Third, the opposite holds true for liability, revenue, and equity accounts. The mnemonic for remembering this relationship is G.I.R.L.S. Accounts which cause an increase are Gains, Income, Revenues, Liabilities, and Stockholders' equity.... Read more
So, the ending balance of this period will be the beginning balance for next period. Finally, dividends are closed directly to retained earnings.... Read more
Bookkeeping offers much lower barriers to entry, and the competition you face in the job search is less fierce. There are critical differences in job growth and salaries between the two. Growth for accountants and auditors is expected to continue for... Read more
I was fortunate to get a job offer from a mid-size CPA firm in New England while I was a senior in college, and I spent many years working there as an auditor. Over 40 of the state boards now require applicants for CPA status to complete a special ex... Read more
If you are going to create the payment in the next batch of automatic payments, you enter the prepayment voucher and then follow the regular procedures for processing automatic payments. To make the payment using manual payments, you create the prepa... Read more
Only "accredited" investors, those with a net worth of at least $1 million, can take part in private equity or venture capital partnerships. Such endeavors might require the use of form 4, depending on their scale. For investors who have don't meet t... Read more
Propensity Company had a noncash investing and financing activity, involving the purchase of land in exchange for a $20,000 note payable . The operating activities on the CFS include any sources and uses of cash from business activities. In other wor... Read more
The most simple point about cost analysis application is that it is used when price analysis isn't possible. This is usually because there aren't alternative solutions for comparison or no related proposals were submitted for a job. New types of rese... Read more
Supplies Expense would increase for the $100 of supplies used during January. For the sake of balancing the books, you record that money coming out of revenue.... Read more
Investors can find a company's financial information in quarterly and annual reports on its investor relations page. However, it is often easier to get the information by going to a ticker, such as AAPL, and scrolling down to the fundamental data sec... Read more
