Bookkeeping

Therefore, the bank needs to add back the cheque’s amount to the bank balance. This means that the bank balance of the company is greater than the balance reflected in its cash book. While [...]

Federal governmental rules, on the other hand, require that all publicly traded corporations file their financial statements, records, and transactions in accordance with GAAP. Thus, even if GAAP [...]

The journal entry reflects that the supplier recognized the transaction as revenue because the product was delivered, but is waiting to receive the cash payment. Hence, the debit to the accounts [...]

You can learn bookkeeping for free and at a low cost through online courses. These courses focus on bookkeeping fundamentals to help improve bookkeeping knowledge and skills. For example, you [...]

Foreign corporations, those that are formed outside of Delaware, cannot file online. With this type of business, your business income will be distributed to you as the sole proprietor. You will [...]

In addition, the cost of getting the land ready for its intended use is added to the Land account. Investors also use this ratio to decide when a company may be purchasing major new fixed assets. [...]

Check out our 2024 best accounting software guide for small businesses or details on specific products, like our QuickBooks Online review. If you struggle to get your clients to pay their [...]

It studies the impact of increase or decrease in fixed and variable costs on profits. The increase in fixed cost has no effect on the P/V ratio of the firm. However, the BEP shifts upward because [...]

Traditional back-office IT help desks operate almost solely on emailed requests that can easily become lost and overlooked. Spreadsheets — a high-risk method to store data — log these requests [...]

Note that the ending retained earnings amount determined in the Statement of Retained Earnings columns appears again as a credit in the Balance Sheet columns. The ending retained earnings amount [...]