Accounting for Beginners #14 / Journal Entry with Cash / Expense
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Year end Accounting entries for Accrued Income and Income received in Advance - Accounts Class XI
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Unearned revenue journal entry: A business invoices in advance for annual fees and as the service is yet to be provided, records this as unearned revenue.
What is an 'Adjusting Journal Entry' An adjusting journal entry is an entry in financial reporting that occurs at the end of a reporting period to record any unrecognized income or expenses for ...
The major objectives of accounting for inventories are the matching of appropriate costs against revenues in order to arrive at the proper determination of periodic income, and the accurate representation of inventories on hand as assets of the reporting entity as of the date of the statement of financial position.
On the “Accounting Changes” topic I have revealed the Change in accounting prinsiples and Changes in accounting estimates and reporting entity. On this post you learn about journal entry for correction of errors and counterbalancing with a comprehensive case examples. Some erroneous entries may not need correction journal entries for they have been counterbalanced, but in many case […]
Double Entry Bookkeeping provides a wide variety of tutorials, examples, references, and no-nonsense advice on bookkeeping and accounting. It aims to answer all those questions you’ve always wanted to ask . . . and some you didn’t know you needed to.