๐๐ง๐๐๐ซ๐ง๐๐ ๐๐๐ฏ๐๐ง๐ฎ๐: ๐๐ก๐๐ง ๐๐ญ ๐๐๐๐จ๐ฆ๐ ๐๐๐ซ๐ง๐๐? The questions like what is unearned revenue? How to calculate it and recognize it? When is โฆ
Financial Accounting
How To Prepare A Control Account? Example and Format What is control account and how does the control account work? And which 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.
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.
A contra account reduces the balance of its associated account and also recognizes the reason for reducing it.
A suspense account is used for an unidentified transaction. As soon as that it becomes identified, record them in their respective accounts.
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