Expert insights and detailed technical documentation about Science.
a purchases journal to record ALL CREDIT PURCHASES. a cash receipts journal to record ALL CASH RECEIPTS. a cash disbursements journal to record ALL CASH P...
Current liabilities (short-term liabilities) are liabilities that are due and payable within one year. Non-current liabilities (long-term liabilities) are...
“The three financial statements are the income statement, balance sheet, and statement of cash flows. The income statement is a statement that illustrates...
The technology, media, and telecom (TMT) sector is an industry grouping that includes the majority of companies focused on new technologies. The TMT secto...
Temporary differences are defined as being differences between the carrying amount of an asset (or liability) within the Statement of Financial Position a...
A lapsing schedule is a spreadsheet that lists the purchase date, depreciation, and other accounting actions related to a fixed asset. The intent of the s...
Restricted cash typically appears on a company’s balance sheet as either “other restricted cash” or as “other assets.” Under which section of the balance ...
To calculate a company’s EPS, the balance sheet and income statement are used to find the period-end number of common shares, dividends paid on preferred ...
Non-operating income includes the gains and losses (expenses) generated by other activities or factors unrelated to its core business operations. Operatin...
“Owner Withdrawals,” or “Owner Draws,” is a contra-equity account. The cash account is listed in the assets section of the balance sheet. For example, if ...
Disadvantages Of Straight Line Method Of Depreciation Faulty Assumption. Loss Of Interest Or Revenue. Difficult To Estimate Life. Not Suitable For Large F...
One of the most important calculations that an income statement shows is the gross profit. Gross profit is calculated by subtracting the business’s total ...
