Cash vs Accrual Accounting: Whats the Difference?
Accrual accounting requires more complex record-keeping and may involve estimates and judgments regarding future events….
How Is Petty Cash Reported in Financial Statements?
Since the petty cash account is an imprest account, this balance will never change and…
The Basic Accounting Equation Formula & Explanation
The major and often largest value assets of most companies are that company’s machinery, buildings,…
What are direct materials?
In order to set an appropriate sales price for a product, companies need to know…
Accounting 101: Debit and Credit
Examples of revenue accounts include sales of goods or services, interest income, and investment income….
In Process vs In Progress Whats the Difference?
Sometimes, we struggle with what to call them before they become finished products. Work in…
Rates of depreciation as per companies act 2013
This point is also the cut-off for recognising directly attributable costs as part of the…
What are direct materials?
In order to set an appropriate sales price for a product, companies need to know…
Accounts Receivable Turnover Ratio: Formula & Examples
The assets turnover ratio compares the revenue generated to the value of the assets of…
Residential Software For Property Managers
Real estate investment management is available for any size organization, with any financial and ownership…
Difference between Budgetary Control and Encumbrance Accounting
Encumbrance accounting is a specialized financial management practice that involves tracking and recording financial commitments,…
What is a Stakeholder? Introduction, Types, & Examples
The meaning of the term changes when applied to the stakeholder in a company. Some…
Accounting Clerk Salary in United Kingdom in 2023
An accounting clerk is a member of a company’s accounting department, responsible for assisting with…
LLC vs PC for the solo practice
Although the tax break is no longer available for PCs, other advantages make it appeal…
1 1: Introduction- What Is Accounting Business LibreTexts
As a business owner, you must understand your organization’s assets, inventory and liabilities. This knowledge…
Assets that Can and Cannot Be Depreciated
This is done by taking the asset’s original purchase price and dividing it by the…