Bookkeeping

Users with this permission will be able to view the assessment status and assessment details but will not be able to assign assessments. Users with this permission can only view the assessment status; they cannot assign assessments or view assessment details. Allows user to view the assessment integration check status on the Applications tab of…

The common stock and preferred stock accounts are calculated by multiplying the par value by the number of shares issued. That’s because a company has to pay for all the things it owns (assets) by either borrowing money (taking on liabilities) or taking it from investors (issuing shareholder equity). IAS 37 explains that a contingent…

While AI can automate various marketing tasks and generate data-driven insights, it may struggle to replicate the unique human elements of marketing, such as emotional connection, intuition, and creative thinking. AI algorithms may rely solely on data and predefined patterns, potentially missing out on innovative or out-of-the-box marketing approaches that require human creativity and intuition.…

From this information, the company will begin constructing each of the statements, beginning with the income statement. The statement of retained earnings will include beginning retained earnings, any net income (loss) (found on the income statement), and dividends. The balance sheet is going to include assets, contra assets, liabilities, and stockholder equity accounts, including ending…

Some candidates may qualify for scholarships or financial aid, which will be credited against the Program Fee once eligibility is determined. A business’s expenses can include any costs related to running the company such as rent, utilities, office supplies, property, equipment, and payroll. The accrual method does provide a more accurate picture of the company’s…

The payback period is the amount of time (usually measured in years) it takes to recover an initial investment outlay, as measured in after-tax cash flows. It is an important calculation used in capital budgeting to help evaluate capital investments. For example, if a payback period is stated as 2.5 years, it means it will…

Because owner withdrawals imply a reduction of the owner’s equity in a business, the debit balance of the drawing account is in contrast to the anticipated credit amount of an equity account of an owner. A drawing account is a record in accounting kept to monitor cash and other such assets taken out of a…

Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses…

Because owner withdrawals imply a reduction of the owner’s equity in a business, the debit balance of the drawing account is in contrast to the anticipated credit amount of an equity account of an owner. A drawing account is a record in accounting kept to monitor cash and other such assets taken out of a…

Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses…