Author Anfisa Dmitrieva Posted on Posted on: 05.05.2020 Modified on: 11.01.2022Categories Bookkeeping 101 Leave a comment on Accountant job descriptionIn cash-basis accounting, cash earnings include checks, credit-card receipts, or any other form of revenue from customers. GAAP is a common set of accounting principles, standards, and procedures that public companies in the U.S. must follow when the…
Author Anfisa Dmitrieva Posted on Posted on: 05.05.2020 Modified on: 11.01.2022Categories Bookkeeping 101 Leave a comment on Difference Between Share Capital and Share PremiumThe premium on common stock is the difference between the par value of a share of stock and the price at which a business sells the share to investors. Par value is the face value printed on a stock certificate; it is usually quite small, with $0.01 …
Author Anfisa Dmitrieva Posted on Posted on: 30.04.2020 Modified on: 11.01.2022Categories Business Accounting Blog Leave a comment on What is a Contra Asset AccountContra asset accounts can include the following accounts:…
Author Anfisa Dmitrieva Posted on Posted on: 28.04.2020 Modified on: 11.01.2022Categories Business Accounting Blog Leave a comment on What is a Contra Revenue AccountIt is useful to work with the contra revenue account in the following situations:…
Author Anfisa Dmitrieva Posted on Posted on: 14.04.2020 Modified on: 25.01.2023Categories Business Accounting Blog Leave a comment on What is Xero?The company offers three services:…
Author Anfisa Dmitrieva Posted on Posted on: 31.03.2020 Modified on: 11.01.2022Categories Business Accounting Blog Leave a comment on What is a Posting in Accounting?An account post is usually done through a strict procedure that follows the creation of a journal entry from details of a particular transaction. Note that this is considered as the third step in the accounting cycle….
Author Anfisa Dmitrieva Posted on Posted on: 24.03.2020 Modified on: 11.01.2022Categories Business Accounting Blog Leave a comment on What is Royalties in AccountingIn royalties, the owner is not selling full legal ownership of the asset, but simply the right to manufacture it. If the rights to ownership of a property are sold, that would be called capital expenditure. This is how the two differ. There are actua…
Author Anfisa Dmitrieva Posted on Posted on: 11.03.2020 Modified on: 11.01.2022Categories Business Accounting Blog Leave a comment on Accruals and Deferrals — What is the differenceAccrual and deferral pertain to both expenses and revenue that are recorded based on the actual time period they were settled. Accruals are those payables or receivables that are also earned or incurred but not yet received or unpaid to set the demar…
Author Anfisa Dmitrieva Posted on Posted on: 06.03.2020 Modified on: 11.01.2022Categories Business Accounting Blog Leave a comment on What is QuickBooksThere is a period of the trial while you can use QuickBooks online for free. It is a good chance to work with the program in a test mode. During this time, you can decide if this application corresponds to your needs and wishes. When this period ends…
Author Anfisa Dmitrieva Posted on Posted on: 25.02.2020 Modified on: 11.01.2022Categories Business Accounting Blog Leave a comment on Retained ratio definition, formula and examplesRetained ratio definition is easy to remember. The profit retention rate is the rate of reinvestment of profit in fixed assets. …
