Bookkeeping

Unloading costs typically fall under the responsibility of the buyer in FOB delivery. The opposite is FOB Destination, where the seller remains responsible for goods until they reach the buyer’s destination. Notably, some Incoterms are designed exclusively for sea transport, while others are versatile enough for any mode of transportation. Consider shipping costs DDP means …

Free on Board FOB Shipping Points: All You Need To Know 2024 Lire la suite »

In FOB shipping point agreements, the seller pays all transportation costs and fees to get the goods to the port of origin. Once the goods are at the point of origin and on the transportation vessel, the buyer is financially responsible for costs to transport the goods, such as customs, taxes, and fees. The fitness …

FOB Incoterms® meaning Free on Board shipping Lire la suite »

In other words, you should tend to take the position that is records the most expenses and least income. This is the main principle behind the lower of cost or market concept for recording inventory. The conservatism principle is the general concept of recognizing expenses and liabilities as soon as possible when there is uncertainty …

Accounting Conservatism Defintion, Pros, Cons Lire la suite »

Shaun Conrad is a Certified Public Accountant real estate development model and CPA exam expert with a passion for teaching. After almost a decade of experience in public accounting, he created MyAccountingCourse.com to help people learn accounting & finance, pass the CPA exam, and start their career. Someone on our team will connect you with …

Concervatism Principle Examples Lire la suite »