesses are going to have numerous transactions each accounting period. It is important that these transactions are identified as they occur. While this used to be done manually, accounting software now makes this task easy. What was once difficult to stay on top of is now easy for anyone to manage. HighRadius Autonomous Accounting…

For businesses that use the accrual accounting method, direct material expenses are incurred when the raw material is used, not when it is purchased. We understand what direct material costs are so now it’s time to talk about the formula used to calculate them. Calculate direct materials costs when doing a physical inventory and adding…