Author: Anfisa Dmitrieva

This affected the balance sheet tally of many companies due to the nature of such healthcare cost benefits. Through studies conducted earlier, SFAS 106 has reduced the basic earnings of at least 74 companies by 92% in average. According to SFAS 158, …

May 21, 2019. Posting in accounting is when the balances in subledgers and the general journal are shifted into the general ledger. Posting only transfers the total balance in a subledger into the general ledger, not the individual transactions in th…

The balance of this account prior to closing appears on the statement of owner’s equity. The owner’s drawing account does not appear on the post-closing trial balance. A term often used for closing entries is “reconciling” the company’s accounts. Acc…

The $2,400 transaction was recorded in the accounting records on December 1, but the amount represents six months of coverage and expense. By December 31, one month of the insurance coverage and cost have been used up or expired….

But if your business has grown to that level, you may want to consider another POS option on our list. A POS Systemis the hardware and software used to record the financial transactions of a retail store….

Pop music often borrows elements from other styles such as urban, dance, rock, Latin, and country; nevertheless, there are many key elements that define pop music. Identifying factors usually include short to medium-length songs written in a basic fo…

The Probationary officer salary has got a swift hike after the 10th bipartite settlement, acknowledged by the banking sector. The resultant salary has been as high as whopping Rs. 8 lakh per year for SBI PO. Those of other public sector banks have jo…

In general, the more cost pools used, the more accurate the allocation process. A single overhead rate for assigning all of the manufacturing production and service department costs to products….

On a business’s balance sheet, capital assets are represented by the property, plant, and equipment (PP&E) figure. Property, plant, and equipment (PP&E) are long-term assets vital to business operations and not easily converted into cash. Pur…

Straight line basis is a method of calculating depreciation and amortization. Also known as straight line depreciation, it is the simplest way to work out the loss of value of an asset over time. Straight line basis is calculated by dividing the diff…