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Practical Accounting Knowledge for Better Financial Decisions

Explore accounting education, bookkeeping guidance, financial reporting concepts, Xero insights, and practical information for business owners, students, professionals, ministries, and nonprofit organizations.

Absorption Costing versus Variable Costing

In this video, the difference between Absorption Costing and Variable Costing are described. In addition, an example of a Gross Profit Income Statement (Absorption Costing) and a Contribution Margin Income Statement (Variable Costing) is demonstrated.


The Classified Balance Sheet

In this video, I discuss what a classified balance sheet is and how to create one. In addition, I discuss two liquidity ratios: the Current Ratio and the Debt Ratio.




https://youtu.be/7U1a94hF4LE