Labor productivity refers to the work output accomplished using the resources available. Productivity is more on getting as much output given a certain timeframe while efficiency is focused on getting the same amount of output in less amount of time. Whereas efficiency is focused more on work quality, productivity is more about work quantity. This
The basic principles of construction accounting include tracking job costs and revenue recognition. These software options can help construction companies manage their finances, track job costs, and create invoices. Additionally, many of these software options can integrate with other software, such as payroll software or project management software, to further improve efficiency. Financial statements are
Standard costing is widely used in manufacturing accounting in the Philippines due to its simplicity and efficiency. It involves setting predetermined costs for direct materials, labor, and overhead based on past performance and market trends. From inventory management to payroll and accounts payable, accounting software helps manage the financial aspects of a business. Standard Costing
