Fundamental Accounting Concepts

Content Boundless Business Equation Limits Of The Accounting Equation We will increase the expense account Utility Expense and decrease the asset Cash. We will increase the expense account Salaries Expense and decrease the asset account Cash. Regardless of how the accounting equation is represented, it is important to remember that the equation must always balance. […]

Quickbooks Online Pricing

Content Smb Accounting Reviews How Many Users (Not Including An External Accountant) Will Need To Access The Company Books? What Our Users Are Saying Quickbooks Online Comparison: Simple Start It now connects with my private personnel account and displays this info on screen. The Authentication app they recommended to download clashed with my company Authentication […]

The Relevance Of Gold As A Strategic Asset

Content Gold Demand Trends Q2 2020 The Difference Between Accrued Expenses And Accounts Payable Attributes Of Accounting Elements Per Real, Personal, And Nominal Accounts How Do You Know If Something Is A Noncurrent Asset? Gold Demand Trends Q2 2020 As payments toward bills and loans become due at the end of each month, management must […]

1 What Is A Contra Asset Account? The Balance Of Contra Asset

Content What Is A Contra Account? What Does Contra Mean In Accounting? Accountingtools Contra Account Contra Asset Account The contra revenue accounts commonly used in small-business accounting include sales returns, sales allowance and sale discounts. A contra revenue account carries a debit balance and reduces the total amount of a company’s revenue. The amount of […]

Understanding The Matching Principle

Content Introduction To Basic Bookkeeping And Digital Accounting Study Tips: Accounting Principles And Why You Should Understand Them Fundamentals Of A Business Budget Learning Activities And Teaching Methods (given In Hours Of Study Time) However, in some cases, transactions are difficult to gauge and may have to be estimated at a particular period. Income statements, […]

What Are Different Types Of Liabilities?

Content Current Liabilities What Are The Main Types Of Liabilities? Income Taxes Payable Disadvantages Of Liabilities Types Of Liabilities: Current Liabilities Current Liabilities The company must recognize a liability because it owes the customer for the goods or services the customer paid for. The accounts related to real persons and organizations are classified as personal […]

What Is Royalty Accounting & How It Is Calculated?

Content Let’s Talk About Royalties In Accounting How Royalties Work How To Account For Royalties On Patents What Should My Licensing Royalty Rate Be? Net Revenues Generally accepted accounting principles dictate that expenses be recorded when they are incurred. So, royalty expenses should be incurred when the sale of the licensed item is made. Some […]

Balance Sheets

Content Retained Earnings Formula: Definition, Formula, And Example What Is Included In A Statement Of Retained Earnings? Components Of Stockholders Equity Is Retained Earnings On The Income Statement? These figures are available under the “Key Ratio” section of the company’s reports. For example, during the four-year period between September 2013 and September 2017, Apple stock […]