These are some simple examples, but even the most complicated transactions can be recorded in a similar way. If a transaction is completely omitted from the accounting books, it will not unbalance the accounting equation. The basic concept of accounting equation is to express two main points in the accounting rule. The fundamental accounting equation, […]
فئة الآرشيفات: Bookkeeping
As years go by and you deduct less of the asset’s value, you’ll also be making less income from the asset—so the two balance out. If you’re brand new to the concept, open another tab and check out our complete guide to depreciation. Then come back here—you’ll have the background knowledge you need to learn […]
Find out more on bookkeeping accounting skills, how to earn accounting degrees and bookkeeping certifications, getting jobs, salary expectations, and more. In the oil & gas industry, companies must often contend with growing demands and limited resources. The challenge comes when existing constraints such as limited personnel and outdated operating systems begin to negatively impact […]
It’s recorded under a business’ balance sheet, along with other types of liabilities, assets, and owner’s equity. Accounts payable accounts for financial obligations owed to suppliers after purchasing products or services on credit. Creating and adjusting journal entries for unearned revenue will be easier if your business uses the accrual accounting method, of which the […]
Send invoices as soon as possible, and be proactive about following up on overdue payments. In this article, we’ll go over types of cash flow and formulas for calculating it. You’ll also find tips for managing cash flow to promote stability and growth for your business. These figures can also be calculated by using the […]
You still get your product, but the payment is deferred – meaning it is put off to a later time. As long as you get paid or pay in cash, sure, the act of buying or selling is immediately followed by payment. Given the principle of time value of money, low turnover rates means the […]