Bookkeeping

Common liabilities include accounts payable, deferred income, long-term debt, and customer deposits if the business is large enough. Although assets are usually tangible and immediate, liabilities are usually considered equally…

FIFO may be suitable for manufacturers with consistent production processes, while LIFO may be beneficial for those facing rising material costs. The choice of method should align with the company’s…

To increase profit, and hence earnings per share (EPS) for its shareholders, a company increases revenues and/or reduces expenses. Investors often consider a company's revenue and net income separately to…

To calculate composite depreciation rate, divide depreciation per year by total historical cost. To calculate depreciation expense, multiply the result by the same total historical cost. 150% declining balance depreciation…

From monitoring cashflow to managing expenses, MYOB equips Team Bookkeeping with the tools needed to maintain a healthy and thriving business. Handle every aspect of your practice's bookkeeping, invoicing, expenses,…

Additionally, Accounts Payable could refer to the department responsible for these expenses. Some people mistakenly believe that accounts payable refer to the routine expenses of a company’s core operations, however,…

When conducting a reconciliation at the end of the month, the accountant noticed that the company was charged ten times for a transaction that was not in the cash book.…

In our opinion, it will be important for all the agents in the ecosystem to understand how blockchain provides similar benefits. For example, due to the potential risks of disclosing…