Financial Accounting

Unearned Revenue Journal Entry Overview Unearned revenue is the money that the company receives in advance for the goods or ...

Accounting for Consignment Inventory Consignment inventory is the way that consignor allows the consignee to sell the inventory without paying ...

How to Account for Land Improvements? Land improvement is the additional spending which the company paid to increase the land’s ...

Permanent Current Assets Permanent Current Assets is the minimum level of current assets which the company needs to operate. The ...

Functional Currency Functional Currency is the main currency used by the company, it is the currency that represents the company’s ...

Accounting for Bad Debt Recovery Overview Sometimes, the company may receive the cash payment from the customer’s account that has ...

Write Off Accounts Receivable Overview The company may use many methods, such as sending letters, making calls, and taking legal ...

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

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 ...