Author: Anfisa Dmitrieva

Long-term liabilities are obligations that are due for repayment in periods beyond one year, including bonds payable, leases, and pension obligations. Treasury stock is previously outstanding stock bought back from stockholders by the issuing company…

Locate the company’s total assets on the balance sheet for the period. Total all liabilities, which should be a separate listing on the balance sheet. Locate total shareholder’s equity and add the number to total liabilities. Total assets will equal …

The table below illustrates the units-of-production depreciation schedule of the asset. Depletion and amortization are similar concepts for natural resources and intangible assets, respectively. As you can see, this formula is fairly simple to perfor…

Today, forensic accounting is a fully formed profession that has evolved as the business world has changed and progressed, both domestically and internationally. Accordingly, most fraud examinations are forensic accounting but not all forensic accoun…

The changing law of marginal cost is similar to the changing law of average cost. They are both decrease at first with the increase of output, then start to increase after reaching a certain scale. While the output when marginal cost reaches its mini…

A post-closing trial balance is a trial balance which is prepared after all of the temporary accounts in the general ledger have been closed. Permanent accounts are accounts that once opened will always be a part of a company’s chart of accounts. Rev…

Identifying and exploring all realistically possible non-fraudulent, non-corrupt explanations for an anomaly is also called reverse proof. Examining and eventually ruling out all of the valid possible non-fraudulent explanations for an anomaly in the…