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November 27, 2019

Charles Lutwidge
Royalties in Accounting

Royalties in Accounting

The concept of “royalty” came from the Latin language, where “regalis” meant “royal”. Today, the term has nothing to do with monarchs, but it directly relates to finances, money, making a profit. Royalty is a type of monetary reward for the..

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November 26, 2019

Charles Lutwidge
Accruals and Deferrals

Accruals and Deferrals

When it comes to accounting, timing is everything. To allocate revenues and expenses to the right accounting period, accountants use accruals and deferrals. This approach also helps with comparing financial statements from different periods. Accruals and deferrals follow the Matching Principle..

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September 30, 2019

Charles Lutwidge
What is the accounting equation?

What is the accounting equation?

The accounting equation is a fiscal formula used to calculate the relationship between various economic indicators within a business. This equation is usually presented in the form of a simple breakdown of values on a balance sheet. The accountancy formula highlights..

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September 30, 2019

Charles Lutwidge
What is Unearned Revenue in Accounting?

What is Unearned Revenue in Accounting?

Revenue is an increase in an enterprise’s economic benefits over a specified reporting period. Revenue may come in the form of a revenue receipt (this is money received through regular business operations), asset sales, or a decrease in liabilities. Revenue leads..

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September 09, 2019

Charles Lutwidge
Retained Earnings Statement

Retained Earnings Statement

At the end of the year, at a general meeting of shareholders of the company or thefounders of the business, a decision is made on the distribution of the company’s netprofit. Part of the financial income that has not been distributed..

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September 09, 2019

Charles Lutwidge
A Guide to Prepaid Expenses

A Guide to Prepaid Expenses

To estimate the prospects of your business and properly manage it, you need a fast,and at the same time, a reliable way to calculate expenses and profits. To do so, youneed to account for all your costs, including prepaid expenses properly...

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September 09, 2019

Charles Lutwidge
The Agent Background

The Agent Background

IntroductionThe business world keeps evolving every working day. Market trends and income-generating opportunities keep coming, which allows brave entrepreneurs to start-up businesses. As a ripple effect, the demand for the taxation workforce arises as well. So during these business-minded days, being..

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September 09, 2019

Charles Lutwidge
How much does an EA earn?

How much does an EA earn?

Introduction: Being an Enrolled Agent will give you countless opportunities to earn as much as you desire as your salary is not limited to a single job-paying post. You can make outside your main job by charging services for tax representation,..

Articles

September 09, 2019

Charles Lutwidge
What is the accounting equation?

What is the accounting equation?

In the formation of accounting data, a basic accounting equation is used for financial statement no matter if you are just a small business or a multimillion company. The Italian mathematician Luca Pacioli formulated a basic accounting equation formula in 1494..

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