Calculate Bad Debt Expense Overview Bad debt expense is the loss that incurs from the uncollectible accounts, in which the ...

Audit Goodwill Overview In an audit, goodwill refers to the intangible non-current asset that arises in the business combination when ...

Move from Cash Basis to Accrual Basis Most of the small use cash basic to record their business transactions as ...

Important of Purchase Order Purchase Order is the commercial documents prepared by the buyer and send to the supplier as ...

Three-Way Matching Three-way matching is the comparison of purchase order, supplier invoice and goods received note (GRN). All these three ...

Substantive Audit Procedures Overview Substantive audit procedures are the audit processes or methods that auditors perform to detect material misstatement ...

Adjusted Trial balance Definition Adjusted trial balance is a list that shows all general ledger accounts and their balances after ...

Risk of Material Misstatement for Investments Overview Risk of material misstatement is a combination of inherent risk and control risk ...

Periodic vs Perpetual Inventory System Periodic inventory is the system in which the company does not track individual item movement ...

Accounting for Goods in Transit Goods in transit are the products or materials which already leaves the seller’s warehouse but ...

Accounting for Equity Reserve Equity reserve is the part of the equity section of the balance sheet which excludes share ...

Audit Retained Earnings and Dividends Overview As auditors, we usually examine all relevant transactions in the audit of retained earnings ...