Fixed vs Variable Costs with Industry Examples

Please do not copy, reproduce, modify, distribute or disburse without express consent from Sage.These articles and related content is provided as a general guidance for informational purposes only. Accordingly, Sage does not provide advice per the information...

Going concern: IFRS® Standards compared to US GAAP

The auditor should not use conditional language regarding the existence of substantial doubt about the entity’s ability to continue as a going concern. So, if management’s plans are expected to work, does the company have to explicitly state that management’s...

How to Hire the Right Bookkeeper for Your Small Business

An online bookkeeping solution uses cloud-based software to connect you with a team of bookkeepers, who do your books for you (like Bench). It’s similar to a bookkeeping firm, except more affordable, since automation cuts the bulk of manual work. This is a great...

What Is a Contra Account? Types + Examples

In order to record this ongoing value drop, you would use a corresponding contra account — an Asset Depreciation account. Each type of contra account has its specific purpose in financial reporting, helping to present a more accurate and detailed picture of a...