Accounting articles

What Is Cost Principle?

However, care should be exercised to avoid duplication of the allowance as an element of both estimated product cost and risk. Subject to the requirements of paragraphs through of this section, the costs of family movements and of personnel movements... Read more

Standard Chart Of Accounts

Some examples include utility expenses and professional services, like legal services, insurance, and medical costs. An expense that is one-off is typically labeled as an other expense. Examples of accounts under expenses include wages expense, suppl... Read more

Online Payroll Services For Small Businesses

If you want to watch the process in action, check out our quickbooks payroll setup video. QuickBooks Time’s geofencing feature nudges employees to clock in and out when they enter and leave an assigned job site. 24/7 phone and messaging support plus... Read more

What Is Suspense Account In Insurance?

Any amount that is posted to the suspense account should be there on a temporary basis only, as this amount needs to be investigated and posted to the correct account. When the business is unsure about the account in which they need to park a particu... Read more

What Is An Outstanding Check?

She is a graduate of Bryn Mawr College (A.B., history) and has an MFA in creative nonfiction from Bennington College. As an alternative to viewing the data in this subtask, you can print the transactions detail data from the Bank Reconciliation Detai... Read more

Types Of Accounts In Accounting

An increase to the bank's asset account is a debit. Hence, using a debit card or credit card causes a debit to the cardholder's account in either situation when viewed from the bank's perspective. So, what exactly does this mean in relation to your f... Read more

Use The Sales Tax Deduction Calculator

When filing federal income tax, taxpayers need to choose to either take the standard deduction or itemize deductions. This decision will be different for everyone, but most Americans choose the standard deduction.If you are given the tax rate, you ca... Read more