by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is a Certified Management Accountant (CMA)?Certified Management Accountant or CMA is a recognized credential with unique attention on corporate finance and management accounting.What does a Certified Management Accountant Do?Certified Management Accountant (CMA)...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is a Chart of Accounts?A chart of accounts is a list of elements necessary to undertake an accounting of operations performed by a company. The list of accounts has these elements; assets, liabilities, and owners capital in addition to revenues and expenses...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is a Charge-Off?A charged-off account refers to an account held by a creditor that has not been paid by a debtor. The creditor has stopped collection efforts and designated the debt as uncollectable.How does a Charge-Off Work? Once a lender considers collection...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is a Capital Gain?A capital gain is the returns acquired from the disposing of assets. Capital gain is achieved when the selling price is higher than the buying price. However, there will be a loss when the buying price is higher than the selling price.Note: This...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is Backflush Costing?Backflush costing is a product costing system that is normally used in a just-in-time (JIT) inventory environment. Backflush costing, also referred to as backflush accounting, is used to delay the costing process until the completion of the...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is a Break-Even Analysis?Break-even analysis is an economic assessment of the mathematical correlation between sales and expenses revenue, under a specified set of assumptions concerning variable and fixed costs. Plainly stated, it is a measure of how long it...
