Young Wave Studio

Bookkeeping and Accounting For Veterinary Services

The cost of veterinary software begins at $100 a month per user or location and can range to over $600 a month. To obtain the best pricing some vendors require a minimum contract commitment of two to three years. When shopping for e-commerce accounting software, you’ll want to make sure that it connects to all […]

How To Determine an Asset’s Salvage Value

The beginning balance of the PP&E is $1 million in Year 1, which is subsequently reduced by $160k each period until the end of Year 5. We’ll now move to a modeling exercise, which you can access by filling out the form below. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA […]

Work-in-Process Inventory WIP: Definition, Formula, and Examples

Some folks refer to work in process inventory only in the context of production operations that move along relatively quickly. They reserve work in progress for larger-scale projects like consulting or construction work. COGM represents the total cost incurred in the production process during a specific period. COGS reflects the cost of goods sold during […]