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How to Calculate Target Profit

As a business matures and stabilizes, it’s common for management to begin planning the company’s goals, with the most common being profit. The term for this is called Target Profit, and here we will discuss the planning and formulas to help you begin this process. Target Profit Definition Target profit analysis refers to the anticipated …

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What are Permanent Accounts?

The bookkeeping process utilizes permanent accounts, also known as real accounts, to record balance sheet items, such as assets, liabilities, and owner’s equity, as of a point in time. This is the opposite of temporary accounts used to measure activity over a specified date range. Understanding permanent accounts are critical for month-end-close and the generation …

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