Bookkeeping 101

Your account books don’t always reflect the real-world value of your business assets. The carrying value of an asset is the figure you record in your ledger and on your company’s balance sheet. The carrying amount is the original cost adjusted for fa…

Net book value is the amount at which an organization records an asset in its accounting records. Net book value is calculated as the original cost of an asset, minus any accumulated depreciation, accumulated depletion, accumulated amortization, and …

The net income applicable to common shares figure on an income statement is the bottom-line profit belonging to the common stockholders, who are the ultimate owners, a company reported during the period being measured. (To get the basic earnings per …

Which of the following statements is not correct with respect to contributions to a private not-for-profit? A) Contributions to a not-for-profit are recorded at fair market value at the date of receipt….

It’s debit balance will reduce the owner’s capital account balance and the owner’s equity. The drawing account’s purpose is to report separately the owner’s draws during each accounting year. Since the capital account and owner’s equity accounts are …

Naturally, this means that we are utilizing more and more natural resources. These resources are called exhaustible or non-renewable resources. Ever since the earth was inhabited, humans and other life forms have depended on things that exist freely …

At any time, these businesses may elect to change to a calendar year. However, companies that want to change from a calendar year to a fiscal year must get special permission from the IRS or meet one of the criteria outlined on Form 1128, Application…

Ever wondered what NAA means? Or any of the other 1,050,000 slang words, abbreviations and acronyms listed here at Sayitshort.com? Your resource for web acronyms, web abbreviations and netspeak….

In other terms, MLR examines how multiple independent variables are related to one dependent variable. Once each of the independent factors has been determined to predict the dependent variable, the information on the multiple variables can be used t…

Multicollinearity refers to a situation in which two or more explanatory variables in a multiple regression model are highly linearly related. We have perfect multicollinearity if, for example as in the equation above, the correlation between two ind…