It also helps when you’re deciding where to allocate resources since your decisions are based on what is actually happening, not old forecasts. Ultimately, it gives you more confidence top-down vs bottom-up budgeting in your financial planning and keeps things running smoothly. Choosing the right method depends on your company’s structure, goals, and how much […]
Category Archives: Bookkeeping
With 3,183 active lawyers serving 324,000 active businesses, selecting the right legal representation can significantly impact operational efficiency and compliance outcomes. An in-house bookkeeper works directly within your firm, offering immediate support and a personal touch. Having someone in-house can be particularly beneficial when it comes to handling sensitive client billing and trust account management. […]
CosmoLex stands out from other legal practice management solutions by offering a unique combination of features specifically designed to meet the needs of law firms. It is an end-to-end cloud-based platform that integrates practice management, billing, accounting, and trust accounting in a way that is seamless, secure, and user-friendly. CosmoLex offers built-in trust accounting so […]
Non-cash items like write-downs, impairments, and stock-based compensation are the behind-the-scenes crew that also influence the plot. The plot behind this step revolves around the outcome of your business’s operations. Revenue is nothing but a high-five retained earnings statement until you subtract the costs it took to rack up those sales. Dividends This financial flexibility […]
Thus, the cost structure of an entire department can be said to be a mixed cost. Mixed costs, also known as semi-variable or semi-fixed costs, are expenses that contain both fixed and variable components. This means that part of the cost remains constant regardless of the level of activity, while the other part varies with […]