What Is the Meaning of Going Concern in Accounting?
Credit ratings from agencies like Moody’s or Standard & Poor’s can provide insights into a company’s financial stability. A downgrade in these ratings often signals...
Why Choose Accountancy as a Profession: Benefits and Career Opportunities
Being able to immediately access your cash balance information, along with seeing how much income and expenses you have, are the benefits of using a...
8 Step Guide for Reading Nonprofit Reports
This report will show them which of your activities brought cash into your operation during the period and which expenses ate up large chunks of...
Topic no 419, Gambling income and losses Internal Revenue Service
If you win more than $5,000 in net gambling winnings from a poker tournament, then this money should be reported on a Form W2-G. Keep...
Cash Disbursement Journal: Definition & Examples
The cash disbursements journal is typically setup the same as other journal with columns for the transaction date, payee name, account debited, account credited, and...
General Ledger Vs Trial Balance
The Trial Balance is a statement that lists all the balances of the General Ledger accounts at a specific point in time. It serves as...
Calculating EBIT in QuickBooks Made Easy
The accrual method requires businesses to recognize revenue when they earn it and expenses when they incur revenue. If the balance increases yearly, the business...
Calculating EBIT in QuickBooks Made Easy
The accrual method requires businesses to recognize revenue when they earn it and expenses when they incur revenue. If the balance increases yearly, the business...