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account receivable turnover ratio formula
𝐈𝐬 𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐑𝐞𝐜𝐞𝐢𝐯𝐚𝐛𝐥𝐞 𝐚𝐧 𝐀𝐬𝐬𝐞𝐭 𝐎𝐫 𝐀 𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲?

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.

𝗔𝗰𝗰𝗿𝘂𝗲𝗱 𝗥𝗲𝘃𝗲𝗻𝘂𝗲: is it an actual revenue?

When a company provides its services or delivers its goods before the payment is received is called accrued revenue.

Unearned revenue: When it become earned?

𝐔𝐧𝐞𝐚𝐫𝐧𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞: 𝐖𝐡𝐞𝐧 𝐈𝐭 𝐁𝐞𝐜𝐨𝐦𝐞 𝐄𝐚𝐫𝐧𝐞𝐝? Facebook Linkedin Pinterest Twitter The questions like what is unearned revenue? How to calculate it and …

How to prepare Control Account

𝐇𝐨𝐰 𝐭𝐨 𝐏𝐫𝐞𝐩𝐚𝐫𝐞 𝐂𝐨𝐧𝐭𝐫𝐨𝐥 𝐀𝐜𝐜𝐨𝐮𝐧𝐭? 𝐄𝐱𝐚𝐦𝐩𝐥𝐞 𝐚𝐧𝐝 𝐅𝐨𝐫𝐦𝐚𝐭 Facebook Linkedin Pinterest Twitter How does the control account work? And which accounts does …

𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐑𝐞𝐜𝐨𝐠𝐧𝐢𝐭𝐢𝐨𝐧 𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐥𝐞
𝐃𝐞𝐟𝐞𝐫𝐫𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞: 𝐓𝐫𝐞𝐚𝐭𝐞𝐝 𝐀𝐬 𝐀 𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐎𝐫 𝐑𝐞𝐯𝐞𝐧𝐮𝐞?

𝐃𝐞𝐟𝐞𝐫𝐫𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞: 𝐓𝐫𝐞𝐚𝐭𝐞𝐝 𝐀𝐬 𝐀 𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐎𝐫 𝐑𝐞𝐯𝐞𝐧𝐮𝐞? Facebook Linkedin Pinterest Twitter Have you ever got payment for something before delivering services? …

Contra Asset And Contra Revenue

𝐂𝐨𝐧𝐭𝐫𝐚 𝐀𝐬𝐬𝐞𝐭 𝐕𝐬 𝐂𝐨𝐧𝐭𝐫𝐚 𝐑𝐞𝐯𝐞𝐧𝐮𝐞- 𝐇𝐨𝐰 𝐃𝐨 𝐓𝐡𝐞𝐲 𝐃𝐢𝐟𝐟𝐞𝐫? Facebook Linkedin Pinterest Twitter Contra Asset vs Contra Revenue…. If you are wondering …

𝐌𝐨𝐝𝐢𝐟𝐢𝐞𝐝 𝐀𝐜𝐜𝐫𝐮𝐚𝐥 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠
𝐖𝐡𝐚𝐭 𝐈𝐬 𝐀𝐬𝐬𝐞𝐭 𝐈𝐦𝐩𝐚𝐢𝐫𝐦𝐞𝐧𝐭 𝐀𝐧𝐝 𝐇𝐨𝐰 𝐓𝐨 𝐂𝐚𝐥𝐜𝐮𝐥𝐚𝐭𝐞 𝐈𝐭

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.

Contra Account

A contra account reduces the balance of its associated account and also recognizes the reason for reducing it.

𝐖𝐡𝐞𝐧 𝐓𝐨 𝐔𝐬𝐞 𝐒𝐮𝐬𝐩𝐞𝐧𝐬𝐞 𝐀𝐜𝐜𝐨𝐮𝐧𝐭

A suspense account is used for an unidentified transaction. As soon as that it becomes identified, record them in their respective accounts.

𝐈𝐬 𝐏𝐞𝐭𝐭𝐲 𝐂𝐚𝐬𝐡 𝐀𝐧 𝐄𝐱𝐩𝐞𝐧𝐬𝐞 𝐎𝐫 𝐀𝐬𝐬𝐞𝐭 𝐀𝐜𝐜𝐨𝐮𝐧𝐭

Cash Flow Statement Template

Get Free Access to AD's easy to use excel template of cash flow statement

Cash Flow Statement template by Accounting Drive