When you make a debit entry to a revenue or expense account, it decreases the account balance. In double-entry bookkeeping, the normal balance of the account is its debit...
You may be tempted to figure out exactly how many questions you must answer correctly to pass, but you shouldn’t worry about it. You won’t be able to tell...
The contra asset account Accumulated Depreciation is deducted from the related Capital Assets to present the net balance on the parent account in a company’s balance sheet. Contra revenue...
The allowance for doubtful accounts is not specifically reported, but the 10(K) reported that the allowance is immaterial to the amount. This makes sense because Home Depot wouldn’t be...
Thus instead of determining the costs of a product, Kohler determined the costs of an activity. On the left side of this account Staubus recorded the costs of the...
In the United States, generally accepted accounting principles (GAAP) are regulated by the Financial Accounting Standards Board (FASB). In Europe and elsewhere, International Financial Reporting Standards (IFRS) are established...
Profit margin is an indicator of a company’s profitability that technically means “percentage of revenue”. However, the term is often used interchangeably with the words income, revenue, earnings, profit...
Accountants are often located within the accounting department of a company and report directly to an accounting manager. Coursera’s editorial team is comprised of highly experienced professional editors, writers,...
You want a solution that is easy for you to use and easy for your clients to use. QuickBooks Online Accounting, Wave Accounting and Sage Business Cloud Accounting are...
