Expert insights and detailed technical documentation about Culture.
When a company has performed a service but has not yet received payment,it a. b. c. d. debits accounts receivable and credits revenue from services. debit...
To add a journal entry In MYOB Essentials, click your business name and choose General journals. Click Create Journal. Enter a date in the Date field, or ...
A lapping scheme is a fraudulent practice that involves altering accounts receivables to hide stolen cash. The method involves taking a subsequent receiva...
Advantages of a capital lease Capital leases recognize expenses sooner than equivalent operating leases. The lessee is allowed to claim depreciation each ...
Companies can increase the inventory turnover ratio by driving input costs lower and sales higher. Cost management lowers the cost of goods sold, which dr...
The “net-to-gross ratio” or “net/gross” (N/G) is the total amount of pay footage divided by the total thickness of the reservoir interval (for simplicity,...
The post-closing trial balance will include only the permanent/real accounts, which are assets, liabilities, and equity. All of the other accounts (tempor...
The separate entity concept is useful for determining the true profitability and financial position of a business. It should also be applied to the operat...
Advantages of a capital lease Capital leases recognize expenses sooner than equivalent operating leases. The lessee is allowed to claim depreciation each ...
Auditors are required by ISA 260 to communicate audit matters of governance interest to those charged with governance. It is important that those charged ...
Profit’s Effect on the Balance Sheet The profit or net income belongs to the owner of a sole proprietorship or to the stockholders of a corporation. If a ...
Administrative overhead is those costs not involved in the development or production of goods or services. Examples of administrative overhead costs are t...
