Author: Anfisa Dmitrieva

The name Australia has been applied to two continents. Originally, it was applied to the south polar continent, or sixth continent, now known as Antarctica….

If you are wondering what the cash value of your life insurance policy is, or how much money you will get if you cash out your policy, you need to find out the cash surrender value. If you have a 25-year term life insurance policy, the policy most li…

The relationships that we have in our lives help to form who we are as a person; who we surround ourselves with speaks mountains about us. Our friends represent who we wish to become, who we identify with and who we care about….

This is because their cost is so low that it is not worth expending the effort to track them as an asset for a prolonged period of time. If the decision is made to track supplies as an asset, then they are usually classified as a current asset. To be…

A closing entry is a journal entry made at the end of accounting periodsthat involves shifting data from temporary accounts on the income statement to permanent accounts on the balance sheet. Temporary accounts include revenue, expenses, and dividend…

In the chart of accounts, the Cash account is a current asset account. Office Supplies is an operating expense account, and Accounts Payable is a liability account. Asset accounts, for example, can be divided into cash, supplies, equipment, deferred …

Supplier Relationship Management is the process of planning and managing all relationship with vendors that supply any products or services to a business. This may involve raw material suppliers, utility suppliers or cleaning services suppliers….

Selecting the right suppliers for your business needs is vital to ensure that you are able to deliver your products and services on time, at the right price, and in compliance with your quality standards. By implementing specific supplier’s selection…

The invoice is created by a supplier, and it is a statement of services or products produced and delivered to a customer, including the amount owed. An invoice may be created before or after the product or service is received….

For large scale businesses where many transactions are conducted, it may not be convenient to enter all transactions in the general ledger due to the high volume. In such cases, individual transactions are recorded in ‘subsidiary ledgers’, and the to…