Expert insights and detailed technical documentation about Environment.
The main users (stakeholders) of financial statements are commonly grouped as follows: Investors and potential investors are interested in their potential...
Negative working capital is formed either when short-term liabilities are used for long term purposes or current assets face a blow e.g. current liabiliti...
Special Journals Types and Purposes of Special Journals Journal Name Journal Purpose Account(s) Debited Sales Journal Sales on credit Accounts Receivable,...
A depreciation expense has a direct effect on the profit that appears on a company’s income statement. The larger the depreciation expense in a given year...
Types of Accounting Standards: (1) Disclosure Standards: (2) Presentation Standards: (3) Content Standards: Which standard did IFRS replace in Nigeria? IF...
The company can make the closing entry for expenses by debiting the income summary account and crediting all expenses accounts. Likewise, after transferri...
Amortization and depreciation are non-cash expenses on a company’s income statement. Depreciation represents the cost of capital assets on the balance she...
Extra expense insurance is coverage that pays for a company’s non-ordinary expenses after a disruptive incident. It provides cash to help you stay in busi...
Fixed Deposit is an asset . It may be classified under the group of Long Term Investments . But it can be turned to cash in a short time! What is included...
Diluted EPS is important for shareholders simply because it lays down the earnings that a shareholder would get in the worst of the scenarios. If a public...
When you record depreciation on a tangible asset, you debit depreciation expense and credit accumulated depreciation for the same amount. This shows the a...
Cost Value . (aka “Book Value”) means the original cost of the investment, plus accrued interest and amortization or accretion of any premium or discount....
