Accrual Accounting

Reversing entries in accounting records at the beginning of an accounting period to cancel out or reverse the effects of adjusting entries of preceding accounting period.

A business transaction (selling or buying a thing) that does not involve cash is called non-cash transaction.

๐”๐ง๐ž๐š๐ซ๐ง๐ž๐ ๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž: ๐–๐ก๐ž๐ง ๐ˆ๐ญ ๐๐ž๐œ๐จ๐ฆ๐ž ๐„๐š๐ซ๐ง๐ž๐? The questions like what is unearned revenue? How to calculate it and recognize it? When is โ€ฆ

How To Prepare A Control Account? Example and Format How does the control account work? And which accounts does it adjust or โ€ฆ

๐ƒ๐ž๐Ÿ๐ž๐ซ๐ซ๐ž๐ ๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž: ๐“๐ซ๐ž๐š๐ญ๐ž๐ ๐€๐ฌ ๐€ ๐‹๐ข๐š๐›๐ข๐ฅ๐ข๐ญ๐ฒ ๐Ž๐ซ ๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž? Have you ever got payment for something before delivering services? Or have an online โ€ฆ

๐‚๐จ๐ง๐ญ๐ซ๐š ๐€๐ฌ๐ฌ๐ž๐ญ ๐•๐ฌ ๐‚๐จ๐ง๐ญ๐ซ๐š ๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž- ๐‡๐จ๐ฐ ๐ƒ๐จ ๐“๐ก๐ž๐ฒ ๐ƒ๐ข๐Ÿ๐Ÿ๐ž๐ซ? Contra Asset vs Contra Revenueโ€ฆ. If you are wondering what is the difference โ€ฆ

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