Author: Anfisa Dmitrieva

The same goes for writing IN ALL CAPS or using exclamation points, especially if the memorandum is conveying news that may upset people. Business memorandum or memoranda — also called memo or memos — are specially formatted written communications wit…

These are the costs a company pays for holding inventory in stock before it is sold to customers. For example, a company that sells frozen foods needs to pay for refrigerated storage facilities, utility costs, taxes, employee expenses, and insurance….

An extreme example would be if Apple decided to pay off $70 billion of its term debt, which totals approximately $93 billion listed on the balance sheet. The company would record the cash outlay of $70 billion dollars within the financing activities …

Like the Currency format, the Accounting format is used for monetary values. But, this format aligns the currency symbols and decimal points of numbers in a column. In addition, the Accounting format displays zeros as dashes and negative numbers in p…

Consequently, a lawyer may not be able to form a conclusion with respect to such matters. In such circumstances, the auditor ordinarily will conclude that the financial statements are affected by an uncertainty concerning the outcome of a future even…

Examples of accounts payable include accounting services, legal services, supplies, and utilities. Accounts payable are usually reported in a business’ balance sheet under short-term liabilities….

One of the big selling points for a fixed annuity is that it is actually an insurance contract, and as such, it is based upon guarantees made by the insurance company. A big part of an annuity is a guarantee that you will continue to receive an incom…

Certain accounting positions require on-the-job travel time while others require little or no travel. External auditors often travel frequently due to the number of clients they serve and the various geographical locations of those clients. Internal …

If the Income Summary has a debit balance, the amount is the company’s net loss. The Income Summary will be closed with a credit for that amount and a debit to Retained Earnings or the owner’s capital account….

When your account reaches the low balance threshold, you may see a yellow light while driving through the toll lanes. That night, we will process a payment equal to your replenishment amount….