The former represent the factual presentation of economic issues related to existing litigation. In this capacity, the forensic accounting Sustained by parties involved in the legal disputes and can assist in resolution dispute, even before they reac... Read more
If an outstanding check is cashed after you asked a bank to stop the payment, you will be responsible for proving that you took the necessary steps to complete the payment. Once such checks are finally deposited, they can cause accounting problems.... Read more
In order to understand and use this formula, you will need specific information, including the discount rate offered to you by a purchasing company. Companies that purchase annuities use the present value formula — along with other variables — to cal... Read more
You've probably heard the term "liquidity" thrown around when it comes to your portfolio and assets. As such, liquid assets are those that can easily be sold or traded. The current ratio, also known as the working capital ratio, is calculated by divi... Read more
Accordingly, regulators around the world attempt to seek conformity among national GAAPs and the IFRS. Perhaps most important, however, is the fact that the double-entry system of accounting is mandated by law. Double-entry bookkeeping is required un... Read more
They’d have a ledger for every type of transaction, like a one for cash, accounts receivable, expenses, inventory, etc. Throughout the month, they would write down the debits and credits affecting certain accounts in their individual ledgers.In order... Read more
If there are inaccuracies in a business’s financial records, the purpose of a trial balance is to reveal these inaccuracies, and the result should be an adjusted trial balance that’s free of any discrepancies. The purpose of a trial balance in accoun... Read more
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
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
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
