Bookkeeping Archives

Bookkeeping

1 1: A Review of the Essential Role of Transaction Analysis Business LibreTexts

Andrew Stratton - April 23, 20240

Steps 1 through 4 analyze the transaction for the journal entry, and step 5 reflects the journalizing of the transaction and the posting from...

Bookkeeping

Allowance for Doubtful Accounts and Bad Debt Expenses Cornell University Division of Financial Services

Sandy Shaw - February 3, 20240

To record a write-off using the allowance method, you debit the allowance for doubtful accounts and credit accounts receivable. This entry removes the uncollectible...

Bookkeeping

How to create a financial plan for your nonprofit

Sandy Shaw - December 14, 20230

It ensured both best and worst-case scenarios had a fully thought-out plan which can be refined as things change. Accurate projections depend on a...

Bookkeeping

Fundamentals for Nonprofits Nonprofit Finance Fund

Andrew Stratton - December 12, 20230

Effective nonprofit management is crucial for the success and sustainability of any organization dedicated to making a positive impact. With the nonprofit sector continuing...

Bookkeeping

Fundamentals for Nonprofits Nonprofit Finance Fund

Andrew Stratton - December 12, 20230

Effective nonprofit management is crucial for the success and sustainability of any organization dedicated to making a positive impact. With the nonprofit sector continuing...

Bookkeeping

Accounting for Royalties and Licensing Fees: Revenue Recognition and Reporting

Richard Brody - September 25, 20230

Contracts that clearly define payment terms, audit rights, and dispute resolution procedures minimize the risk of misunderstandings. As such, financial professionals advise clients on...

Bookkeeping

Gross Income vs Net Income: Key Differences Explained

Richard Brody - June 24, 20210

I’ll explain both of these terms in detail, so you can understand what each mean. We’ll also look at formulas and walk through a...

Bookkeeping

Red wine, Goodwill jackets, WAGs: Meet Australia’s friendliest golf club

Andrew Stratton - June 23, 20210

The fair value of the assets was $78.34 billion and the fair value of the liabilities was $45.56 billion. Negative goodwill is usually seen...

Bookkeeping

Personal Goodwill and the Net Investment Income Tax

Sandy Shaw - June 19, 20210

Somehow, the club has managed to track down four used coats, one for each member of our visiting group, to attend the dinner in...

Bookkeeping

Managing And Calculating Cash Flow To Creditors

Andrew Stratton - June 10, 20210

Consider it alongside other financial metrics like profitability, debt-to-equity ratio, and cash flow from operations. A comprehensive analysis paints a clearer picture of a...