Accounting distributions in a purchasing environment refer to monetary amounts issued to specific general ledger (GL) accounts – allowing for better categorization of documented expenditures in accounting records. Example – Unreal corp. decides to buy 50,000 x 9W led bulbs from GE for a unit price of 10 each to be delivered within 60 …
The losses on the part of the exposures up to 55 % of the property value do not exceed 0,3 % of the total amount of credit obligations outstanding in that year. The losses on the part of the exposures up to 100 % of the property value do not exceed 0,5 % of the total amount, across all these exposures, of credit obligations outstanding in …
Since self-employment taxes are applied to net earnings rather than your gross income, deductible business expenses will reduce your tax liability. Be sure to track and take advantage of all tax deductions . Remember, anytime when you’re not sure whether a cost is a legitimate business expense, ask yourself, “Is this an ordinary …
A recent global study by Bain & Co listed balanced scorecard fifth on its top ten most widely used management tools around the world. BSC has also been selected by the editors of Harvard Business Review as one of the most influential business ideas of the past 75 years. Probably because traditional measurement systems have sprung from …
Most accounts payable items need to be paid within 30 days, although in some cases it may be as little as 10 days, depending on the accounting terms offered by the vendor or supplier. Considering the name, it’s quite obvious that any liability that is not near-term falls under non-current liabilities, expected to be paid […]
The term trial balance refers to the total of all the general ledger balances. It is a statement prepared at a certain period to check the arithmetic accuracy of the accounts (i.e., whether they are mathematically correct and balanced). Each account should include an account number, description of the account, and its final debit/credit …