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June 7, 2023
The accounting cycle is a systematic process businesses follow in recording, analyzing, and reporting their financial transactions. It encompasses a series of steps that enable accurate […]
June 6, 2023
In finance and business, profit is a vital indicator of a company’s success. When evaluating a company’s financial health, gross profit vs. net profit are two […]
June 2, 2023
What is unearned revenue? Unearned revenue, also known as advance payments, refers to a company receiving payment from a customer for goods or services that still […]
June 1, 2023
A balance sheet is a financial statement that provides a snapshot of a company’s financial position at a specific time. It presents a summary of what […]
May 31, 2023
What is Bonus Depreciation? As a business owner, you always seek ways to save money and maximize profits. One way to do that is by taking […]
May 31, 2023
What Is Accumulated Depreciation? If you own a business, keeping track of your assets is crucial to your financial well-being. One important aspect of asset management […]
April 28, 2023
What is backup withholding tax? Backup withholding is tax withholding that requires a payer to withhold a certain percentage of payment to a recipient and remit […]
April 27, 2023
What are accrued expenses? An accrued expense is an accounting term that refers to an expense that a company has incurred but has yet to pay […]