Bookkeeping

Without GAAP, accountants could use misleading methods to paint a deceptive picture of a company or organization’s financial standing. GAAP is focused on the accounting and financial reporting of U.S. companies. The Financial Accounting Standards Board (FASB), an independent us accounting vs international accounting nonprofit organization, is responsible for establishing these accounting and financial reporting …

What We Know About the Hamas Attack and Israels Response The New York Times Leer más »

Reading (/ˈrɛdɪŋ/ (listen) RED-ing)[2] is a town in Berkshire, England. Most of its built-up area lies within the Borough of Reading, although some outer suburbs are parts of neighbouring unitary authority areas. Located in the Thames Valley at the confluence of the rivers Thames and Kennet, Reading is 40 miles (64 km) east of Swindon, 24 …

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If the payment was made on June 1 for a future month (for example, July) the debit would go to the asset account Prepaid Rent. The exceptions to this rule are the accounts Sales Returns, Sales Allowances, and Sales Discounts—these accounts have debit balances because they are reductions to sales. 2 2 perpetual v. periodic …

Debit vs Credit: Bookkeeping Basics Explained Leer más »

According to the SEC, mutual funds and Unit Investment Trusts (UITs) are required to calculate their NAV at least once every business day. Assume that a mutual fund has $100 million worth of total investments in different securities, which is calculated based on the day’s closing prices for each asset. With a mutual fund, assets …

What are net assets? Investing Definitions Leer más »

Accountants are more specialized, so not every company has an in-house accountant. You can use a firm or work with accounting software for your business needs. However, it’s important to note that your bookkeeper won’t be the only person working on your business finances. So you’ll want to understand which tasks your bookkeeper is and …

Bookkeeping and Accounting: Difference, Process, Example Leer más »

The working capital ratio can be useful in helping you measure liquidity. It represents a company’s ability to pay its current liabilities with its current assets. Another way to look at the return on assets is in the context of the Dupont method of financial analysis. This method of analysis shows you how to look at the …

What Are Financial Ratios? 9 Examples and Use Cases Leer más »

Book value per share tells investors what a bank’s, or any stock’s, book value is on a per-share basis. The book value of a company should be easy to determine according to their balance sheet. This lists their current assets and liabilities, making it easier to use the formula above to determine a book value. …

Book-to-Market Ratio Definition Leer más »

The purchase returns account will always have a credit balance. The Debit Balance will then offset this credit balance in the Purchase Account. The transactions of return of goods are also accounting transactions and have to be recorded in the books of accounts just like any other accounting transaction. Purchases A/C’ is not used while …

What Is Purchase Returns In Accounting? Leer más »