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Unearned revenue: When it become earned?

The questions like what is unearned revenue? How to calculate it and recognize it? When is it transferred from the […]

How to prepare Control Account

What is control account and how does the control account work? And which accounts does it adjust or control particularly? […]

𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐑𝐞𝐜𝐨𝐠𝐧𝐢𝐭𝐢𝐨𝐧 𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐥𝐞
𝐃𝐞𝐟𝐞𝐫𝐫𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞: 𝐓𝐫𝐞𝐚𝐭𝐞𝐝 𝐀𝐬 𝐀 𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐎𝐫 𝐑𝐞𝐯𝐞𝐧𝐮𝐞?
Contra Asset And Contra Revenue
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

Is Petty Cash An Expense Account or Asset Account? Petty Cash is not an expense account, it is an asset account.

Free cash flow vs cash flow

Free Cash flow & Cash flow. FCF is used for the valuation of an enterprise while CF is used to calculate an organization’s net cash flow

𝐂𝐚𝐬𝐡 𝐁𝐨𝐨𝐤 𝐕𝐬 𝐂𝐚𝐬𝐡 𝐀𝐜𝐜𝐨𝐮𝐧𝐭- 𝐇𝐨𝐰 𝐓𝐡𝐞𝐲 𝐃𝐢𝐟𝐟𝐞𝐫?

Cash Book Vs Cash Account: Cash book is a separate book, while cash account is an account within ledger to record cash transaction.

Types of working capital
cash basis vs accrual basis accounting

Cash basis vs accrual basis accounting? Ahh! Confusing- what are they? Why and how Cash basis accounting is different from accrual […]

Accrual Accounting

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
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