Is My Car An Asset Or A Liability?Definition of Balance Sheet AccountsYour balance sheets show the position of the company on a given day, including its total assets, liabilities and equity, which equals its net worth. Lenders commonly use financial... Read more
Bank ReconciliationThe difference between book and bank balances…If you're unclear about a business or personal bank transaction, contact your bank. If there is no undocumented reconciling item, print the bank reconciliation and store it. A check pay... Read more
Inventory to Sales Ratio– Many retail businesses have ups and downs in sales throughout the year. Analyzing sales during specific periods will help you readily identify these ebbs and flows. Once identified, calculate the inventory turnover ratios fo... Read more
Is Inventory an Expense? NO! Here is Why.Not only do service companies have no goods to sell, but purely service companies also do not have inventories. If COGS is not listed on the income statement, no deduction can be applied for those costs. One l... Read more
average payment periodThe accounts turnover ratio is calculated by dividing total net sales by the average accounts receivable balance. As a reminder, this ratio helps you look at the effectiveness of your credit, as your net credit sales value does... Read more
How Many Shares To Authorize?Recommended ArticlesTypically a startup company has 10,000,000 authorized shares of Common Stock, but as the company grows, it may increase the total number of shares as it issues shares to investors and employees. The nu... Read more
How Should I Analyze a Company's Financial Statements?AccountingThe primary purpose for financial audits is to give regulators, investors, directors, and managers reasonable assurances that financial statements are accurate and complete. It's importa... Read more
Audit Report ExamplesA disclaimer of opinion is a statement made by an auditor that no opinion is being given regarding the financial statements of a client. For example, the auditor may not have been allowed or been able to complete all planned audi... Read more
What Is an Assignment of Contract?In the United States, assignment of a patent is governed by statute, 35 U.S.C.§ 261. Patent rights are assignable by an "instrument in writing." Title in a patent can also be transferred as a result of other financia... Read more
assign verbDerived forms of assignBy assigning a trademark, the right of future use of the trademark will be transferred to the assignee. Trademark assigning or assigning a trade name is done by completing and signing an assignment form. It should in... Read more
