Allowance for Doubtful Accounts – Meaning, Accounting, Methods And More
Most businesses sell their goods and services on credit. However, not all customers end up paying the money they owe to a company. Though… Read Article
Expenses
Income Statement
There are four financial statements that are prepared during an accounting year. In this article, we will focus our attention on the Income Statement.… Read Article
Cost of Goods Sold (COGS) – All You Need To Know
Cost of Goods Sold or COGS refers to the cost of producing goods and services. Also known as the cost of services or cost… Read Article
Bad Debts
Bad Debts MeaningBad debt is a receivable that is now irrecoverable from that person who was supposed to pay the same. The reason for… Read Article
Depreciation
Depreciation is a very important and real operating expense. Although it is a non-cash expense and does not require any current cash outflow, nonetheless… Read Article
Capitalizing Versus Expensing Costs
Capitalizing versus expensing different costs during the accounting of long-lived assets will have an effect on the company’s profitability, financial ratios, and trends. Both… Read Article
What is Expense? – Definition and Meaning
Expenses can be defined as “Any cost that a company bears in an attempt to maximize its revenues, and thereby its profits.” It is… Read Article