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Variable cost varies with the level of output while fixed cost remains fixed at any level of production output.

ASC 230 and IAS 7 are provided guidelines for the preparation of cash flow statement prescribed by US GAAP and IFRS, respectively.

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.

At the point where total revenues and total cost becomes equal, this phenomenon is known as Break-even analysis.

Ratio Analysis is broadly categorized into four main types; Liquidity Ratios, Activity Ratios, Profitability Ratios, & Leverage Ratios.

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

Prepare Balance Sheet in 8 Easy Steps The most crucial thing is to balance it when we are talking about how to …

You know you can prepare your income statement in just a click. In AD’s income statement template, you just have to put your figures and you will get your income statement in a minute.

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.

There are many international universities offering online accounting degrees. Such as University of Canada West, International University of Applied Sciences, and SOAS University of London.

Best Accounting Software for small businesses: FreshBooks, QuickBooks, Zoho books, Sage Business Cloud Accounting, Xero, and AccountEdge Pro.

Studying any of accounting degrees opens many doors for you to the best future. As you have a huge range of different interconnected careers.

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.

Cash Flow Statement Template

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Cash Flow Statement template by Accounting Drive
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