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Adjusting Journal Entry Definition: Purpose, Types, and Example

Estimates are adjusting entries that record non-cash items, such as depreciation expense, allowance for doubtful accounts, or the inventory obsolescence reserve. That’s why most companies use cloud accounting https://business-accounting.net/10-ways-to-win-new-clients-for-your-accountancy/ software to streamline their adjusting entries and other...

Bond sinking fund definition

In some US states, Michigan for example, school districts may ask the voters to approve a taxation for the purpose of establishing a sinking fund. The State Treasury Department has strict guidelines for expenditure of fund...

What is the Journal Entry for Discount Received?

Since discounts are claimed and granted after invoicing, they must also be recorded in the accounts, unlike reductions, for example. They must be traceable in a proper balance sheet accounting. In this instance the accounts receivable...


Note that speed doesn’t require one leader to make all the calls top-down. The art of good decision making requires that you gather input and perspective from your team, and then push toward a final decision...

What is a classified balance sheet?

Each project’s costs are accumulated separately and will be transferred to the appropriate property, plant, or equipment account when the asset is placed into service. At that point, the depreciation of the constructed asset will begin....
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We went down the lane, by the body of the man in black, sodden now from the overnight hail, and broke into the woods..
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