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Category Archives: Bookkeeping
As a Priority Circle member, you get access to a dedicated customer success manager who can assist you with any questions or issues you have with your software. You will get priority support through chat and phone, with shorter wait times than non-Priority Circle members. Excel is a spreadsheet program that you can use for […]
Stabling income is one of the earning management strategies that have a direct influence on earnings quality. While it may seem illogical to restrict revenue recognition in good years purposely, companies with predictable financial performance typically have cheaper borrowing costs. It encompasses all strategies for reducing excessive expenses and increasing sales or profits. The methods […]
Both income smoothing and being ethical have ambiguous definitions, which might be problematic in particular instances. In summary, income smoothing is not unlawful or unethical in and of itself; instead, some people turn to unethical measures to achieve the same aim. Income smoothing via the abuse of accounting principles and dishonesty or misrepresentation is unethical and perhaps […]
Income elasticity of demand will denote whether a product is an essential item or a luxury item. Price elasticity of supply measures the responsiveness to the supply of a good or service after a change in its market price. According to basic economic theory, the supply of a good will increase when its price rises. Conversely, […]
A journal is often referred to as the book of original entry because it is the place the information originally enters into the system. A journal keeps a historical account of all recordable transactions with which the company has engaged. In other words, a journal is similar to a diary for a business. When you […]
We now return to our company example of Printing Plus, Lynn Sanders’ printing service company. We will analyze and record each of the transactions for her business and discuss how this impacts the financial statements. Some of the listed transactions have been ones we have seen throughout this chapter. The following transactions took place during […]
Basically, you are changing the Deposit To selection from “Group with Other Undeposited Funds” to a bank account. That wipes out (zeros) the Undeposited Funds and increases your bank account balance. In certain cases, you would receive money from your customers which needs to be deposited into bank accounts. The Undeposited Funds account is used […]
Generally, they issue HELOCs equivalent to around 60% to 85% of the home’s equity. For instance, a borrower might need some extra money for home repairs. A traditional loan will give them $15,000 upfront, if they qualify. On the other hand, when you apply for a line of credit, you are applying for regular access […]
Intangible assets are nonphysical assets, such as patents and copyrights. They are considered to be noncurrent assets because they provide value to a company but cannot be readily converted to cash within a year. Long-term investments, such as bonds and notes, are also considered noncurrent assets because a company usually holds https://accountingcoaching.online/ these assets on its balance […]