Accrued Interest DefinitionAccrued Expense vs. Accrued Interest: What's the Difference?The use of accruals allows a business to look beyond simple cash flow. In a cash-based accounting approach, a company records only the transactions where cash chan... Read more
Accrued cost — AccountingToolsAccrued expenses vs. accounts payableIs accrued expense an asset or liability?Accrual accounting is a method of tracking such accumulated payments, either as accrued expenses or accounts payable. Accrued expenses are tho... Read more
How to Accrue an Expense: 6 StepsFrom a tax standpoint, it is sometimes advantageous for a new business to use the cash method of accounting. That way, recording income can be put off until the next tax year, while expenses are counted right away.Acc... Read more
How Much is Average PTO in the U.S.?For an employee working 25 hours per week, two weeks of paid time off would require only 50 PTO hours. For most jobs, paid vacation days are standard across jobs and employee longevity.As the years of their employm... Read more
Accrual Accounting vs. Cash Basis Accounting: What's the Difference?Imagine you perform the following transactions in a month of business:If a business records its transactions under the cash basis of accounting, then it does not use accruals. Instea... Read more
GAAP: Generally Accepted Accounting PrinciplesWhen a company pays a vendor, it will reduce Accounts Payable with a debit amount. As a result, the normal credit balance in Accounts Payable is the amount of vendor invoices that have been recorded but h... Read more
Accounting System Explained In Simple WordsWhen John (company contact) told me a position for an experienced tax accountant had opened up I couldn't pass up the opportunity. I believe I can help you solve many of tax issues you're currently facing an... Read more
Accounting TheoryWhen and Why Were GAAP First Established?The APB listed 31 separate opinions during its existence from 1962 to 1973. The board was created by the American Institute of Certified Public Accountants (AICPA), and was replaced by Financi... Read more
Basic Accounting: The Accounting Cycle ExplainedHow the Accounting Cycle WorksWhat is the accounting cycle?The accounting cycle is the holistic process of recording and processing all financial transactions of a company, from when the transaction occ... Read more
CEO SalaryThe median early career pay (0-5 years) was $96,000 (figures rounded to the nearest thousand) and mid-career pay (10 or more years) $149,000. The gender distribution in PayScale’s sample was 71 percent men and 29 percent women. A CEO typica... Read more
