You know you can prepare your income statement in just a click. In ADโs income statement template, you just have to put your figures and you will get your income statement in a minute.
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The current ratio of a company identifies the ability of a company to pay its short-term financial obligations.
Preparing an income statement requires 8 steps: Calculate Net Sales, Calculate COGS, Calculate Gross Profit, Calculate Operating Expenses, Calculate Operating Income, Calculate EBIT, Calculate EBT and Calculate Net Income.
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Account receivable turnover indicates how many times you receive payment for your credit sales or convert it into cash in a given period.
Account receivable is classified as an asset because it is the amount that the company will receive on behalf of the services that it has provided.
When a company provides its services or delivers its goods before the payment is received is called accrued revenue.
๐๐ง๐๐๐ซ๐ง๐๐ ๐๐๐ฏ๐๐ง๐ฎ๐: ๐๐ก๐๐ง ๐๐ญ ๐๐๐๐จ๐ฆ๐ ๐๐๐ซ๐ง๐๐? The questions like what is unearned revenue? How to calculate it and recognize it? When is โฆ
๐๐จ๐ฐ ๐ญ๐จ ๐๐ซ๐๐ฉ๐๐ซ๐ ๐๐จ๐ง๐ญ๐ซ๐จ๐ฅ ๐๐๐๐จ๐ฎ๐ง๐ญ? ๐๐ฑ๐๐ฆ๐ฉ๐ฅ๐ ๐๐ง๐ ๐ ๐จ๐ซ๐ฆ๐๐ญ How does the control account work? And which accounts does it adjust or control โฆ
Under the revenue recognition principle, revenue is recognized when itโs earned, not when cash is received.
๐๐๐๐๐ซ๐ซ๐๐ ๐๐๐ฏ๐๐ง๐ฎ๐: ๐๐ซ๐๐๐ญ๐๐ ๐๐ฌ ๐ ๐๐ข๐๐๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐ซ ๐๐๐ฏ๐๐ง๐ฎ๐? Have you ever got payment for something before delivering services? Or have an online โฆ
๐๐จ๐ง๐ญ๐ซ๐ ๐๐ฌ๐ฌ๐๐ญ ๐๐ฌ ๐๐จ๐ง๐ญ๐ซ๐ ๐๐๐ฏ๐๐ง๐ฎ๐- ๐๐จ๐ฐ ๐๐จ ๐๐ก๐๐ฒ ๐๐ข๐๐๐๐ซ? Contra Asset vs Contra Revenueโฆ. If you are wondering what is the difference โฆ
Modified accrual accounting recognizes revenues only when measurable and available. And recognize expenses when they incur.
