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What is Revenue Recognition?
Revenue recognition is the process of allocating revenue to a specific time frame based on…
Understanding Accumulated Depreciation
Like many accounting concepts, accumulated depreciation is a must-know to run your back office successfully.…
What is an Adjusted Trial Balance?
An adjusted trial balance is the result of verifying the accuracy of all financial data…
What Does Cash Flow from Financing Activities Mean?
Cash flow from financing activities is a section of the cash flow statement, which gives…
Quick Ratio vs. Current Ratio: What’s The Difference?
When running a business, you need to be able to look at your finances at…
How to Calculate Cost of Goods Manufactured
Understanding every aspect of your company is vital for any aspiring business owner. This means…
What Is the Expense Recognition Principle?
The expense recognition principle represents the primary difference between accrual and cash accounting. As an…
What is a Pro Forma Income Statement?
A pro forma income statement is a document that shows a business’s adjusted income if…
How to Find Retained Earnings
Retained earnings refers to business earnings that are kept, not disbursed. More specifically, retained earnings…
