Start-up costs and Organizational costs

By Shahul Hameed Irfan ACMA, CPA, CGMA, B.Sc.(Hons) The purpose of this blog article is to provide a general idea on start-up costs/ organizational costs and how to identify, calculate and recognize them for accounting and reporting purposes. What are start-up costs? Start-up costs can be defined as any expense incurred before the active business…

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Accounting Recipe for Restaurants

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering Finding the right formula for revenue, cost of goods sales (COGS), labor costs, promotional giveaways, controllable overheads and non-controllable overheads is essential in running a restaurant entity. The reason for most restaurants being short-lived is not the taste of food or the service level….

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