Marketing Manager
GAAP allows LIFO and expenses R&D; IFRS bans LIFO and capitalizes development — four framework gaps that change reported profit, and records that survive both.
GAAP books assets at what you paid, not what they are worth — except securities, write-downs, and crypto, which follow fair value.
Leasing vs. buying comes down to after-tax present value — Section 179 favors buying, obsolescence risk favors leasing. Run the NAL to decide.
Your margin of safety is sales minus break-even sales — how far revenue can fall before losses start. Compute it in dollars, units, and percent.
A master budget rolls your sales, production, and cash budgets into one annual plan — build each schedule in sequence, then compare actuals monthly.
Phantom income is taxable income with no matching cash — K-1 allocations, forgiven debt, OID. The IRS taxes the gain; plan liquidity to pay it.
Post-money equals pre-money plus the investment — and which number a term sheet quotes decides whether a $1M check buys 20% or 25% of your startup.
Sales mix is your products' sales share — a tilt toward low-margin items cuts profit while revenue holds still. Track your weighted-average margin monthly.
Miss one of three tests and your trust files Form 1041 as complex — taxed at 37% past $16,000 instead of at your beneficiary rate.
Sales, purchases, cash receipts, and cash disbursements journals group repeating transactions so you post monthly totals, not hundreds of entries.
A T-account puts debits on the left and credits on the right of one ledger account — sketch one to check any journal entry before you post it.
Underapplied overhead means actual spending beat applied overhead — close a small variance to COGS, prorate a material one across WIP, finished goods, and COGS.
