Accounting articles

Wave Accounting Review 2021

If you're a very small business or freelancer in North America, Wave might be the ideal accounting software to organize your business and simplify tax time. However, if you have higher revenue, more complex requirements or plan to scale, Xero is like... Read more

Guiding Cost Principles

Now, the market value of machinery is $20,000, but as per books, after applying depreciation, the value is showing as $ 30,000. The difference between the two values is that the organisation follows the cost principle for its assets and has not consi... Read more

Days Sales Of Inventory Dsi

Based in Atlanta, Georgia, William Adkins has been writing professionally since 2008. He writes about small business, finance and economics issues for publishers like Chron Small Business and Bizfluent.com. Adkins holds master's degrees in history of... Read more

What Is The Direct Write Off Method?

Unlike the allowance method, the direct write off method avoids contra asset account complications. Companies decide which accounts are uncollectible depending on various criteria.Instead, the allowance method of bad debts treatment is preferred. Whe... Read more

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