Bookkeeping

nikolovDecember 26, 2023

What Deferred Revenue Is in Accounting, and Why It’s a Liability

For example, most lawyers are required to deposit unearned fees into an arms-length IOLTA trust account. The penalties for removing…
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nikolovNovember 14, 2023

The Role of Normal Account Balances in Accurate Bookkeeping

Unlock the potential of every deal with our expert insights into ‘Business Transactions’. This article unveils 5 transformative strategies that…
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nikolovOctober 5, 2022

Average costing method explanation and examples

The weighted average cost per unit is based on the cost of the beginning inventory and the purchases up to…
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nikolovAugust 2, 2022

Balance Sheets 101: Understanding Assets, Liabilities and Equity

The income and retained earnings of the accounting equation is also an essential component in computing, understanding, and analyzing a…
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nikolovOctober 1, 2020

Introduction to the Basic Accounting Equation Financial Accounting

An accounting cycle is an eight-step system accountants use to track transactions during a particular period. Some common examples of…
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