September 20, 2021
Charles Lutwidge
Realization Principle
When you sell goods or maybe your business provides services instead, you get paid money which is considered to be your revenue. It is one of the most important aspects of a company’s operations and reporting. In this regard, of...
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September 17, 2021
Charles Lutwidge
Consolidated Financial Statements
Due to the impact of many objective factors (growth of business complexity, the need to diversify risks, the possibility of tax optimization, etc.), many entrepreneurs have a real need for the simultaneous development of many areas of activity, formation of...
August 29, 2021
Charles Lutwidge
What Is Prepaid Rent?
Definition Prepaid expenses are payments for goods or services rendered after the date of payment. Typically, such services are consumed in the near future in the normal course of business, but you might also come across prepaid expenses that will...
August 27, 2021
Charles Lutwidge
A Simple Explanation of Sales Revenue with Examples
Overview Revenue is the simplest metric for assessing the health of a company. Each leader analyzes its size, calculates other absolute and relative performance indicators on the basis of this value, and forms a development strategy. Revenue is the main...
August 02, 2021
Charles Lutwidge
A Simple Guide for How to Write Off Bad Debt
Overview We all strive to maximize our satisfaction and surround ourselves with the best and most practical things. This applies to the purchase of household appliances, accessories, and clothing. Yet, not everyone can afford to upgrade their wardrobe or buy...
August 02, 2021
Charles Lutwidge
What Is an Accountant? Roles and Responsibilities
Who needs bookkeeping and why? Bookkeeping is one of the main parts of the activity of any enterprise, regardless of what it is doing to make money. Each entrepreneur has the opportunity to organize this bookkeeping at their discretion, taking...
August 02, 2021
Charles Lutwidge
Expense Report: Meaning and Template
What is an expense report? A typical definition of an expense is a form that employers require their employees to fill out to show the expenditure they had during a business trip or any other event for which they are...
July 31, 2021
Charles Lutwidge
The Meaning and Basics of Hedge Accounting
Did your company ever face problems such as unfavorable changes in the exchange rate during export and import operations? Maybe when purchasing raw materials or selling goods, the situation on the market developed in such a way that you were...
