accounting

An introduction on how to become a valuable FP&A analyst on a white and orange and white background with an illustration.

How to Become A Valuable FP&A Analyst?

A valuable FP&A analyst is a professional who is responsible for providing financial analysis and support to an organization. In addition, this can include tasks such as creating financial models, developing budgets and forecasts, analyzing variances, and supporting decision-making processes. Also, a valuable FP&A analyst often works closely with other finance professionals, such as controllers …

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How to Use Standard Costing and Variances?

Businesses utilize standard costing as a method to monitor their expenses. In other words, it entails establishing a “standard” cost for each good or service and measuring actual costs to these benchmarks. Additionally, you can track direct and indirect expenses using standard costing. On the other hand, variance analysis is a method for contrasting actual …

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An illustration showing accounting calculations done using the Activity-Based Costing method.

What is Activity-Based Costing in Finance?

The manufacturing sector uses activity-based costing (ABC) most frequently because it improves the accuracy of cost data. Also, it is effective in identifying the expenses a firm incurs throughout the production process. Therefore, here is everything you should know about activity-based costing if you are a finance professional. Definition of Activity-Based Costing Activity Based Costing …

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An illustration of sheets with calculations using the cash or accrual method.

Difference between Cash Vs. Accrual Method in Finance

The timing when revenue and expenses are recorded is the key distinction between the cash vs. accrual method. Therefore, do you understand the difference? Also, based on these two principles, you can define the two different accounting methods to use. Cash Vs. Accrual Method Here are the differences, benefits, and accounting of the cash vs. accrual …

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