Expert insights and detailed technical documentation about Environment.
The final accounting is the final step of the accounting process. Final accounting includes the Statement of Profit & Loss and Balance Sheet, which pr...
Merchandise inventory is reported as an asset. There are two main types of assets: current and non-current. Non-current assets include long-term investmen...
The primary task of accountants, which extends to all the others, is to prepare and examine financial records. They make sure that records are accurate an...
The history of accounting or accountancy is thousands of years old and can be traced to ancient civilizations. The early development of accounting dates b...
06 June 2014 Adjusted purchases means opening stock plus purchases less closing stock. Closing stock has two effects. When one effect is included in trial...
They are also called “Sales Returns”. Inward returns reduce the total accounts receivable for the business. It is a sales return and on the other, it is a...
The DFAS mission is to direct, approve, and perform finance and accounting activities for DoD. DFAS pays all DoD military and civilian personnel, retirees...
The trial balance may be pre-closing or post-closing. A pre-closing trial balance includes balances of both temporary and permanent accounts, and a post-c...
The first-in, first-out (FIFO) inventory cost method assumes the oldest inventory is sold first. This leads to minimizing taxes if the prices of inventory...
Originally, “debits” did have a “bad” side. They were used to record the debts of the merchant or businessman. Debits were debtors. And the abbreviation f...
33) Trade credit is a source of spontaneous financing. What is included in spontaneous liabilities? Spontaneous liabilities are the obligations of a compa...
Multiple causation refers to an event having not just one cause, but several different causes. What does multiple causation mean in sociology? MULTIPLE CA...
