Retained Earnings: Definition, Formula & Example
April 10, 2023 7:12 am Leave your thoughtsLenders are interested in knowing the company’s ability to honor its debt obligations in the future. Lenders want to lend... View Article
Categories for Bookkeeping
3 5: General Rules for Debits and Credits Business LibreTexts
March 30, 2023 11:30 am Leave your thoughtsRecording Revenue as a Credit can benefit businesses if done correctly since it offers accurate tracking ability that can help... View Article
Difference Between Debtors and Creditors with examples
March 29, 2023 3:00 pm Leave your thoughtsNow that we understand the definition of a creditor in accounting let’s explore the different types of creditors that exist.... View Article
Audit Procedures for Accounts Payable Risks and Assertions Included
March 3, 2023 11:15 am Leave your thoughtsNon-standardized documentation is a common mistake in manual reconciliation; automation is a great way to ensure that documents are completely... View Article
Property Types and Abandonment Periods
February 27, 2023 2:37 pm Leave your thoughtsInstead, they consider it during the bank reconciliation process to ensure that the cash balance reported on the balance sheet... View Article
Capital Budgeting: A Detailed Exploration of Corporate Investment Decisions
February 6, 2023 9:02 am Leave your thoughtsInvesting in capital assets is determined by how they will affect cash flow in the future, which is what capital... View Article
What Does “MM” Stand for in Dollars?
January 23, 2023 1:47 pm Leave your thoughtsSOX (The Sarbanes-Oxley Act) – A law enacted in 2002 to improve the accuracy and reliability of financial information reported... View Article
Chart Of Accounts: Definition, Types And How it Works
December 20, 2022 5:24 pm Leave your thoughtsLiabilities are best described as debts that don’t directly generate revenue, though they share a close relationship. The money borrowed... View Article
Cost of Goods Sold: Defining & Calculating COGS
October 19, 2022 4:41 pm Leave your thoughtsIn other words, divide the total cost of goods purchased in a year by the total number of items purchased... View Article
Ultimate Guide: Accounts Payable Outsourcing
October 7, 2022 9:54 am Leave your thoughtsA shared services center (SSC) is a centralized and consolidated business unit that provides services for multiple units within the... View Article