Have the latest local news delivered every day so you don’t miss out on updates. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike License . My Accounting Course is a world-class educational resource developed by experts to simplify accounting, finance, & investment analysis topics, so students and professionals can learn and…
Most prepaid expenses appear on the balance sheet as a current asset unless the expense is not to be incurred until after 12 months, which is rare. A prepaid expense is carried on the balance sheet of an organization as a current asset until it is consumed. The reason for the current asset designation is…
A general ledger or accounting ledger is a record or document that contains account summaries for accounts used by a company. In other words, a ledger is a record that details all business accounts and account activity during a period. You can think of an account as a notebook filled with business transactions from a specific account, so the…
When a company borrows money, it receives cash, which appears on its balance sheet as an asset. But this, of course, also incurs debt, which goes into the balance sheet as a liability. As the company spends the borrowed money, http://poiskfan.ru/obnovlenie-xp-orx-versija-0-1-1/ it reduces its assets and lowers its shareholders’ equity unless the business repays its…
There are actually multiple different types of accounting, each of which is better suited to different purposes. Nick Charveron is a licensed tax practitioner, Co-Founder & Partner of Community Tax, LLC. His Enrolled Agent designation is the highest tax credential offered by the U.S Department of Treasury, providing unrestricted practice rights before the IRS. Typically,…