The primary purpose of the statement of cash flows is to: a provide information about the investing and financing activities during a period. b. prove that revenues exceed expenses if there is a net income. c. provide information about the cash receipts

Dec 6, 2021 | Bookkeeping

For example, if you calculate cash flow for 2019, make sure you use 2018 and 2019 balance sheets. It’s important to note that cash flow is different from profit, which is why a cash flow statement is often interpreted together with other financial documents,...

A Beginner’s Guide to Using Contra Asset Accounts

Sep 28, 2021 | Bookkeeping

ContentAllowance for doubtful debts accountsWhat you’ll learn:Overview of Contra Asset AccountПримеры для contra accountAccumulated depreciation Put simply, contra accounts are used to reduce the normal accounts on the balance sheet. If the related account has a...

What is specific gravity?

Mar 25, 2021 | Bookkeeping

ContentUnderstanding SG&A: Selling, General, Administrative Expenses – Definition and Explanation – Recommended ReadingWhy Do You Need to Know SG&A for Your Business?Standard GambleHow to Calculate SG&A ExpensesDepreciation and amortization...

Accounting Wikipedia

Oct 28, 2020 | Bookkeeping

ContentFinancial Accounting StandardsWhat are the different types of accounting?Debit BalanceCost Recovery MethodThe Plain-English Guide to Revenue Run Rate [Infographic]Building Better Businesses The Alliance for Responsible Professional Licensing (ARPL) was formed...