๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž ๐‘๐ž๐œ๐จ๐ ๐ง๐ข๐ญ๐ข๐จ๐ง ๐๐ซ๐ข๐ง๐œ๐ข๐ฉ๐ฅ๐ž

๐‹๐ž๐š๐ซ๐ง ๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž ๐‘๐ž๐œ๐จ๐ ๐ง๐ข๐ญ๐ข๐จ๐ง ๐๐ซ๐ข๐ง๐œ๐ข๐ฉ๐ฅ๐ž ๐ˆ๐ง ๐Ÿ’ ๐Œ๐ข๐ง๐ฎ๐ญ๐ž๐ฌ

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Under the revenue recognition principle, revenue is recognized when itโ€™s earned, not when cash is received.

Modified Accrual Accounting

๐–๐ก๐ฒ ๐Œ๐จ๐๐ข๐Ÿ๐ข๐ž๐ ๐€๐œ๐œ๐ซ๐ฎ๐š๐ฅ ๐€๐œ๐œ๐จ๐ฎ๐ง๐ญ๐ข๐ง๐ ? ๐ƒ๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐„๐ฑ๐ฉ๐ฅ๐š๐ง๐š๐ญ๐ข๐จ๐ง.

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Modified accrual accounting recognizes revenues only when measurable and available. And recognize expenses when they incur.

Asset Impairment

๐–๐ก๐š๐ญ ๐ˆ๐ฌ ๐€๐ง ๐€๐ฌ๐ฌ๐ž๐ญ ๐ˆ๐ฆ๐ฉ๐š๐ข๐ซ๐ฆ๐ž๐ง๐ญ? ๐€๐ง๐ ๐‡๐จ๐ฐ ๐“๐จ ๐‚๐š๐ฅ๐œ๐ฎ๐ฅ๐š๐ญ๐ž ๐ˆ๐ญ?

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When an asset losses its value or there is a reduction in its market value, this reduction in value is referred to as Asset Impairment.

Is Petty Cash an expense account or an asset account?

๐ˆ๐ฌ ๐๐ž๐ญ๐ญ๐ฒ ๐‚๐š๐ฌ๐ก ๐€๐ง ๐„๐ฑ๐ฉ๐ž๐ง๐ฌ๐ž ๐€๐œ๐œ๐จ๐ฎ๐ง๐ญ ๐Ž๐ซ ๐€๐ง ๐€๐ฌ๐ฌ๐ž๐ญ ๐€๐œ๐œ๐จ๐ฎ๐ง๐ญ?

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Is Petty Cash An Expense Account or Asset Account? Petty Cash is not an expense account, it is an asset account.

Free cash flow vs cash flow

๐…๐ซ๐ž๐ž ๐‚๐š๐ฌ๐ก ๐…๐ฅ๐จ๐ฐ ๐•๐ฌ ๐‚๐š๐ฌ๐ก ๐…๐ฅ๐จ๐ฐ- ๐‡๐จ๐ฐ ๐“๐ก๐ž๐ฒ ๐ƒ๐ข๐Ÿ๐Ÿ๐ž๐ซ?

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Free Cash flow & Cash flow. FCF is used for the valuation of an enterprise while CF is used to calculate an organizationโ€™s net cash flow