HR Finance 101: A Guide To Finance for HR
AIHR
JANUARY 11, 2023
Labor costs like salaries, benefits, and related taxes make up as much as 70% of total operating costs of a business. For example, when a business purchases a new asset worth $1,000 on credit, the amount would be entered as a debit in the equipment (asset) account and a credit in the accounts payable (liability) account.
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