In financial accounting and taxes, attributing expenses to the correct category isn’t just a tip or guideline; it’s a requirement when filing IRS forms, requesting grant funds, or reporting to ...

Direct costs -- such as labor and parts -- are those linked to the provision of services or the manufacturing of goods. Look for these costs in the "cost of goods sold" section of a statement of ...

Cost allocations using the direct labor method of accounting work the best when a business produces only one or two types of products. Using this traditional method of determining a company's labor ...

A new Technical Question and Answer (TQA) issued by the AICPA discusses the characteristics of expenses that would be considered “direct care of existing collections” under a new FASB standard that ...