Economic Order Quantity (EOQ)

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering The economic order quantity is the optimum quantity of an inventory item to be purchased per order in order to minimize the “ordering cost” and “carrying cost”. Most likely, a simple google search will show the general formula used for calculating EOQ. But how…

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Employee Retention Credit – CARES ACT

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been…

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